Indian stock market: The equity market benchmark indices, Sensex and Nifty 50, are expected to open on a weak note on Friday, following mixed cues from global markets, as the concerns over higher US tariffs on Indian goods continue to weigh on sentiment.
Asian markets traded mixed, while the US stock market also ended mixed overnight, with the Nasdaq closing at record high.
On Thursday, the Indian stock market ended with minor gains led by fag-end buying even as concerns over Trump’s tariffs and their impact on the economy continue to dent sentiment.
The Sensex rose 79.27 points, or 0.10%, to close at 80,623.26, while the Nifty 50 settled 21.95 points, or 0.09%, higher at 24,596.15.
“Amid the prevailing uncertainty, we continue to advise a cautious approach and prefer maintaining hedged positions,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed on Friday, with Japan’s Topix hitting all-time high. Japan’s Nikkei 225 rallied 1.93%, while the Topix index gained 1.42%. South Korea’s Kospi index fell 0.25% and the Kosdaq rose 0.65%. Hong Kong’s Hang Seng index futures indicated a weaker opening.
Gift Nifty Today
Gift Nifty was trading around 24,651 level, a discount of nearly 22 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
Wall Street
The US stock market ended mixed on Thursday, with the Nasdaq posting a record closing high.
The Dow Jones Industrial Average declined 224.48 points, or 0.51%, to 43,968.64, while the S&P 500 fell 5.06 points, or 0.08%, to 6,340.00. The Nasdaq Composite closed 73.27 points, or 0.35%, higher at 21,242.70.
Apple shares rallied 3.2%, Nvidia share price gained 0.75%, while Advanced Micro Devices stock price jumped 5.69%. Tesla shares rose 0.74%, while Intel stock declined 3.1%. Eli Lilly shares plunged 14.1%, while Fortinet stock slumped 22%.
US Jobless Claims
The number of Americans filing new applications for unemployment benefits ticked up to the highest level in a month last week. Initial claims for state unemployment benefits for the week ended August 2 rose 7,000 to a seasonally adjusted 226,000, the highest level since the week ended July 5. Economists polled by Reuters had forecast 221,000 claims for the latest week.
MSCI Rejig
Swiggy, Vishal Mega Mart, Waaree Energies India and Hitachi Energy India shares have been included in the MSCI India index, which is part of the MSCI Global Standard Index. Sona BLW Precision Forgings and Thermax have been dropped from the index.
Gold Prices
Gold prices jumped to a fresh high following a report that the United States has imposed tariffs on imports of one-kilo gold bars. Spot gold price fell 0.2% to $3,389.37 per ounce, after hitting its highest since July 23 earlier in the session. Bullion is up 0.8% so far this week, Reuters reported. US gold futures rose 1.6% to $3,509.10, after hitting an all-time high of $3,534.10.
Crude Oil Prices
Crude oil prices traded flat, but were headed for their steepest weekly losses since late-June. Brent crude futures rose 0.05% to $66.46 a barrel, on track to decline more than 4% week-over-week. US West Texas Intermediate crude futures were flat at $63.88 a barrel, set to fall more than 5% on a weekly basis.
(With inputs from Reuters)
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