Indian stock market: 8 key things that changed for market overnight - Gift Nifty, US-Japan Trade Deal to Nikkei's rally
Asian markets traded higher after the US-Japan trade deal, while the US stock market ended mixed overnight, with the S&P 500 posting record-high close.
On Tuesday, the Indian stock market indices ended the volatile session on a flat note with negative bias.
The Sensex fell 13.53 points, or 0.02%, to close at 82,186.81, while the Nifty 50 settled 29.80 points, or 0.12%, lower at 25,060.90.
'The market continues to lack clear direction amid mixed earnings announcements and muted global cues. Traders should adopt a hedged approach and focus on fundamentally strong counters, with an emphasis on earnings performance,' said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian markets traded higher after US President Donald Trump announced a 'massive' trade deal with Japan.
Japan's Nikkei 225 jumped 2%, while the Topix rallied 1.87%. Toyota, Nissan, Honda and other Japanese auto stocks surged after the US-Japan trade deal. South Korea's Kospi gained 0.89% and the small-cap Kosdaq was 0.22% higher. Hong Kong's Hang Seng index futures indicated a stronger opening.
Gift Nifty was trading around 25,162 level, a premium of nearly 68 points from the Nifty futures' previous close, indicating a positive start for the Indian stock market indices.
US stock market ended mixed on Tuesday, with the S&P 500 eking out a record-high close.
The Dow Jones Industrial Average rose 0.40% to 44,502.44, while the S&P 500 added 0.06% to end at 6,309.62. The Nasdaq closed 0.39% lower at 20,892.69,
Tesla share price gained 1.1%, Nvidia share price declined 2.54%, Meta Platforms and Microsoft shares lost about 1% and Alphabet stock price rose 0.65%. RTX stock price declined 1.6%, GM Motors shares tumbled 8.1%, while Ford Motor stock price fell about 1%. Lockheed Martin shares tumbled almost 11%
President Donald Trump said the US and Japan had struck a trade deal that includes a lower 15% tariff that will be levied on US imports from the country, including autos, Reuters reported. In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States. Reports said that US auto tariffs were lowered to 15% from the current 25%.
The Union Cabinet approved the free trade agreement with the United Kingdom, news agency PTI reported. The pact, described by Prime Minister Narendra Modi as a 'landmark deal,' will be signed during his visit to London this week. Commerce and Industry Minister Piyush Goyal will accompany Modi.
Gold prices rose to a more than five-week peak, supported by a softer US dollar and lower Treasury yields. Spot gold price was steady at $3,430.19 per ounce, after hitting its highest since June 16 earlier in the session. US gold futures were flat at $3,443.30.
Crude oil prices steadied after the US-Japan trade deal and a poll that showed US crude stockpiles fell last week. Brent crude futures rose 0.48% to $68.92 a barrel, while US West Texas Intermediate crude futures rose 0.51% to $65.64 per barrel.
The dollar was on a shaky footing against the yen. The dollar was largely flat at 146.61 yen, having slid 0.5% in the previous session. The euro stood at $1.1739, down 0.1%. Sterling was little changed at $1.35235, off 0.1%. The dollar index, which tracks the greenback against major peers, was little changed at 97.430 after a three-day decline.
(With inputs from Reuters)
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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