Indian stock market: 10 things that changed for market overnight- Gift Nifty, Big Beautiful Bill, to US nonfarm payrolls
Asian markets traded mixed, while the US stock market ended higher, with the S&P 500 and Nasdaq closing at record highs.
On Thursday, the Indian stock market ended lower, dragged by fag-end selling, extending losses for the second consecutive session.
The Sensex declined 170.22 points, or 0.20%, to close at 83,239.47, while the Nifty 50 settled 48.10 points, or 0.19%, lower at 25,405.30.
'Individual stocks continue to offer ample opportunities, supported by rotational buying across sectors and noticeable resilience in the broader market. Participants should align their positions accordingly, with a strong focus on stock selection,' said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian markets traded mixed Friday, following overnight gains on Wall Street. Japan's Nikkei 225 was flat while the Topix index rose 0.15%. South Korea's Kospi index fell 0.56% and the Kosdaq dropped 0.8%. Hong Kong's Hang Seng index futures indicated a lower opening.
Gift Nifty was trading around 25,526 level, a premium of nearly 18 points from the Nifty futures' previous close, indicating a mildly positive start for the Indian stock market indices.
US stock market ended higher, with the S&P 500 and Nasdaq closing at record highs on Thursday, after a surprisingly strong US jobs report cheered investors.
The Dow Jones Industrial Average rallied 344.11 points, or 0.77%, to 44,828.53, while the S&P 500 gained 51.94 points, or 0.83%, to 6,279.36. The Nasdaq Composite closed 207.97 points, or 1.02%, higher at 20,601.10. For the week, the S&P 500 surged 1.72%, the Nasdaq gained 1.62%, and the Dow jumped 2.3%.
Nvidia share price rose 1.3%, Apple shares gained 0.52%, Amazon stock price added 1.59% and Microsoft share price advanced 1.58%. Tripadvisor shares jumped 16.7% and Datadog stock price surged 14.9%.
Republicans in the US House of Representatives approved President Donald Trump's massive tax-cut and spending bill. The 218–214 vote capped a marathon push by Republicans to pass the $3.4 trillion 'One Big Beautiful bill', which will make Trump's 2017 tax cuts permanent, deliver new tax breaks, and fund his immigration crackdown.
The legislation will add $3.4 trillion to the nation's $36.2 trillion debt, according to the nonpartisan Congressional Budget Office.
Nvidia share price hit an all-time high, pushing its market capitalization near the $4 trillion mark and positioning it as the world's most valuable company. However, Nvidia stock ended the day up 1.33% at $159.34, with a market value of $3.89 trillion, placing it ahead of both Apple and Microsoft.
US job growth was unexpectedly solid in June. Nonfarm payrolls increased by 147,000 jobs last month after an upwardly revised 144,000 advance in May. Economists polled by Reuters had forecast payrolls rising 110,000 following a previously reported 139,000 gain in May.
The Labor Department's closely watched employment report showed the unemployment rate falling to 4.1% last month from 4.2% in May, that was partly because some people left the labor force.
The number of Americans filing new applications for jobless benefits fell to a six-week low last week. Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 233,000 - the lowest since mid-May - for the week ended June 28. Economists polled by Reuters had forecast 240,000 claims for the latest week.
The dollar held gains on Friday. Against the yen the dollar was traded at 144.69 yen, down 0.2% from late in the US trading day when it surged 0.8%. The euro added 0.1% to $1.1769, while sterling traded at $1.3668, up 0.1%.
Gold prices held steady on Friday, poised for a weekly gain. Spot gold price was flat at $3,328.36 per ounce. Bullion is up 1.7% this week. US gold futures edged down 0.1% to $3,337.90.
(With inputs from Reuters)
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