Indian stock market: 6 key things that changed overnight - Gift Nifty, US-China tariff truce to Nikkei at record high
Asian markets traded higher, with Japan's Nikkei hitting record high, while the US stock market ended lower overnight.
On Monday, the Indian stock market witnessed a short-covering rally, led by buying across the board.
The Sensex surged 746.29 points, or 0.93%, to close at 80,604.08, while the Nifty 50 settled 221.75 points, or 0.91%, higher at 24,585.05.
'It appears that the markets have largely digested the recent tariff-related concerns and are now focusing more on earnings cues, with the results season nearing its end. Additionally, oversold positions in heavyweights are providing support. Traders should maintain a hedged approach and focus on stocks consistently displaying relative strength for long positions,' said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian markets traded higher on Tuesday after the US-China trade truce extension overnight. Japan's Nikkei 225 rallied 2% to hit a record high, while the Topix index gained 0.74%. South Korea's Kospi rose 0.93%, while the Kosdaq added 0.4%. Hong Kong's Hang Seng index futures indicated a weaker opening.
Gift Nifty was trading around 24,580 level, a discount of nearly 47 points from the Nifty futures' previous close, indicating a weak start for the Indian stock market indices.
US stock market ended lower on Monday as investors eye US-China trade developments.
The Dow Jones Industrial Average fell 200.52 points, or 0.45%, to 43,975.09, while the S&P 500 dropped 16.00 points, or 0.25%, to 6,373.45. The Nasdaq Composite closed 64.62 points, or 0.3%, lower at 21,385.40.
Nvidia share price declined 0.35%, Advanced Micro Devices shares fell 0.28%, while Micron Technology stock price rallied 4% and Intel shares gained 3.5%. Tesla stock price surged 2.84%, Apple stock price fell 0.83% and Amazon shares eased 0.62%.
The United States and China extended a tariff truce for another 90 days. US President Donald Trump announced on his Truth Social platform that he had signed an executive order suspending the imposition of higher tariffs until 12:01 a.m. EST on November 10, with all other elements of the truce to remain in place.
Crude oil prices rose as the United States and China extended a pause on higher tariffs. Brent crude futures gained 0.30% to $66.83 a barrel, while US West Texas Intermediate crude futures rose 0.25% to $64.12.
Gold prices rose after a sharp fall in the previous session, as investors looked forward to US inflation data. Spot gold price gained 0.3% to $3,355.59 per ounce, while US gold futures for December delivery edged 0.1% higher to $3,406.80.
(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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