Indian stock market: 8 key factors that changed the stock market – Gift Nifty, US tech stocks sell to yield | Stock Market News

Indian stock market: The benchmark indices, Sensex and Nifty 50, are expected to open slightly lower on Tuesday following a sell-off in global markets.

Asian markets traded lower, while the US stock market ended lower amid a sell-off in tech stocks and as traders cut back on bets that the US Federal Reserve will cut interest rates.

Traders sharply cut expectations for another rate cut by the US Fed following Friday’s strong US jobs report. They had an 86% chance of a 25 basis point cut and a 14% chance that the central bank would not cut rates, according to CME’s FedWatch tool.

On Monday, India’s stock market indices fell for the sixth consecutive session amid outflows from foreign currencies.

The Sensex shed 638.45 points, or 0.78%, to close at 81,050.00, while the Nifty 50 settled 218.85 points, or 0.87%, lower at 24,795.75.

“The coming out of ₹30,700 crore given by foreign institutions in just three days of October, along with the rise in crude oil prices, has shaken all sentiments. We expect the market to remain under pressure in the near term until the FII sell-off ends. This week’s focus will be on RBI policy results and the start of the Q2 FY25 earnings season,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Here are the important tips for the global Sensex market today:

Asian markets

Asian markets traded sharply lower, following overnight losses on Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.05%.

Japan’s Nikkei 225 fell 0.75%, while the Topix fell 0.88%. South Korea’s Kospi fell 0.61%, and the Kosdaq fell 0.14%. Chinese markets jumped 10% at the open after returning from a long holiday. The CSI 300 index rose 10.2%, while Hong Kong’s Hang Seng index fell 3%.

Gift Nifty Today

Gift Nifty was trading around 24,860 level, minus about 130 points from Nifty futures close earlier, indicating a bad start for Indian stock market indices.

Wall Street

The US stock market ended slightly lower on Monday, dragged down by technology sales.

The Dow Jones Industrial Average fell 398.51 points, or 0.94%, to 41,954.24, while the S&P 500 fell 55.13 points, or 0.96%, to 5,695.94. The Nasdaq Composite ended 213.94 points, or 1.18%, lower at 17,923.90.

Alphabet’s stock fell 2.5%, Apple fell 2.3%, while Amazon’s share price fell 3%. Shares of Generac Holdings rose 8.52%, Pfizer stock rose 2% and Air Products and Chemicals stock rose 9.5%.

Treasury Harvest

The 10-year U.S. Treasury yield rose 4% for the first time in more than two months as markets eased bets on another high Fed rate hike.

The 10-year yield rose 3.9 basis points (bps) to 4.019%, advancing for the fourth straight quarter after reaching 4.033% in late July, Reuters reported. The two-year US Treasury yield hit its highest level since August 19 at 4.0270% and was last at 3.9764%.

Samsung Q3 results

Samsung Electronics estimates that its third-quarter profit jumped 274%, but that was short of analysts’ estimates. The company reported a preliminary profit of 9.1 trillion ($6.8 billion) for the three months ended September 30, against 10.3 trillion that beat the LSEG SmartEstimate. This compares to 2.43 trillion won in the same period last year and 10.44 trillion won in the previous quarter. Earnings were 79 trillion won, compared to expectations of 81.57 trillion won.

Real Japanese wages

Inflation-adjusted wages in Japan fell in August after a two-month increase in the summer bonus season, while household income also fell, data showed. Real wages in Japan fell 0.6% in August from the same month last year. This came after a rebound of 0.3% in July.

Differences showed that household spending fell by 1.9% from the year to the beginning of August, compared to a market decline of 2.6% based on a Reuters survey, and in temporary adjustments, income rose by 2.0% from the previous month. the fastest pace of the year.

Oil Prices

Crude oil prices fell on profit-taking after a month-long high.

Brent crude futures fell 0.3% to $80.70 a barrel, while US West Texas Intermediate futures fell 0.3% to $76.94 a barrel. Both contracts rose 3% on Monday to reach their highest level since late August.

Gold Price Today

Gold prices were lower on Tuesday as market participants awaited the minutes of the final US Fed meeting

Gold futures were little changed at $2,643.68 an ounce, while US gold futures fell 0.1% to $2,662.90.

(With views from Reuters)

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