Indian stock market: 6 things that changed for market overnight - Gift Nifty, oil prices to US manufacturing PMI
Motilal Oswal Financial Services Ltd. Also Read: Day trading guide for today: Six stocks to buy or sell on Wednesday —January 3 Here are key global market cues for Sensex today: Asian markets traded lower on Wednesday tracking overnight weakness on Wall Street indices. Japan’s markets are closed until January 4.
South Korea’s Kospi declined 1.36%, while the Kosdaq fell 1%. Hong Kong’s Hang Seng index futures pointed to a weaker open. Australia’s S&P/ASX 200 fell 1%.
Gift Nifty was trading around 21,680 level as against Nifty futures’ previous close of 21,754, indicating a weak start for the Indian stock market today. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The US stock market indices ended mostly lower on Tuesday, the first trading session of 2024, dragged by selling in technology stocks amid a rise in Treasury yields. The S&P 500 declined 27 points, or 0.57%, to end at 4,742.83 points, while the Nasdaq Composite fell 245.41 points, or 1.63%, to 14,765.94.
The Dow Jones Industrial Average ended 25.5 points, or 0.07%, higher at 37,715.04. Among stocks, Apple shares dropped 3.6% after Barclays downgraded the tech giant to “underweight", citing weakening iPhone demand. Nvidia, Meta Platforms and Microsoft fell between 1.4% and 2.7%.
The S&P Global’s final reading of US manufacturing activity for December came in at 47.9, down from 49.4 in November and below the estimates of 48.2. Also Read: Buy or sell: Vaishali Parekh recommends buying these three stocks today - January 3 US Treasury yields rose to two-week highs amid lowered expectations for rate cuts in 2024. The yield on 10-year notes ticked above 4.000% to a
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