Indian stock market: 6 key things that changed for market overnight - Gift Nifty, Nvidia share price to India CAD

  • Indian stock market: Gift Nifty was trading around 23,570 level, a premium of nearly 15 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.

Livemint, Written By Ankit Gohel
First Published25 Jun 2024, 07:02 AM IST
Indian stock market: Asian markets traded higher, while the US stock market ended largely in the red dragged by selling in technology stocks.
Indian stock market: Asian markets traded higher, while the US stock market ended largely in the red dragged by selling in technology stocks.

Indian stock market: The domestic equity indices, Sensex and Nifty 50, are expected to open flat on Tuesday amid mixed global market cues.

Asian markets traded higher, while the US stock market ended largely in the red dragged by selling in technology stocks.

On Monday, the Indian stock market indices ended with minor gains led by heavyweights.

The Sensex gained 131.18 points, or 0.17%, to close at 77,341.08, while the Nifty 50 settled 36.75 points, or 0.16%, higher at 23,537.85.

“Markets this week will take cues from global macro data points and the progress of the monsoon back home. We expect Nifty to consolidate at the current juncture with a bout of volatility amid monthly derivatives expiry,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

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Here are key domestic and global market cues for Sensex today:

Asian Markets

Asian markets traded mostly higher despite overnight selloff in US tech stocks.

Japan’s Nikkei 225 rose 0.19% while the Topix gained 0.7%. South Korea’s Kospi added 0.38% and the Kosdaq was up 0.35%. Hong Kong Hang Seng index futures indicated a higher opening.

Gift Nifty Today

Gift Nifty was trading around 23,570 level, a premium of nearly 15 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.

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Wall Street

US stock market ended mixed on Monday with the Dow Jones hitting a one-month high, while the Nasdaq falling over 1%.

The Dow Jones rallied 257.99 points, or 0.66%, to 39,408.32, while the S&P 500 declined 15.73 points, or 0.29%, to end at 5,448.89 points, and the Nasdaq Composite closed 190.19 points, or 1.09%, lower at 17,499.17.

Nvidia shares plunged 6.68%, while other chip stocks including US shares of Taiwan Semiconductor Manufacturing, Broadcom, Marvell Technology and Qualcomm dropped between 3.53% and 5.7%, Reuters reported.

India CAD

India's current account recorded a surplus of $5.7 billion, or 0.6% of the GDP during the March quarter, compared with a deficit of $8.7 billion, or 1% of GDP in the previous quarter due to higher services exports. In FY24, India’s CAD reduced to 0.7% of GDP, or $23.2 billion, as against 2% of GDP, or $67 billion in FY23.

Read here: India’s CAD reduced to 0.7% of GDP, records surplus of 0.6% in Q4: RBI

Also Read | India’s CAD reduces to 0.7% of GDP, records surplus of 0.6% in Q4: RBI

Oil Prices

Crude oil prices were little changed on Tuesday. Brent futures for August delivery rose 0.08% to $86.08 a barrel. The more actively traded September contract rose 0.09% to $85.23. US crude futures gained 0.11% to $81.72 a barrel.

Dollar

The US dollar index steadied against a basket of currencies at 105.49. Against the Japanese yen, the dollar was last 0.04% higher at 159.64, just a whisker away from the 160 level.

(With inputs from Reuters)

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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First Published:25 Jun 2024, 07:02 AM IST
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