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Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open lower on Friday tracking mixed global market cues. Asian markets traded mixed, while the US stock market ended lower overnight, with the S&P and the Nasdaq posting five consecutive sessions in the red, their longest losing streak since mid-April. On Thursday, the Indian stock market witnessed a strong rally, with both the benchmark indices jumping nearly 2% each, boosted by buying across the board.
The Sensex jumped 1,436.30 points, or 1.83%, to close at 79,943.
71, while the Nifty 50 settled 445.75 points, or 1.88%, higher at 24,188.
65. “While markets failed to deliver a Christmas rally over the past few weeks, the New Year has provided strong optimism in the first two days with Sensex touching the psychological 80,000-mark on the back of broad-based short covering. Gains in banking, IT, auto and metals triggered a major rally despite concerns in the currency market which saw the rupee scaling fresh lows amid rising crude oil prices and subdued growth.
However, any further uptick in US bond yields could weigh on domestic equities and fuel foreign fund outflows,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. Here are key global market cues for Sensex today: Asian Markets Asian markets traded mixed on Friday, in contrast with overnight losses on Wall Street, Japan markets are closed for a holiday. South Korea’s Kospi index rallied 1.
41% and the Kosdaq gained 1.33%. Hong Kong’s Hang Seng index futures indicate a lower opening.
Gift Nifty Today Gift Nifty was trading around 24,190 level, a discount of nearly 92 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices. Wall Street Today US stock market ended lower on Thursday amid choppy trading, weighed down by tech stocks. The Dow Jones Industrial Average declined 151.
95 points, or 0.36%, to 42,392.27, while the S&P 500 fell 13.
08 points, or 0.22%, to 5,868.55.
The Nasdaq Composite closed 30.00 points, or 0.16%, lower at 19,280.
79. Tesla shares sank 6.1%, while Apple stock price dropped 2.
6%. Crypto stocks such as Coinbase, MicroStrategy and MARA Holdings gained between 2.6% and 3.
6%, tracking rising Bitcoin prices. US Jobless Claims The number of Americans filing new applications for jobless benefits unexpectedly fell last week. Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 211,000 for the week ended December 28.
Economists polled by Reuters had forecast 222,000 claims for the latest week. Tesla Sales Tesla share price plunged 6.1% after the electric vehicle (EV) maker posted its first annual sales drop in more than a dozen years as it handed over fewer-than-expected EVs in the fourth quarter.
Tesla handed over 495,570 vehicles in the three months to December 31, missing estimates of 503,269 units, according to 15 analysts polled by LSEG. It produced 459,445 vehicles in the period, down about 7% from a year ago, Reuters reported. Deliveries for 2024 totaled 1.
79 million, 1.1% lower than a year ago and below estimates of 1.806 million units, according to 19 analysts polled by LSEG.
Dollar US dollar hit a two-year high after solid labor market data. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.67% to 109.
27, after climbing to 109.54, its highest since November 10, 2022. Gold Prices Today Gold prices traded higher, building on a 1% gain from the previous session, boosted by safe-haven demand.
Spot gold rose 0.1% to $2,660.25 per ounce, hovering around its over two-week low hit on Thursday.
US gold futures rose 0.2% to $2,673.90.
Oil Prices Crude oil prices traded higher, heading for a second weekly gain, as US crude stockpiles continued to fall. Brent crude oil rallied 1.73% to $75.
93 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 0.10% to $73.20 after rising 2% on Thursday.
(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..
