Indian stock market: 8 key things that changed for market overnight - Gift Nifty, iPhone China sales to Bitcoin prices
Sensex fell 195.16 points, or 0.26%, to close at 73,677.13, while the Nifty 50 settled 49.30 points, or 0.22%, lower at 22,356.30. “Investors are awaiting Fed Chair Powell’s testimony to get some input on interest rates. Overall, markets are likely to consolidate in the near term with sectorial rotation amid key events lined up.
Capital Goods, Auto, PSU Bank, and Oil & Gas will continue to remain in focus," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. Also Read: Stock market today: Day trading guide for Nifty 50 to Bank Nifty, six stocks to buy or sell on Wednesday — 6th March Here are key global market cues for Sensex today: Asian markets traded mixed on Wednesday following overnight losses on Wall Street amid a slide in tech stocks. Japan’s Nikkei 225 fell 0.2%, while the Topix gained 0.3%.
South Korea’s broader Kospi declined 0.25% and the Kosdaq rose 0.49%. Hong Kong’s Hang Seng index futures indicated a higher opening. Gift Nifty was trading lower at around 22,405 level, a discount of more than 20 points from Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
The US stock market indices declined more than 1% on Tuesday dragged by selling in megacap growth stocks and chip sector companies ahead of this week’s economic data and remarks from Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average dropped 404.64 points, or 1.04%, to 38,585.19, while the S&P 500 fell 52.3 points, or 1.02%, to 5,078.65. The Nasdaq Composite ended 267.92 points, or 1.65%, lower at 15,939.59.
Among stocks, Apple shares fell 2.8%, while Tesla shares plunged 3.9%. Target shares jumped 12%, while Microstrategy shares tumbled 21%. Also Read: Buy
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