Indian stock market: 6 key things that changed for market overnight -Gift Nifty, Disney shares to Wall Street ends mixed
Also Read: Nifty 50, Sensex today: What to expect in Indian stock market trade on May 8 According to Vinod Nair, Head of Research at Geojit Financial Services, the domestic market kept consolidating in spite of encouraging signals from outside the world. A number of variables, such as premium valuations and the low turnout in the current election, are contributing to profit booking in the home market. Nonetheless, FMCG continued to be the largest sectoral gainer throughout today's trading session, supported by hopes for better volume growth from rural regions thanks to favourable monsoon forecasts.
Here are key global market cues for Sensex today: Stocks in Asia struggled to find direction after a slow US session, with investors divided on whether the market can maintain this month's advance given the prevailing economic conditions, according to a Bloomberg news report. Australia's and South Korea's stocks increased while those in Japan declined. Hong Kong futures indicated a flat open.
As per Bloomberg news report, in Asia, the main attention will be on President Xi Jinping's European tour and the subsequent development of commercial relations. As per individuals acquainted with the situation, the US has cancelled Huawei Technologies Co.'s licenses to purchase semiconductors from Qualcomm Inc. and Intel Corp., indicating another example of geopolitical strains between China and the West.
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