Indian Stock Market Overnight: 7 Key Changes You Need to Know

The Asian markets showed a mixed trend, and the US markets also closed with mixed results overnight. The Nasdaq hit a new record high, surpassing 17,000 for the first time. Factors such as a rise in US Treasury yields, hawkish comments from US Federal Reserve officials, and caution ahead of key economic data releases affected the markets.

On Tuesday, the Indian stock market’s main indices ended lower for the third consecutive session. The Sensex dropped 220.05 points to close at 75,170.45, and the Nifty 50 settled 44.30 points lower at 22,888.15.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd., expects the Nifty to remain sideways to marginally positive due to reduced FII selling, predictions of above-normal monsoon, and the last leg of Q4 results.

Here are seven key global market cues for the Sensex today:

1. Asian Markets: Asian markets traded with a mixed trend, following a similar pattern as Wall Street overnight.

2. Gift Nifty Today: Gift Nifty was trading around the 22,835 level, indicating a gap-down start for the Indian stock market indices.

3. Wall Street: The US stock market closed with mixed results, with the Nasdaq crossing 17,000 for the first time.

4. US Consumer Confidence: US consumer confidence unexpectedly improved in May after declining for three straight months.

5. US Federal Reserve: Federal Reserve Bank of Minneapolis President Neel Kashkari mentioned that the US central bank’s policymakers haven’t entirely ruled out additional interest rate increases.

6. Treasury Yields and Dollar: US Treasury yields rose to multi-week highs after two lackluster debt auctions, while the dollar gained as well.

7. Oil Prices: Crude oil prices extended gains amid heightened geopolitical tensions in the Middle East ahead of an OPEC meeting.