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Business News/ Markets / Stock Markets/  Indian stock market: 6 key things that changed for market overnight - Gift Nifty, US Treasury yields to oil prices
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Indian stock market: 6 key things that changed for market overnight - Gift Nifty, US Treasury yields to oil prices

Indian stock market: Gift Nifty was trading around the 22,149 level, a discount of nearly 50 points from the Nifty futures’ Tuesday’s close, indicating a negative start for the Indian stock market indices.

Indian stock market: Asian markets traded mixed, while the US stock market ended lower overnight dragged by selling in technology stocks. (Photo: Getty Images)Premium
Indian stock market: Asian markets traded mixed, while the US stock market ended lower overnight dragged by selling in technology stocks. (Photo: Getty Images)

Indian stock market: The domestic equity market is expected to open on a cautious note on Thursday amid weak global market cues.

Asian markets traded mixed, while the US stock market ended lower overnight dragged by selling in technology stocks.

On Tuesday, the Indian stock market indices extended losses for the third straight session to end over half a percent lower amid weak global cues.

The Sensex declined 456.10 points, or 0.62%, to close at 72,943.68, while the Nifty 50 dropped 124.60 points, or 0.56%, to settle at 22,147.90.

The Indian stock market was closed on Wednesday on account of Ram Navami.

“Investors are fearing that the ongoing conflict could fuel buoyancy in crude oil prices and in turn weigh on inflation. It seems bear machete is likely to rule the roost in Thursday’s session as well, with downside risk to benchmark Nifty still seen till the psychological 22,000 mark," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 18

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded mixed following overnight losses on Wall Street.

Japan’s Nikkei 225 declined 0.82%, while the Topix fell 0.38%. South Korea’s Kospi rallied 1.04% and the Kosdaq jumped 1.16%. Hong Kong’s Hang Seng index futures indicated a weaker opening.

Gift Nifty Today

Gift Nifty was trading around the 22,149 level, a discount of nearly 50 points from the Nifty futures’ Tuesday’s close, indicating a negative start for the Indian stock market indices.

Wall Street

The US stock market ended lower on Wednesday as investors assessed the Federal Reserve’s interest rate stance and a batch of soft corporate earnings.

The Dow Jones Industrial Average declined 45.66 points, or 0.12%, to 37,753.31, while the S&P 500 dropped 29.20 points, or 0.58%, to 5,022.21. The Nasdaq Composite ended 181.88 points, or 1.15%, lower at 15,683.37.

Among stocks, Nvidia share price fell nearly 4%, Travelers shares plunged 7.41%, Prologis share price declined 7.19% and Abbott Laboratories shares fell 3.03%. United Airlines share price spiked 17.45%, JB Hunt Transport Services shares slumped 8.12% and US Bancorp shares dipped 3.61%.

Also Read: Q4 Results Today: 19 companies to post Q4 earnings on April 18

US Treasury Yields

US bonds rebounded after a selloff and the Treasury yields dropped. The 10-year Treasury yields fell 8 basis points (bps) to 4.58% and the two-year yields dropped further below the 5% mark.

Oil Prices

Crude oil prices rose on Thursday, paring the previous session’s 3% losses, after the US said it would reinstate oil sanctions on Venezuela, Reuters reported.

Brent futures gained 0.11% to $87.39 a barrel, while US crude futures traded 0.01% higher at $82.70 a barrel. 

Also Read: Biden calls for steep hike to tariff on Chinese steel

Tariff hike on Chinese steel

US President Joe Biden called for raising tariffs on imports of steel and aluminum from China. The president wants to increase a key tariff rate on Chinese steel and aluminum products to 25% from 7.5%.

(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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Published: 18 Apr 2024, 07:15 AM IST
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