Stocks News

Indian stock market: 10 key issues that modified for market in a single day


Indian stock market: 10 key issues that modified for market in a single day – Gift Nifty, US inflation to India’s Q3 GDP records


4 min read
01 Mar 2024, 07:11 AM IST

Join us Whatsapp

Livemint

,
Written By Ankit Gohel

Indian stock market: Gift Nifty changed into shopping and selling around 22,197 diploma, a top class of additional than 30 capabilities from Nifty Futures Thursday terminate, indicating a mildly clear launch for the Indian stock market indices.

Indian stock market: Asian markets traded largely bigger, whereas the US stock market indices rallied in a single day after the inflation records and comments from the US Federal Reserve officials. (List: AP)Top class
Indian stock market: Asian markets traded largely bigger, whereas the US stock market indices rallied in a single day after the inflation records and comments from the US Federal Reserve officials. (List: AP)

Indian stock market: The home benchmark equity indices are expected to begin bigger on Friday monitoring clear global market cues.

Asian markets traded largely bigger, whereas the US stock market indices rallied in a single day after the inflation records and comments from the US Federal Reserve officials helped form expectations for the timing of the central bank’s hobby charge cuts.

Stock market investors have a tendency to react to  a slew of data released in a single day, including US inflation, jobless claims, India’s Q3 GDP allege, fiscal deficit and others.

Within the intervening time, the Indian stock market indices ended Thursday’s unstable session on a bigger mark amid blended global cues.

The Sensex gained 195.42 capabilities, or 0.27%, to terminate at 72,500.30, whereas the Nifty 50 settled 31.65 capabilities, or 0.14%, bigger at 21,982.80.

“Contemporary global economic records releases pushed investors assist after a rally that changed into considered lately. Additional, the US Fed’s most popular inflation gauge, personal consumption expenditures (PCE), holds key significance from an hobby charge point of view. Markets will furthermore react to India’s Q3 GDP records. The auto sector is anticipated to be in focal point as month-to-month gross sales numbers will be published over the weekend,” stated Siddhartha Khemka, Head – Retail Examine, Motilal Oswal Monetary Providers Ltd.

Right here are key home and global market cues for Sensex this present day:

Asian Markets

Asian markets traded bigger on Friday monitoring in a single day rally on Wall Avenue and as investors awaited China manufacturing records.

Japan’s Nikkei 225 gained 0.72%, whereas the Topix index rose 0.50%. Hong Kong’s Hang Seng index futures indicated a decrease opening. South Korea markets had been shut for the Circulation Day vacation.

Moreover Read: Aquire or promote: Vaishali Parekh recommends three shares to purchase this present day — March 1

Gift Nifty On the unique time

Gift Nifty changed into shopping and selling around 22,197 diploma, a top class of additional than 30 capabilities from Nifty Futures Thursday terminate, indicating a mildly clear launch for the Indian stock market indices.

Wall Avenue

The US stock market indices rallied, with the S&P 500 and Nasdaq closing at file highs on Thursday led by tech shares, after the liberate of inflation records.

The Dow Jones Industrial Moderate gained 47.37 capabilities, or 0.12%, to 38,996.39, whereas the S&P 500 rose 26.51 capabilities, or 0.52%, to 5,096.27. The Nasdaq Composite ended 144.18 capabilities, or 0.90%, bigger at 16,091.92.

Nvidia shares gained 2.08%, Improved Micro Devices surged 9.06%, whereas Dell Technologies fragment label rose 1.51%. Boeing shares fell 1.59%, whereas Snowflake slumped 18.14%.

US Inflation

US costs picked up in January, however the annual expand in inflation changed into the smallest in nearly three years. The non-public consumption expenditures (PCE) label index rose 0.3% best month, government records confirmed. Within the one year via January, PCE inflation rose 2.4%. That changed into the smallest year-on-year expand since February 2021 and followed a 2.6% method in December, Reuters reported.

Economists polled by Reuters had forecast the PCE label index ice climbing 0.3% on the month and lengthening 2.4% year-on-year.

US Unemployment Claims

More Individuals applied for jobless advantages best week, but layoffs dwell historically low. Gains for unemployment advantages rose by 13,000 to 215,000 for the week ending February 24, the Labor Department stated. In total, 1.9 million Individuals had been collecting jobless advantages for the length of the week that ended February 17, up forty five,000 from the old week and potentially the most since November.

India’s Q3 GDP

India’s depraved home product (GDP) grew 8.4% for the length of the third quarter of FY24, remaining the quickest-rising predominant economic system on this planet. GDP allege for Q1FY24 and Q2FY24 has furthermore been revised upwards to 8.2% and eight.1%, respectively. The FY24 GDP allege estimate has furthermore been revised upwards to 7.6% from 7%.

Read right here: India’s Q3 GDP allege at 8.4%, beats D-Avenue estimates; economic system grows at quickest paddle in 6 quarters: 5 key highlights

India’s Fiscal Deficit

India’s fiscal deficit for the length of the predominant ten months of FY24 stood at 11.03 lakh crore, or 63.6% of the revised annual estimate, in response to records released. The fiscal deficit narrowed from 11.91 lakh crore, or 67.8% reported in the identical length best year.

Read right here: India Apr-Jan fiscal deficit at 11.03 trillion, 64% of annual way

US Fed Officers

Atlanta Fed President and balloting member Raphael Bostic wired taking an data-dependent formulation to monetary coverage, saying it changed into going to be a bumpy route to the Fed’s 2% inflation way, and repeated his seek data from that he sees the central bank reducing rates “in the summertime months.”

Chicago Federal Reserve Monetary institution President Austan Goolsbee stated improvements best year in the provision of goods and the labor market paved the formulation for inflation declines this year, indicating he remains supportive of charge cuts later this year, Reuters reported.

Japan’s Factory Exercise 

Japan’s manufacturing unit inform shrank on the quickest paddle in over three-and-a-half of years in February.

One of the best au Jibun Monetary institution Japan manufacturing procuring managers’ index (PMI) shrank to 47.2 in February from Forty eight.0 in January, its ninth straight month of contraction.

Oil Prices

Crude oil costs fell on Thursday as the US inflation records and rising OPEC production weighed on costs.

Brent futures for April supply settled at $83.62 a barrel, down 6 cents, whereas US crude settled at $78.26 a barrel, losing 28 cents.

(With inputs from Reuters)

Disclaimer: The views and suggestions made above are those of particular individual analysts or broking firms, and no longer of Mint. We list investors to envision with licensed experts sooner than taking any funding selections.

Unlock a world of Advantages! From insightful newsletters to proper-time stock monitoring, breaking data and a personalized newsfeed – it be all right here, correct a click away! Login Now!

Obtain all the Industry Recordsdata, Market Recordsdata, Breaking Recordsdata Events and Most unique Recordsdata Updates on Dwell Mint. Examine all potentially the latest action on Fee range 2024 right here.
Download The Mint Recordsdata App to accept Day-to-day Market Updates.

More
Much less

Printed: 01 Mar 2024, 07:11 AM IST

Next Story
footLogo

Read More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button