Indian stock market: 6 key things that changed for market overnight - Gift Nifty, US stocks rebound to Apple Event 2024

  • Indian stock market: Gift Nifty was trading around 25,040 level, a premium of nearly 46 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Livemint, Written By Ankit Gohel
Published10 Sep 2024, 07:01 AM IST
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Indian stock market: Asian markets traded higher, while the US stock market rebounded overnight with the benchmark indices rallying over 1% each.
Indian stock market: Asian markets traded higher, while the US stock market rebounded overnight with the benchmark indices rallying over 1% each.(Photo: Bloomberg)

Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Tuesday following gains in global markets.

Asian markets traded higher, while the US stock market rebounded overnight with the benchmark indices rallying over 1% each.

On Monday, the Indian stock market indices rebounded to end higher, lifted by buying in heavyweights.

The Sensex rose 375.61 points, or 0.46%, to close at 81,559.54, while the Nifty 50 settled 84.25 points, or 0.34%, higher at 24,936.40.

“Despite global volatility, domestic equities have shown resilience at every decline and have recovered by ~200 points from lower levels. This is supported by healthy macros and retail participation. Overall we expect the market to continue its consolidation mode with a gradual up move. US & Europe policy meetings in the near term would keep investors on edge,” said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Also Read | Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 10

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Tuesday following an overnight rebound on Wall Street and ahead of trade data in the region.

Japan’s Nikkei 225 gained 0.52% and the Topix rose 0.65%. South Korea’s Kospi index added 0.17% and the Kosdaq gained 0.18%. Hong Kong Hang Seng index futures indicated a higher opening.

Gift Nifty Today

Gift Nifty was trading around 25,040 level, a premium of nearly 46 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Also Read | Hindustan Copper, Bandhan Bank among seven stocks in F&O ban list today

Wall Street

US stock market ended higher on Monday in a short covering rally after a steep fall last week.

The Dow Jones Industrial Average rallied 484.18 points, or 1.20%, to 40,829.59, while the S&P 500 rose 62.63 points, or 1.16%, to 5,471.05. The Nasdaq Composite ended 193.77 points, or 1.16%, higher at 16,884.60.

Nvidia stock price gained 3.5%, while Apple share price closed up just 0.04%. Boeing shares rose 3.4%, Palantir stock price rallied 14% and Dell Technologies shares surged 3.8%.

Apple Event 2024

Apple unveiled an array of new products and features at its Glow Time event on Monday. The tech giant showcased its latest advancements, including the artificial intelligence-boosted iPhone 16 series, Apple Watch Series 10, updated Apple Watch Ultra 2, and a revamped AirPods lineup, alongside some exciting updates on iOS 18.

Also Read | Apple Event 2024 Live: iPhone 16 Series, Watch Series 10 and more launched

Oil Prices

Crude oil prices were steady in early trade on Tuesday. Brent crude futures rose 0.19% to $71.98 a barrel, while US West Texas Intermediate crude futures gained 0.15% to $68.81 a barrel. Both benchmarks rallied around 1% at Monday’s settlement.

Gold Rate Today

Gold prices were stable ahead of US inflation data for hints about a likely reduction in interest rates by the US Federal Reserve this month. Spot gold was flat at $2,504.98 per ounce, while US gold futures rose 0.1% to $2,533.70.

(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:10 Sep 2024, 07:01 AM IST
Business NewsMarketsStock MarketsIndian stock market: 6 key things that changed for market overnight - Gift Nifty, US stocks rebound to Apple Event 2024

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