Indian Stock Market Update: Key Overnight Developments—Gift Nifty, US Inflation, and Trump’s Tariff Moves
Gift Nifty was trading around 23,140 levels an increase of about 18 points over Nifty Futures' previous closing which indicates a positive or flat start for Indian indexes in the market for stocks.
Indian Stock Market Update: Key Overnight Developments—Gift Nifty, US Inflation, and Trump’s Tariff Moves
The equity benchmarks in the United States, namely, Sensex and Nifty 50 will likely start on a low note on Thursday. They will be following the stock market today around the world with mixed signals.
Asian markets climbed as the US stock market was with a mixed finish after a hotter than expected inflation figures.
On Wednesday this week, on Wednesday, the Indian stock market ended its volatile session lower, and extended its fall for the sixth time in a row.
The Sensex declined 122.52 points (or 0.16 percent, closing at 76,171.08 and the Nifty 50 closed 26.55 points which is 0.12 percent, lower at 23,045.25.
"Markets were extremely turbulent and fluctuated sharply during trading throughout the day. After plummeting more than 900 points in the trading in the early hours, markets recovered some ground in the final trades, but profit-taking on select stocks in IT banks, auto stock prices saw benchmarks finish slightly lower.
Asian Markets
Asian markets were trading higher on Thursday, compared to an overnight decline in Wall Street.
Japan's Nikkei 225 gained 0.54 percent, while the Topix increased 0.52 percent. South Korea's Kospi increased by 0.34 percent, while the Kosdaq gained 0.45 percent. The Hong Ko's Hang Seng index indicated a better opening.
Gift Nifty Today
Gift Nifty was trading around 23,140, which is a difference of 18 points over the previous Nifty futures' closing price, which indicates a positive or flat beginning for the Indian indexes in the market for stocks.
US Inflation
US consumer prices rose higher than anticipated in January. The CPI jumped 0.5 percent last month, after increasing 0.4 percent in December. Through January the CPI was up 3.0 percent after increasing 2.9 percent in December. Economic analysts polled by Reuters had predicted the CPI growing by 0.3 percent and rising 2.9 percent over the course of the year.
Trump Tariff
US Trump, the president of America Donald Trump said he would apply reciprocal tariffs as early as Wednesday evening for every country that imposes duty for US imported goods, Reuters reported. Trump's Trump administration has expressed concern about the fact that India has a high tariff that restricts US imports.
