8 Major Market Changes Over the Weekend: Indian Stock Market’s Opening Week Outlook

India’s stock markets, Sensex and Nifty 50, are expected to open with little movement on Monday due to mixed signals from global markets. Here’s a quick look at the top trends that may affect trading:

1. Mixed Asian Market Movement

• Most Asian markets opened higher, with Japan leading gains after the yen hit a three-month low post-elections. The Nikkei rose 1.79%, while the Kospi and Kosdaq in South Korea also saw growth.

2. Gift Nifty Shows a Steady Start

• The Gift Nifty was trading at around 24,223, showing a slight 10-point increase from the Nifty futures’ previous close, signaling a flat-to-positive opening.

3. US Market Closes Mixed

• In the US, the Dow fell 0.61%, while the S&P 500 remained mostly flat. Meanwhile, the Nasdaq rose 0.56% as tech giants like Tesla, Nvidia, Amazon, and Apple saw gains.

4. Japan’s Political Shifts

• Japan’s election results saw the ruling coalition led by Prime Minister Shigeru Ishiba lose its majority, leading to uncertainty about the government’s future direction.

5. China’s Central Bank Action

• The People’s Bank of China activated its reverse repo facility to conduct monthly open-market operations, aiming to improve market liquidity.

6. Oil Prices Drop Amid Eased Conflict Fears

• Crude oil prices dropped significantly as fears of a Middle East escalation faded. Brent crude slid 4.48% to $72.64 per barrel, while US WTI fell 4.63% to $68.46 per barrel.

7. Gold Prices Fall as Dollar Strengthens

• Spot gold decreased 0.5% to $2,732.90 per ounce, pressured by a strong US dollar. The US gold futures also dropped slightly to $2,745.30.

8. Currency Market Shake-Up

• The US dollar index surged 3.6% in October, its sharpest rise since April 2022. The yen reached a three-month low against the dollar, while the euro and pound both saw notable declines for the month.

Key Focus This Week: Investors will keep an eye on Q2 2024 earnings reports, derivative expiry, ongoing Middle East tensions, crude oil trends, and global economic updates as they make trading decisions for the week ahead.