Indian stock market: 8 key things that changed for market overnight - Gift Nifty, US producer prices to oil price rally

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Sensex gained 335.39 points, or 0.46%, to close at 73,097.28, while the Nifty 50 settled 148.95 points, or 0.7%, higher at 22,146.65. “We expect broader market volatility to continue in the near term, thus, retail investors should take this correction as an opportunity to accumulate quality names in 3-4 tranches. We suggest to make a higher allocation towards largecaps as valuations are comfortable along with steady growth prospects," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Here are key global market cues for Sensex today: Asian markets traded lower on Friday tracking overnight losses on Wall Street after a hot US inflation report. Japan’s Nikkei 225 declined 0.4%, while the Topix gained 0.3%. South Korea’s Kospi fell around 1% and Kosdaq dropped 0.9%.

Hong Kong’s Hang Seng index futures indicated a lower opening. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — March 15 Gift Nifty was trading around 22,130 level, a discount of over 100 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices. US stock market indices ended lower on Thursday dragged by selling in chipmaker stocks for a second day, and after a jump in producer prices.

The Dow Jones Industrial Average declined 137.66 points, or 0.35%, to 38,905.66, while the S&P 500 fell 14.83 points, or 0.29%, to 5,150.48. The Nasdaq Composite ended 49.24 points, or 0.3%, lower at 16,128.53. Among stocks, Nvidia shares dropped 3.2%, while Robinhood Markets share price gained 5.2%.