Indian stock market: 7 key things that changed for market overnight - Gift Nifty, BoE policy to US jobless claims
Motilal Oswal Financial Services Ltd. Here are key global market cues for Sensex today: Asian markets traded higher on Friday tracking overnight gains on Wall Street amid renewed rate cut hopes. Japan’s Nikkei 225 rallied 1.52%, while the Topix gained 1.22%.
South Korea’s Kospi surged 1% and the Kosdaq rose 0.97%. Hong Kong’s Hang Seng index futures indicated a stronger opening. Gift Nifty was trading around 22,155 level, a premium of nearly 80 points from the Nifty futures’ previous close, indicating a gap-up start for the Indian stock market indices.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 10 The US stock market ended higher on Thursday with the Dow Jones Industrial Average extending gains for the seventh straight daily, after weekly jobless claims data raised hopes for interest-rate cuts by the US Federal Reserve. The Dow Jones Industrial Average rallied 331.37 points, or 0.85%, to 39,387.76, while the S&P 500 gained 26.41 points, or 0.51%, to 5,214.08 points. The Nasdaq Composite ended 43.51 points, or 0.27%, higher at 16,346.27.
Tech megacap stocks, Apple, Amazon.com and Meta Platforms rose between 0.6% and 1% amid fall in Treasury yields. Equinix shares surged 11.5%, while Arm Holdings shares declined 2.3% and Nvidia share price fell 1.8%. Roblox slumped 22.1% and Robinhood Markets shares dropped 3.1%.
Spirit Airlines stock price jumped 12.9%. The Bank of England’s Monetary Policy Committee voted 7-2 to keep rates at a 16-year high of 5.25% after Deputy Governor Dave Ramsden joined Swati Dhingra in voting for a cut to 5%. Economists polled by Reuters had mostly expected another 8-1 split to keep rates on hold.
Read more on livemint.com
