Indian stock market: The equity market benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday, following mixed cues from global markets.
Asian markets traded mostly higher, while the US markets ended mixed, with the Nasdaq posting a record high close.
This week, investors will focus on key stock market triggers, including the developments over India-US trade deal, US Federal Reserve policy, India-EU trade deal, flow of foreign funds, and other key domestic and macroeconomic data.
On Friday, the Indian stock market ended higher, with the benchmark Nifty 50 closing above 25,100 level.
The Sensex rallied 355.97 points, or 0.44%, to close at 81,904.70, while the Nifty 50 settled 108.50 points, or 0.43%, higher at 25,114.00.
“The near-term market outlook remains constructive, albeit with potential volatility around central bank events, while progress in India–US trade negotiations could provide an additional boost to investor confidence,” said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed as investors eyed US-China trade talks and awaited a slate of data from Beijing. South Korea’s Kospi index gained 0.47%, while the Kosdaq rose 0.4%. Hong Kong’s Hang Seng Index futures indicated a lower opening. Japanese and Malaysian markets were closed for a holiday.
Gift Nifty Today
Gift Nifty was trading around 25,161 level, a discount of nearly 43 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
Wall Street
US stock market ended mixed on Friday, with the Nasdaq notching a record high close.
The Dow Jones Industrial Average declined 0.59% to 45,834.22, while the S&P 500 dropped 0.05% to end the session at 6,584.29. The Nasdaq closed 0.45% higher at 22,141.10. For the week, the S&P 500 rallied 1.6%, the Dow Jones rose almost 1% and the Nasdaq surged 2%.
Microsoft shares gained 1.8%, Nvidia share price rose 0.37%, while Tesla stock price jumped 7.4% and Warner Bros Discovery stock surged 17%. Moderna shares declined 7.4%, while Pfizer and Novavax both lost more than 3%.
US-China Trade Talks
US and Chinese officials concluded a first day of talks in Madrid on Sunday on their strained trade ties, a looming divestiture deadline for Chinese short-video app TikTok, amid Washington’s demands that its allies place tariffs on imports from China over its purchases of Russian oil, Reuters reported.
US Consumer Sentiment
US consumer sentiment fell for a second straight month in September. The University of Michigan’s Surveys of Consumers said its Consumer Sentiment Index fell to 55.4 this month, the lowest since May, from a final reading of 58.2 in August. Economists polled by Reuters had been expecting a reading of 58.0, little changed from the month before.
US Inflation Expectations
The measure of consumer expectations for US inflation over the next year was unchanged at 4.8% this month, a survey shows. Consumers’ expectation for inflation over the next five years rose to 3.9% from 3.5% last month.
India CPI Inflation
India’s retail inflation rose for the first time since October 2024. Consumer price index (CPI)-based inflation rose 2.07% YoY in August, up from a revised 1.61% in July (earlier estimated at 1.55%). Economists polled by Mint had expected a slightly higher print of 2.2%.
SEBI Board Meeting
Sebi board approved a slew of reforms, including relaxation in the minimum public shareholding (MPS) requirement, easier norms for low-risk foreign investors to participate in the Indian securities market, reclassifying REITs as “equity”, reducing maximum exit loads for mutual funds, among others.
Gold Prices
Gold prices held steady, hovering near a record high, as investors focused on the US Federal Reserve meeting this week. Spot gold price held its ground at $3,636.73 per ounce. US gold futures for December delivery were down 0.2% at $3,673.60.
Crude Oil Prices
Crude oil prices traded higher as investors assessed the impact of Ukrainian drone attacks on Russian refineries. Brent crude futures rose 0.18% to $67.11 a barrel, while US West Texas Intermediate crude gained 0.22% to $62.83 a barrel.
(With inputs from Reuters)
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