Indian stock market: 6 things that changed for market overnight - Gift Nifty, Wall Street sell off to a steady dollar
Catch Live Market Updates here The domestic market ended with sharp losses on Wednesday as investors opted for profit booking after the indices hit record highs. The Sensex slumped 930.88 points, or 1.30%, to end at 70,506.31, while the Nifty 50 ended 302.95 points, or 1.41%, lower at 21,150.15. “Domestic equities are witnessing sell off after a sharp run up of more than 12% in the last seven weeks.
We expect the market to consolidate in the near term as investors resort to profit booking and assess the potential risk of rising covid cases especially in Kerala and Karnataka, making them cautious in the market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Overall, Khemka remains positive on the market and expects recovery after a pause supported by global macros along with interest rates peaking out and healthy domestic macros. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 21 Here are domestic and global market cues for Sensex today: Asian markets traded lower on Thursday following overnight losses on Wall Street ahead of the release of GDP and inflation data in the US.
Japan’s Nikkei 225 dipped 1.31%, while the Topix declined 1.18%. South Korea’s Kospi fell 0.36% and the Kosdaq dropped 0.2%. Hong Kong’s Hang Seng index futures pointed to a weaker open.
Australia’s S&P/ASX 200 declined 0.57%. Gift Nifty was trading around 21,141 level as compared to Nifty futures’ previous close of 21,169, indicating a weaker start for the Indian benchmark indices. (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 ended sharply lower on
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