Indian stock market: 10 key things that changed in the market overnight – Gift Nifty, US markets sell-off to gold prices

India’s main benchmark indices Sensex and Nifty 50 are expected to open lower on Friday amid declines in global markets.

Asian markets fell while the US stock market fell overnight on a sell-off in technology stocks.

The Indian stock market ended with gains on Thursday, with both benchmark indices touching their 52-week highs, propelling the session.

The Sensex rose 446.21 points or 0.52% to close at 85,632.68, while Nifty 50 settled 139.50 points or 0.54% higher at 26,192.15.

“We expect the market to continue to rally by monitoring domestic cues, global macro data, FII flows and potential announcement of India-US trade deal,” said Siddhartha Khemka – Director, Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Here are today’s top market signals for Sensex:

Asian markets

Asian markets fell on Friday after overnight losses on Wall Street. Japan’s Nikkei 225 fell 2.25%, while the Topix index fell 0.72%. South Korea’s Kospi index fell 3.4% and Kosdaq fell 3.01%. Hong Kong’s Hang Seng Index futures pointed to a lower opening.

Nice gift today

Gift Nifty was trading at 26,154, a discount of almost 66 points from the previous close of Nifty futures, indicating a negative start for Indian stock indices.

Wall Street

The U.S. stock market ended lower on Thursday after a sharp turnaround from early gains as technology gains weakened after Nvidia’s earnings surge.

The Dow Jones Industrial Average fell 386.51 points, or 0.84%, to 45,752.26, while the S&P 500 fell 103.40 points, or 1.56%, to 6,538.76. The Nasdaq Composite Index closed 486.18 points, or 2.15%, lower at 22,078.05.

Nvidia’s stock price dropped 3.15%, AMD’s stock price dropped 7.84%, Amazon’s stock price dropped 2.49%, Microsoft’s stock dropped 1.6%, Intel’s stock dropped 4.42%, and Palantir Technologies’ stock price dropped 5.85%. Tesla’s stock price fell 2.21%.

Wages in US nonfarm sectors

U.S. nonfarm payrolls rose by 119,000 in September after a downwardly revised decline of 4,000 in August. Economists polled by Reuters forecast that 50,000 jobs would be created in August after an increase of 22,000 in August.

Unemployment rate in the USA

USA unemployment rate rose in September to a four-year high of 4.4% from 4.3% in August. Other data showed that the number of layoffs remained low in mid-November, suggesting that the labor market is stabilizing.

Japan, PMI

Manufacturing activity in Japan declined for a fifth month in November. The S&P Global Flash Japan Manufacturing Purchasing Managers’ Index (PMI) rose to 48.8 in November from a final level of 48.2 in October, marking the fifth straight month below the 50.0 threshold.

Primary sector production

India basic infrastructure sector recorded zero growth in October, with production levels unchanged year-on-year, the weakest result in 14 months. The slowdown follows a steady slowdown, with growth slowing to 3.3% in September and 6.5% in August (adjusted from 6.3%). For comparison, in September 2024, this sector grew by 2.4%.

Dollar

On Friday, the dollar had its best week in over a month. The dollar index, which measures the greenback against a basket of other currencies, has flirted with a 5 1/2-month high and was last at 100.20. Against the dollar, the euro was near a two-week low and last bought at $1.1528, the pound sterling was up 0.11% at $1.3084, and the yen was trading near a 10-month low and last traded at 157.33 per dollar.

Gold prices

Gold prices remained stable after mixed U.S. jobs reports that provided no new incentive for the Federal Reserve to lower interest rates. Gold prices rose 0.1% to $4,082.90 an ounce.

Oil prices

Oil prices fell after Ukrainian President Volodymyr Zelensky agreed to work on a peace plan. Brent crude fell 0.66% to $62.97 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 0.69% to $58.59.

(with support from Reuters)