Indian stock market: 7 key things that changed for market over weekend - Gift Nifty to rise in US producer price index
Sensex surged 376.26 points, or 0.52%, to end at 72,426.64, while the Nifty 50 settled 129.95 points, or 0.59%, higher at 22,040.70. “Indian markets showed resilience despite volatility. Q3 earning season has ended on a buoyant note with Nifty delivering a strong beat with a 17% YoY PAT growth versus estimates of +11%.
We expect market sentiment to strengthen further as the prospect of a pre-election rally is quite strong. Nifty is hovering near all-time zones and is all set to make new highs next week," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 19 Here are key global market cues for Sensex today: Asian shares traded mixed on Monday as fading chances for early interest rate cuts globally dampened sentiment, though investors are hoping China markets return from holiday with a spring in their step.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2%, after bouncing 2% last week. Japan’s Nikkei 225 eased 0.1%, while the Topix was flat. South Korea’s Kospi gained 0.8%, while the Kosdaq rose 0.1%.
Hong Kong’s Hang Seng index futures indicated a slightly higher opening. Gift Nifty was trading around 22,164 level, a premium of more than 60 points from Nifty futures’ Friday close, indicating a gap-up start for the Indian stock market indices. Also Read: Week Ahead: Macro data, FII mood, global cues among key market triggers as Nifty 50 eyes 22,150+ this week The US stock market fell on Friday after a hotter-than-expected producer prices report eroded hopes for imminent interest rate cuts by the Federal Reserve.
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