Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open lower on Thursday amid ongoing conflict between India and Pakistan, and mixed global market cues.
Asian markets traded mixed, while the US stock market ended higher after the US Federal Reserve policy.
On Tuesday, the Indian stock market ended higher, shrugging off concerns over rising tensions between India and Pakistan.
The Sensex gained 105.71 points, or 0.13%, to close at 80,746.78, while the Nifty 50 settled 34.80 points, or 0.14%, higher at 24,414.40.
“Domestic uncertainties are expected to continue driving volatility. However, stable global cues and sustained FII buying are helping to delicately balance the market despite geopolitical risks,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed on Thursday, following overnight rally on Wall Street, after the US Fed policy. Japan’s Nikkei 225 rose 0.28%, while the Topix was flat. South Korea’s Kospi gained 0.36% and the Kosdaq rallied 0.61%. Hong Kong’s Hang Seng index futures indicated a higher opening.
Gift Nifty Today
Gift Nifty was trading around 24,420 level, a discount of nearly 41 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
Wall Street
US stock market ended higher on Wednesday after the Federal Reserve kept interest rates unchanged.
The Dow Jones Industrial Average rallied 284.97 points, or 0.70%, to 41,113.97, while the S&P 500 gained 24.37 points, or 0.43%, to 5,631.28. The Nasdaq Composite closed 48.50 points, or 0.27%, higher at 17,738.16.
Alphabet stock price declined 7.51% after Bloomberg report said iPhone-maker Apple was exploring the option of adding artificial-intelligence search options to its web browser. Apple share price fell 1.1%.
Nvidia stock price gained 3.10%, while Advanced Micro Devices shares rose 1.76%. Disney shares jumped 10.8%, while Uber share price fell 2.1% and CrowdStrike stumbled 5.3%.
US Fed Policy
The US Federal Reserve decided to keep the key benchmark interest rates unchanged at the range of 4.25% to 4.5%. Fed Chair Jerome Powell acknowledged uncertainty has soured sentiment among people and businesses, but the economy itself is still healthy, Reuters reported. In addition, he said rate cuts are possible if supported by economic data but the Fed cannot make preemptive policy changes until there is more clarity.
US-China Trade Talks
US President Donald Trump said he is unwilling to preemptively lower tariffs on China in order to unlock more substantive negotiations with Beijing on trade.
India-Pakistan Conflict
Pakistan Prime Minister Shehbaz Sharif said that his country will retaliate after Indian armed forces dismantled nine terror camps in Pakistan and PoK under ‘Operation Sindoor’. Sharif said his armed forces are capable of retaliation and Pakistan will take revenge.
Gold Prices
Gold prices rose after the US Federal Reserve warned of rising inflation and labor market risks fuelling economic uncertainty. Spot gold price gained 0.6% to $3,384.99 an ounce, while the US gold futures were steady at $3,392.00.
Crude Oil Prices
Crude oil prices steadied after falling more than $1 in the previous session. Brent crude futures were unchanged at $61.12 a barrel, while US West Texas Intermediate crude were up 0.1% to $58.12 a barrel.
(With inputs from Reuters)
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