From Gift Nifty, US nonfarm payrolls to gold rates: 10 key things that changed for Indian stock market overnight

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Friday, following mixed cues from global markets.

Asian markets traded lower, while the US stock market ended mixed overnight, with the Dow Jones recording a fourth straight week of gains, its longest such streak since October 2024.

On Thursday, the Indian stock market ended higher, supported by healthy buying across segments.

The Sensex jumped 579.48 points, or 0.75%, to close at 77,502.12, while the Nifty 50 settled 169.85 points, or 0.71%, higher at 24,175.70.

“With rotational participation expanding across sectors and broader markets continuing to outperform, we maintain a positive stance and recommend a ‘buy-on-dips’ approach, focusing on relatively stronger stocks while maintaining disciplined risk management,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded lower on Friday, following an overnight fall in US technology stocks. Japan’s Nikkei 225 declined 0.60%, while the Topix fell 0.16%. South Korea’s Kospi cracked 3.46%, and the Kosdaq Index dropped 1.12%. Hong Kong’s Hang Seng index futures indicated a flat opening.

Gift Nifty Today

Gift Nifty was trading around 24,447 level, a premium of nearly 182 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Wall Street

US stock market ended mixed on Thursday, with the Dow posting a record closing high, after a softer-than-expected US jobs report eased worries about interest rate hikes.

The Dow Jones Industrial Average rallied 594.83 points, or 1.14%, to 52,900.07, while the S&P 500 rose 0.01 point to 7,483.24. The Nasdaq Composite closed 207.36 points, or 0.80%, lower at 25,832.67. For the week, the Dow gained about 2%, the S&P 500 rallied 1.8% and the Nasdaq surged 2.1%.

Nvidia stock price fell 1.39%, AMD shares plunged 4.26%, Microsoft share price rose 1.62%, Apple stock price rallied 4.84%, Meta shares slumped 4.90%, SpaceX shares gained 2.83%, and Tesla stock price slipped 7.49%.

US Nonfarm Payrolls

US job growth slowed more than expected in June and payroll gains for the prior two months were revised lower, pointing to a cooling labor market. US nonfarm payrolls increased by 57,000 jobs last month after a downwardly revised 129,000 rise in May. Economists polled by Reuters had forecast payrolls advancing 110,000 after a previously reported 172,000 increase in May.

Tesla Q2 Sales

Tesla stock price plunged over 7% even after the Elon Musk-led electric vehicle (EV) maker posted record-setting Q2 delivery numbers that smashed past Wall Street estimates. The company delivered 480,126 vehicles in the April-June period, a record for the second quarter and up about 25% from a year earlier. Tesla produced 451,758 vehicles during the quarter.

US-Iran Peace Talks

Iranian Foreign Minister Abbas Araghchi slammed the US CENTCOM after the latter convened a regional security conference in Bahrain. He rejected the notion that intervention from the West brings stability to West Asia and added that Iranian armed forces have proved that outsiders can’t even protect themselves. Araghchi called for peace in the region and said that it can only be sustained without any outside interference.

Russia-Ukraine War

Russia launched a barrage of drones and missiles targeting Ukrainian capital Kyiv and killing 27 people overnight. Ukrainian President Volodymyr Zelenskyy said the country would “definitely” retaliate for the overnight strikes as he carried out inspections at an apartment block that was partially destroyed.

Japan Services PMI

Japan’s services sector returned to expansion in June after stalling the previous month. The S&P Global final Japan Services Purchasing Managers’ Index (PMI) rose to 52.2 in June from 50.0 in May, signalling a renewed rise in business activity.

Gold Rate Today

Gold prices rose and headed for its first weekly gain in five, as investors dialled back expectations of Federal Reserve interest rate hikes. Spot gold price gained 0.5% to $4,144.83 per ounce. US gold futures for August delivery rose 0.8% to $4,157.50. Bullion was on track for a weekly gain of 1.2%, its first since May 25. Spot silver price rose 0.5% to $61.28 per ounce.

Crude Oil Prices

Crude oil prices fell as flows through the Strait of Hormuz increased further. Brent crude oil price fell 0.31% to $71.58 a barrel, while the US West Texas Intermediate (WTI) crude declined 0.35% to $68.45.

(With inputs from Agencies)