Indian stock market: 7 key things that changed for market over weekend - Gift Nifty, US nonfarm payrolls to oil prices
Read here: Week Ahead: Inflation data, Q4 results, crude oil prices, global cues among key market triggers this week On Friday, the domestic equity indices ended flat after the Reserve Bank of India (RBI) announced its monetary policy in line with expectations. The central bank kept the key policy repo rate unchanged at 6.5% and maintained its policy stance as ‘withdrawal of accommodation’. The Sensex rose 20.59 points, or 0.03%, to close at 74,248.22, while the Nifty 50 settled flat at 22,513.70.
“The domestic markets registered gains for the week gone by as they remained well supported by strong macroeconomic data in the form of PMI numbers. At the current juncture, the earnings season too is expected to register satisfactory growth. The expectations on growth were seconded by RBI in its policy by way of strong projections for FY25.
The domestic news flow is fairly supportive of the market sentiments, the volatility may be largely induced by global developments, specifically expectations around the timing of the US Fed rate action," said Joseph Thomas, Head of Research, Emkay Wealth Management. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 8 Here are key global market cues for Sensex today: Asian markets traded mixed on Monday ahead of key economic data from the region. Japan’s Nikkei 225 rallied 1.01%, while the Topix gained 0.77%.
South Korea’s Kospi fell 0.17% and the Kosdaq declined 0.76%. Hong Kong’s Hang Seng index futures indicated a stronger opening. Gift Nifty was trading around the 22,650 level, a premium of over 40 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.
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