Asian markets rebounded from lows to trade higher, while the US stocks ended lower overnight dragged by selling tech shares and hopes of interest rates staying higher for longer after strong US GDP data
Asian markets rebounded from lows to trade higher, while the US stocks ended lower overnight dragged by selling tech shares and hopes of interest rates staying higher for longer after strong US GDP data.
The domestic equity market suffered steep losses on Thursday with the benchmark indices ending lower for the sixth consecutive session amid multiple headwinds.
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Business News/ Markets / Stock Markets/ 6 things that changed for the stock market overnight - Gift Nifty, US GDP growth to corporate earnings
6 things that changed for the stock market overnight - Gift Nifty, US GDP growth to corporate earnings
3 min read
27 Oct 2023, 07:08 AM IST
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Livemint ,Edited By Ankit Gohel
Asian markets rebounded from lows to trade higher, while the US stocks ended lower overnight dragged by selling tech shares and hopes of interest rates staying higher for longer after strong US GDP data.
Japan’s Nikkei 225 traded 0.56% higher and the Topix gained 0.6%.
Japan’s Nikkei 225 traded 0.56% higher and the Topix gained 0.6%.
The Indian stock market indices, Nifty 50 and Sensex, are expected to open on a weak note Friday tracking mixed cues from global peers.
Asian markets rebounded from lows to trade higher, while the US stocks ended lower overnight dragged by selling tech shares and hopes of interest rates staying higher for longer after strong US GDP data.
The domestic equity market suffered steep losses on Thursday with the benchmark indices ending lower for the sixth consecutive session amid multiple headwinds.
The Sensex plunged 900.91 points, or 1.41%, to 63,148.15, while broader Nifty 50 tanked 264.90 points, or 1.39%, to 18,857.25.
“Given the global uncertainties, there could be higher volatility in the near term and thus giving long term investors an opportunity to accumulate quality stocks at lower levels. We suggest to make higher allocation towards large caps as valuations are comfortable along with steady growth prospects," said Siddhartha Khemka, Head - Retail Research,
Here are key global market cues for Sensex today:
Asian Markets
Asian markets rebounded to trade higher on Friday as investors weighed on key economic data in the region.
Japan’s Nikkei 225 traded 0.56% higher and the Topix gained 0.6%. South Korea’s Kospi added 0.19%, while the Kosdaq fell marginally.
Hong Kong’s Hang Seng index futures were higher at 17,136, compared to the HSI’s close of 17,044.61.
Australia’s S&P/ASX 200 rose 0.29%, bouncing from a one-year low in the previous session.
Gift Nifty was trading around 18,953 as against Nifty futures’ previous close of 18,966, indicating a tepid start for the Indian indices.
The US stock market ended lower on Thursday dragged by tech shares amid mixed quarterly earnings. The tech-heavy Nasdaq suffered the biggest percentage drop on cloudy earnings guidance and signs of economic resiliency that could lead the Federal Reserve to keep interest rates higher for longer than expected.
The Dow Jones Industrial Average declined 251.63 points, or 0.76%, to 32,784.3, while the S&P 500 dropped 49.54 points, or 1.18%, to 4,137.23. The Nasdaq Composite ended 225.62 points, or 1.76%, lower at 12,595.61.Data showed that the US economy grew 4.9% in the third quarter.
Among stocks, Meta Platforms shares fell 3.7%, Alphabet shares tumbled 9.5% and Microsoft rose 3.1%.
Western Digital Corp slid 9.3%, while IBM shares jumped 4.9%. Amazon share price gained over 5% in extended trading