10 major factors that affected the Indian stock market overnight

Attention India
5 Min Read

Indian stock market: The Gift Nifty was trading at a premium of around 6 points from the previous closing of the Nifty futures, at 22,173 points. This suggests that the Indian stock market indices have had a flat start.

The US Federal Reserve’s favored inflation indicator, the Personal Consumption Expenditures Price Index (PCE), is expected on Good Friday, when the stock markets are closed. Investors will be watching for this release.

The Nifty 50 closed 118.95 points, or 0.54%, higher at 22,123.65, while the Sensex gained 526.01 points, or 0.73%, to end at 72,996.31.

“The market ended the day on a bullish note thanks to stock-specific moves and strong undercurrents brought on by a strong economic growth estimate.

Markets in Asia

Thursday saw a decline in Asian markets while Australian stocks reached a record high. Japan’s Topix fell 1.08%, and the Nikkei 225 fell 0.98%. The Kospi in South Korea dropped 0.19%, and futures on the Hong Seng index in Hong Kong suggested a lower beginning.

Gift Nifty Today The Indian stock market indices had a flat start as Gift Nifty was trading at about 22,173, which was a premium of almost 6 points over the Nifty futures’ previous close.

Wednesday’s closing record-setting S&P 500 helped Wall Street US stock market indices close higher ahead of US Federal Reserve remarks and inflation statistics that would have indicated the US central bank’s future course for interest rates.

The S&P 500 increased by 44.91 points, or 0.86%, to 5,248.49, while the Dow Jones Industrial Average gained 477.75 points, or 1.22%, to 39,760.08. At 16,399.52, the Nasdaq Composite closed 83.82 points, or 0.51%, higher.

Stocks saw a 14.19% increase in shares of Trump Media & Technology Group and a 4.96% increase in Merck & Co. Shares of Nvidia fell 2.5 percent, while those of GameStop fell 15.03%.

Waller, the Fed Governor

According to Bloomberg News, US Federal Reserve Governor Christopher Waller stated that there is no urgency to lower interest rates and that recent economic data justifies postponing or limiting the amount of rate reduction this year. Waller said he wants to see “at least a couple months of better inflation data” before reducing rates, calling the most recent inflation figures “disappointing.”

US Dollar

On Thursday, the US dollar strengthened versus its main currency counterparts. The dollar index, which compares the US dollar to a number of important rival currencies, increased slightly and was last seen at 104.41. The Japanese Yen hit a 34-year low versus the US dollar on Wednesday, trading at 151.975, its highest level since mid-1990. It was last seen trading at 151.37.

Minutes of Bank of Japan Meetings

A summary of views expressed by board members at the Bank of Japan’s March meeting revealed that the bank’s policymakers were divided over whether the economy was robust enough to withstand the end of the institution’s negative interest rate policy. Many felt that the ultra-loose monetary policy should be phased out gradually.

Oil Costs

A robust quarterly advance in crude oil prices was anticipated, driven by anticipation of OPEC supply curbs. After a little two-day decline, West Texas Intermediate increased 0.49% to $81.75 a barrel, while Brent crude increased 0.31% to $86.36.

Government Loan Program

In the first half of the next fiscal year, the federal government plans to borrow ₹7.50 lakh crore, or 53% of its total FY25 objective. In order to finance the borrowing for FY25, ₹12,000 crore in sovereign green bonds and dated government securities would be issued. In the interim budget for FY25, the market borrowing was fixed at ₹14.13 lakh crore.

T+0 Settlement Cycle: Exchange of Stocks The list of 25 equities that are qualified for the abbreviated T+0 settlement cycle as of today, March 28, has been made public by the BSE and NSE. For these 25 equities, the T+0 settlement will only be available for trades that are completed between 9:15 am and 1:30 pm. View the complete list by clicking this link.

Nifty Indexes Adjusted

Today marks the start of the Nifty indices’ semi-annual rebalance, with adjustments made on March 27. It is projected that the Nifty index revision will result in $652 million in of inflows into stocks, including those of NTPC, Adani Power, HDFC Bank, Shriram Finance, and Jio Financial Services.

Share This Article
Leave a comment

Leave a Reply