Indian stock market: 8 key things that changed for market overnight - Gift Nifty, US retail sales to spike in oil prices
Sensex gained 227.55 points, or 0.32%, to close at 72,050.38, while the Nifty 50 ended 70.70 points, or 0.32%, higher at 21,910.75. “With the end of Q3 result season, the focus is now shifting to fundamentals and economic macro data. Domestic equities are taking support from better-than-expected inflation which would keep the trend positive.
Nifty is now close to 22,000 as well as its all-time high, we expect it to surpass these levels and touch new highs," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Here are key domestic and global market cues for Sensex today: Asian markets traded higher on Friday, with Japan’s Nikkei jumping to a fresh 34-year high, tracking overnight gains on Wall Street. Japan’s Nikkei jumped 1.6% to 38,769.64, while Topix rallied 1.1% to 2620.53.
South Korea’s Kospi rose 0.84% and Hong Kong’s Hang Seng index futures indicated a stronger opening. Mainland China markets remained closed for the Chinese New Year holidays. Also Read: Buy or sell: Rajesh Palviya of Axis Securities recommends Federal Bank, NOCIL, M&M stock for today Gift Nifty was trading around 22,088 level, as compared with Nifty futures’ previous close of 22,015, indicating a mildly positive start for the Indian stock market indices.
US stock market indices ended higher on Thursday after retail sales data declined more than expected, raising hopes that the Fed will soon start cutting interest rates in coming months. The Dow Jones Industrial Average rallied 350.07 points, or 0.91%, to 38,774.73, while the S&P 500 rose 29.05 points, or 0.58%, to end at 5,029.67. The Nasdaq Composite ended 47.03 points, or 0.30%, higher at 15,906.17.
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