Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open flat on Thursday, following mixed global market cues.
Asian markets traded mixed, while the US stock market ended mostly higher, with the Nasdaq and S&P 500 posting record closing highs.
On Wednesday, the Indian stock market indices ended lower, dragged by selling in select heavyweights.
The Sensex dropped 287.60 points, or 0.34%, to close at 83,409.69, while the Nifty 50 settled 88.40 points, or 0.35%, lower at 25,453.40.
“While global markets continue to display strength, the recent pause in Nifty 50 reflects caution, as participants await fresh triggers to resume the uptrend. We recommend maintaining a positive bias while focusing on stock selection, especially in sectors showing relative outperformance, with an eye on the risk-to-reward ratio,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed on Thursday, following overnight gains on Wall Street, and as investors await details on the US-Vietnam trade agreement.
Japan’s Nikkei 225 fell 0.15% and the Topix declined 0.21%. South Korea’s Kospi gained 0.77% and the Kosdaq rose 0.5%. Hong Kong’s Hang Seng index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 25,567 level, a premium of nearly 20 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.
Wall Street
US stock market ended mostly higher on Wednesday, with the S&P 500 and Nasdaq closing at record highs, boosted by gains in technology stocks and the US-Vietnam trade deal.
The Dow Jones eased 10.52 points, or 0.02%, to 44,484.42, while the S&P 500 rose 29.41 points, or 0.47%, to 6,227.42. The Nasdaq Composite closed 190.24 points, or 0.94%, higher at 20,393.13.
Tesla share price rallied 4.97%, Apple shares gained 2.22%, Nvidia stock price rose 2.58%, while Intel stock dropped 4.25%. Centene shares tumbled 40%.
US-Vietnam Trade Deal
US President Donald Trump announced an agreement with Vietnam that cuts US tariffs on many Vietnamese goods to 20% from his previously threatened 46%. Trump said that US products could enter Vietnam duty free.
US Private Payrolls
US private payrolls fell for the first time in more than two years in June. Private payrolls dropped by 33,000 jobs last month, the first decline since March 2023, after a downwardly revised increase of 29,000 in May, the ADP National Employment Report showed. Economists polled by Reuters had forecast the report would show private employment increasing by 95,000 following a previously reported gain of 37,000 in May.
Japan Services PMI
Japan’s service sector activity expanded at a slightly faster pace in June, with business confidence improving to a four-month high, Reuters reported. The final au Jibun Bank Japan Services purchasing managers’ index (PMI) rose to 51.7 in June from 51.0 in May, topping the flash figure of 51.5 and marking a third consecutive month of growth.
Crude Oil Prices
Crude oil prices eased on concerns over weak US demand after government data showed a surprise build in inventories. Brent crude futures fell 0.35% to $68.87 a barrel, while US West Texas Intermediate crude declined 0.36% to $67.21 a barrel.
Gold Prices
Gold prices declined after a US-Vietnam trade deal eased tensions. Spot gold price fell 0.3% to $3,345.57 per ounce, while US gold futures dropped 0.1% to $3,356.60.
(With inputs from Reuters)
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