Indian stock market: 7 key things that changed for market overnight - Gift Nifty, India inflation to GameStop rally
Sensex gained 111.66 points, or 0.15%, to close at 72,776.13, while the Nifty 50 settled 48.85 points, or 0.22%, higher at 22,104.05. “The positive takeaway was that Nifty ended above the psychological 22,100 mark, aided by sluggish WTI oil prices and investors reinforcing bets for Federal Reserve’s September interest rate cuts. While mixed global cues hardly enthused local investors, concerns over strong FII selling in the month so far along with caution in the poll season kept the upside limited with investors also trading with caution ahead of the inflation announcement," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
According to him, on the technical front, Nifty’s immediate hurdles are seen at 22,500 mark and 22,795 mark, while immediate downside risk is at its biggest support at 21,710 mark. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 14 Here are key domestic and global market cues for Sensex today: Asian markets traded mostly higher as investors assessed inflation data from India and Japan. Japan’s Nikkei 225 rose 0.7%, while the Topix gained 0.6%.
South Korea’s Kospi added 0.18%, and the Kosdaq gained 5%. Hong Kong’s Hang Seng index futures indicate a positive opening. Gift Nifty was trading around 22,245 level, a premium of nearly 20 points from the Nifty futures’ previous close, indicating a flat-to-positive start for the Indian stock market indices.
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