Indian stock market: 8 key things that changed for market overnight - Gift Nifty, fall in US stocks to weak dollar
Sensex gained 349.24 points, or 0.48%, to close at 73,057.40, while the Nifty 50 ended 74.70 points, or 0.34%, higher at 22,196.95. “Amidst market volatility, the domestic market is once again poised to approach record highs. The latest upward trajectory is bolstered by gains in the banking sector, with private banks witnessing a rebound from a recent sharp correction.
However, the decline in mid & small caps suggests that investors are continuing to exercise caution due to higher valuations," said Vinod Nair, Head of Research, Geojit Financial Services. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — February 21 The forthcoming release of the US Federal Reserve meeting minutes this week holds significance, particularly in light of recent sticky inflation data, which raises uncertainty regarding the timing of the Fed’s initiation of its easing cycle, Nair added. Here are key domestic and global market cues for Sensex today: Asian markets traded lower on Wednesday tracking overnight losses on Wall Street.
Japan’s Nikkei 225 declined 0.39%, while South Korea’s Kospi fell 0.2%. Hong Kong’s Hang Seng index futures indicated a stronger start. Gift Nifty was trading around 22,268 level, as compared with Nifty futures’ previous close of 22,232, indicating a positive start for the Indian stock market indices.
The US stock market ended lower on Tuesday as expectations of early interest rate cuts by the US Federal Reserve fade. The Dow Jones Industrial Average declined 64.19 points, or 0.17%, to 38,56.80, while the S&P 500 dropped 30.06 points, or 0.60%, to end at 4,975.51. The Nasdaq Composite ended 144.87 points, or 0.92%, lower at 15,630.78.
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