5 Key Things That Changed For Market Overnight

The domestic market indices opened muted on Friday, with GIFT Nifty down 5.95 points.

On Thursday, Sensex and Nifty saw significant declines of nearly 1.5%, driven by heavy selling in stocks like Infosys, Reliance Industries, and HDFC Bank, alongside mixed global market performances.

Asian equities declined, impacted by higher-than-expected inflation data from Tokyo, while US equity futures gained as investors prepared for the resumption of trading after the Thanksgiving holiday. Sectors such as IT, automotive, and consumer durables faced substantial losses amid rising geopolitical tensions.

Sensex closed down 1,190.34 points (1.48%) at 79,043.74, hitting a low of 78,918.92 during the day. The Nifty 50 fell 360.75 points (1.49%) to 23,914.15, reflecting cautious investor sentiment amid global uncertainties.

Here are key global market cues for Nifty 50 and Sensex today:

GIFT Nifty

Domestic market benchmark indices opened lower on Friday, with the GIFT Nifty falling 5.95 points from Thursday's finish. This drop underscores cautious investor sentiment amid weak global indications. Traders will monitor foreign patterns and economic data that could affect local markets throughout the day.

Crude Oil

Oil prices remained stable as traders focused on OPEC's output strategy after a major meeting was delayed. West Texas Intermediate was under $69 per barrel, with Brent crude above $73. The online meeting on December 5 will be crucial for OPEC as they decide whether to renew supply or extend existing cuts until 2025 to prevent market oversaturation.

Yen Surges

Climbing up by 1% to reach a six-week high of 150 per dollar on Friday, Yen witnessed a significant surge. This rise was fuelled by unexpectedly strong inflation figures in Tokyo, which bolstered expectations for a potential interest rate hike by the Bank of Japan next month.

Nikkei Index

Reversing early losses and trading higher following two days of dips, Japan's Nikkei share recovered on Thursday. At the midday break, the Nikkei was up 0.42% at 38,295.13, after falling as much as 0.87% earlier in the session.

Asian Markets

Asian shares experienced a slight decline on Friday as the yen aimed for its best weekly performance in four months, spurred by robust local inflation data that suggested a potential rate hike from the Bank of Japan. The MSCI Index, which tracks the shares across the Asia-Pacific region outside of Japan, dropped by 0.3% and is down 0.5% for the week.