7 Key Changes for Indian Stock Market Today: Global Selloff in Chip Stocks, Oil Prices Drop, and More

The Indian stock market is expected to open lower today as the global markets faced downturns. Here’s a look at the key factors influencing today’s trading session:

1. Asian Markets: Asian markets dropped following Wall Street’s losses, with Japan’s Nikkei 225 falling 1.85%, and South Korea’s Kospi down by 1.22%.
2. Gift Nifty: Trading around the 25,045 level, Gift Nifty suggests a negative start for the Indian stock market with a discount of about 80 points compared to the previous Nifty close.
3. US Markets: Wall Street closed lower, led by a 1% drop in the Nasdaq. Chip stocks like Nvidia fell sharply, and the energy sector dropped 3%.
4. US Fed Outlook: Federal Reserve officials suggested more rate cuts may come this year, depending on economic data.
5. Japan Machinery Orders: Japan’s machinery orders dropped 1.9% in August, marking the second straight month of decline.
6. Oil Prices: After dropping over 4% on Tuesday, oil prices slightly recovered with Brent crude rising to $74.51 per barrel.
7. Gold Prices: Gold prices remained steady, awaiting key US economic reports, with spot gold hovering at $2,660 per ounce.

These global shifts, including the selloff in US tech and energy stocks, falling oil prices, and Fed signals, will impact the Indian market today.