Indian stock market benchmarks Sensex and Nifty 50 are expected to open lower on Friday following mixed global cues. Though India’s market ended Thursday in green for the fifth consecutive day—with Sensex gaining 254 points (0.33%) to 77,409 and Nifty 50 rising 82 points (0.34%) to 24,168—overnight developments have shifted sentiment.
Key Overnight Changes:
1. Gift Nifty Gap-Down: Gift Nifty traded around 24,001, a discount of 191 points from Nifty futures’ previous close, signaling a gap-down opening.
2. US Tech Stocks Rally: Nasdaq surged 1.91% to 26,517, boosted by semiconductor gains. Nvidia rose 2.95%, AMD jumped 4.86%, and Intel soared 10.64%.
3. Wall Street Gains: Dow Jones rose 0.14% to 51,564, while S&P 500 gained 1.08% to 7,500.
4. Accenture Earnings Shock: Accenture’s Q3 revenue grew to $18.7 billion, but it lowered revenue guidance to 3-4%. Shares plunged 17.97%.
5. US-Iran Peace Deal: A preliminary ceasefire ended restrictions on Iran, allowing oil tankers to pass through Strait of Hormuz again.
6. Crude Oil Drops: Brent crude fell 0.84% to $79.18/barrel as shipping normalized.
7. US Jobless Claims: Unemployment claims dropped 4,000 to 226,000.
8. Japan Inflation: Core inflation stayed at 1.4%, below the central bank’s 2% target.
9. Gold Prices Fall: Gold declined 0.5% to $4,189/ounce.
10. Dollar Index Hits High: US dollar index rose 0.45% to 100.80, a one-year peak.
FAQs [Frequently Asked Questions]
Q1: Why will Indian markets open lower today?
Gift Nifty traded at 24,001, a 191-point discount from Nifty futures, indicating a gap-down start for Sensex and Nifty 50.
Q2: How did US tech stocks perform overnight?
Nasdaq rallied 1.91% to 26,517. Nvidia rose 2.95%, AMD surged 4.86%, and Intel jumped 10.64% on semiconductor gains.
Q3: What happened to Accenture shares after earnings?
Though Q3 revenue hit $18.7 billion, Accenture lowered guidance to 3-4%. Shares plunged 17.97% on the outlook cut.