Indian Stock Market: 7 key things that changed for the market over the weekend – From Gift Nifty, Asian markets to US Treasury yields

Indian Stock Market: Domestic equity benchmark indices, Sensex and Nifty 50 are expected to have a slow opening on Monday in view of the subdued trend in global markets.

Asian markets traded lower today, while US stock markets closed lower last week due to a decline in technology stocks.

This week investors will keep an eye on major stocks stock market triggerWhich includes the first set of December quarter updates for FY25, auto sales data, domestic and global macroeconomic data, foreign fund inflows and other key global market cues.

The Indian stock market closed with gains on Friday led by banking and auto giants.

Sensex It closed 226.59 points or 0.29% higher at 78,699.07, while the Nifty 50 gained 63.20 points or 0.27% at 23,813.40.

“With no significant triggers in the near term, the market is likely to remain range-bound. Siddharth Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said the pre-quarterly business update to be released in the first week of January 2025 will provide information about the upcoming results season and the market will keep a keen eye on it.

Here are the key global market cues for Sensex today:

Asian market

Asian market Technology stocks traded lower on Monday, tracking Wall Street’s decline on Friday amid a slide in technology stocks. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.2%, but is still up 16% for the year.

Japan’s Nikkei 225 fell 0.21%, while the Topix traded around flatline. South Korea’s Kospi fell 0.3%, while the Kosdaq lost 0.41%.

Give a nifty gift today

GIFT Nifty was trading around 23,986 levels, a discount of about 6 points from the previous close of Nifty futures, indicating a slow start for Indian stock market indices.

wall Street

American stock market It closed lower on Friday amid profit-booking across the board.

The Dow Jones fell 333.59 points, or 0.77%, to 42,992.21, while the S&P 500 fell 66.75 points, or 1.11%, to 5,970.84. The Nasdaq Composite fell 298.33 points, or 1.49%, to 19,722.03.

For the week, the S&P 500 rose 0.7%, the Dow rose 0.36% and the Nasdaq rose 0.75%.

Tesla shares fell 5%, Nvidia’s share price dropped 2.1%, while Alphabet, Amazon.com and Microsoft all slipped more than 1.5%. Amedisys shares rose 4.7% and Lamb Weston’s share price rose 2.6%.

dollar

The Japanese yen is trading at a near five-month low against the dollar as US yields rise. The yen was changing hands at 157.71. US dollar index Reuters reported that the measure was steady at 107.98, trailing key rivals. The euro stood at $1.0429. For the month, the dollar index is up 2.3%, bringing the year-to-date gain to 6.6%.

US treasury yields

US 10-year Treasury yields are trading near an eight-month high at 4.631% and about 75 basis points above where they started the year, even though the US Federal Reserve cut cash rates by 100 basis points. Marks have been deducted.

gold prices

Gold prices rose as the bullion’s safe-haven appeal diminished due to conflict in the Middle East. Spot gold rose 0.1% to $2,622.93 an ounce, while US gold futures rose 0.2% to $2,637.30.

crude oil prices

Crude oil prices fell in thin trading during the holiday season as traders awaited more economic data from China and the US later this week.

Brent crude futures fell 6 cents to $74.11 a barrel, while the more active March contract was down 6 cents at $73.73 a barrel. U.S. West Texas Intermediate crude fell 8 cents to $70.52 a barrel.

(With inputs from Reuters)

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