Submitted by admin on October 9th, 2024
Gift Nifty was trading around 25,410 level, a discount of nearly 65 points from the Nifty futures’ previous close. This indicates a negative start for the Indian stock market indices.
Indian stock market: The Indian equity market indices, Sensex and Nifty 50, may have a lower opening on Friday and could remain volatile as mixed cues come from global markets. The two equity indices had witnessed a sharp fall of over 2 percent in the previous session.
Asian markets traded mixed, with US stock market ending lower overnight as investors remained cautious in the face of the escalating conflict in the Middle East with the Israel- Iran war.
Indian stock market had a big crash on Thursday, with the benchmark indices marking its worst intraday drop in two months as investor sentiment soured amid Iran – Israel war.
In the day, the Sensex went down 1,769.19 points, or 2.10%, to close at 82,497.10. The Nifty 50 settled 546.80 points, or 2.12%, lower at 25,250.10.
Global factors like the spurt in Brent crude prices, escalation in the Middle-East War, and a possible outflow of FIIs from India to China dented sentiments. We expect market volatility in the near term with stock-specific action as the companies will come with pre-quarterly updates,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed on Friday tracking overnight losses on Wall Street amid concerns over Middle East tensions. Indices that performed well are Japan’s Nikkei 225 and Topix up 0.34% and 0.41% respectively. South Korea’s Kospi is up 0.19% while the Kosdaq rallied 0.74%. Hong Kong’s Hang Seng index futures indicated a lower opening. Markets in mainland China are shut and will reopen on October 8.
Gift Nifty Today
Gift Nifty traded around 25,410 levels, nearly 65 points below the previous close of Nifty futures, which sets a negative start for the Indian stock market indices.
Wall Street
US stock market ended lower on Thursday amid cautiousness on the growing conflict in the Middle East.
The Dow Jones Industrial Average fell 184.93 points, or 0.44%, to 42,011.59. The S&P 500 declined 9.58 points, or 0.17%, to 5,699.96. The Nasdaq Composite ended at 17,918.48, down 6.65 points, or 0.04%.
The Cboe Volatility index, often referred to as Wall Street’s fear gauge, surged to 20.49 on Friday, which is its highest closing level since September 6.
US Jobless Claims
The number of Americans applying for new jobless benefits increased slightly last week. Initial applications for state unemployment benefits rose 6,000 last week to a seasonally adjusted 225,000 in the period ended September 28. The Reuters economists’ forecast had estimated 220,000 claims for the latest week.
US Services PMI
US services sector activity jumped to a 1-1/2 year high in September as new orders increased strongly. The purchasing managers’ index for the sector accelerated to 54.9 last month, the highest since February 2023, from 51.5 in August, Institute for Supply Management said. Reuters poll economists had forecast services PMI to rise to 51.7.
Oil Prices
Oil Prices Steadily Higher as War in the Middle East, Possibility of Dislocation in Crude Flows
Brent crude futures were up 0.12% at $77.71 a barrel, while US West Texas Intermediate crude futures was up 0.11% to $73.79 a barrel. Both the benchmarks seemed set for weekly gains of around 8%.
Dollar
The dollar rose to its highest in six weeks on Thursday. The dollar index rose 0.23% at 101.91 and reached its highest level since August 19 at 102.09. It reached to a 14-month low at 100.15 September 27.
FII Selling
Preliminary data on the exchanges indicate Foreign Institutional Investors (FIIs) net sold Indian shares at ₹15,243.27 crore on Thursday, while Domestic Institutional Investors (DIIs) net purchased shares to the tune of ₹12,913.96 crore.
Int Rates : 10.5% - 22%
Loan Amount: ₹ 1,00,000.00
Maximum Tenure - 7 Years
Lowest EMI : ₹ 1,686
Interest Rate 13.99% - 24.99%
Loan Amount: ₹ 1,00,000.00
Maximum Tenure – 5 Years
Lowest EMI : ₹ 2,326
Interest Rate 9% - 13%
Loan Amount: ₹ 1,00,000.00
Maximum Tenure – 20 Years
Lowest EMI : ₹ 1,014
Interest Rate 8.40% - 12%
Loan Amount : ₹ 1,00,000.00
Maximum Tenure – 35 Years
Lowest EMI – ₹ 739
Income Tax Returns (ITR) filing is one of the important roles of all taxpayers. It is even more important to the Demat account holders, where stock market, transactions, dividends, and capital gains have to be reported properly. Knowing the most....
Read More
The Indians have always loved gold as an investment either as a store of value, a protection against inflation or in a diversified portfolio. Gold Exchange-Traded Funds (ETF) and Physical Gold are the two primary methods that investors can use t....
Read More
Availing a personal loan is a great relief when in need of finance but there is also a responsibility attached. When you obtain a loan, it is expected that you will pay the money with fixed payments. When you are unable to do so the loan will be....
Read More