10 Key Market Changes Overnight: Gift Nifty, US Stock Sell-Off & Bitcoin Reserves
Market Overview
Gift Nifty : The global financial markets witnessed significant fluctuations overnight, driven by multiple factors ranging from US trade policies to Bitcoin reserves. While Wall Street saw a sharp sell-off, Gift Nifty hinted at a weak opening for Indian markets. Asian markets remained under pressure, and the European Central Bank (ECB) made a key interest rate decision. Here are 10 key developments that shaped the market overnight.
1. Indian Stock Market Outlook
Indian equity indices, the Sensex and Nifty 50, are poised to open lower on Friday, influenced by weak global market cues. The previous trading session saw a strong rally, with Sensex closing at 74,340.09 (+0.83%) and Nifty 50 at 22,544.70 (+0.93%). However, volatility remains a concern amid ongoing uncertainty over US trade policy.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd., stated,
“The recent recovery is due to the oversold nature of the market. But Trump’s tariff policies may trigger renewed selling pressure.”
2. Gift Nifty Signals Weak Opening
Gift Nifty was trading around 22,557, reflecting a 63-point discount from Nifty futures’ previous close. This suggests a weak start for Indian indices as global sentiment remains bearish.
3. Wall Street Suffers Sharp Decline
The US stock market ended in deep red, led by sharp corrections in major tech stocks. The Nasdaq confirmed it has been in a correction phase since December.
- Dow Jones: 42,579.08 (-0.99%)
- S&P 500: 5,738.52 (-1.78%)
- Nasdaq Composite: 18,069.26 (-2.61%)
Notable stock movements:
- Tesla (-5.6%) | Nvidia (-5.74%) | Amazon (-3.68%)
- Microsoft (-1.03%) | General Motors (-2.6%) | Ford (-0.4%)
- Marvell (-20%) | Kroger (+2%) | Gap (+20% after-hours trading)
4. Asian Markets Under Pressure
Asian stocks mirrored Wall Street’s weakness:
- Japan’s Nikkei 225: -2.01%
- Topix Index: -1.8%
- South Korea’s Kospi: -1.15%
- Kosdaq: -0.57%
- Hong Kong’s Hang Seng futures: Signaling a weak open
Japanese bond yields hit a 16-year high, with the 10-year JGB yield touching 1.53%.
5. ECB Cuts Interest Rates
The European Central Bank (ECB) reduced its deposit rate by 25 basis points to 2.5%, marking its sixth rate cut since June. This move aims to counter slowing inflation and weakening economic growth in the Eurozone.
6. Trump’s Tariff Revisions
US President Donald Trump revised his tariff decision, granting temporary exemptions to Canada and Mexico under the US-Mexico-Canada Agreement (USMCA). While this softened immediate concerns, uncertainty remains over long-term trade relations.
7. US Bond Yields Rise
The yield on the US 10-year Treasury note rose to 4.35%, indicating increased risk aversion among investors. Rising bond yields could exert further pressure on equities.
8. Bitcoin Reserves and Crypto Market Movement
Bitcoin prices remained volatile amid reports of increasing institutional Bitcoin reserves. The cryptocurrency was last trading at $66,200, down 1.8%, reflecting the broader risk-off sentiment.
9. Oil Prices Decline
Crude oil prices fell as global growth concerns resurfaced:
- Brent Crude: $82.45 per barrel (-1.2%)
- WTI Crude: $78.10 per barrel (-1.5%)
A slowdown in economic activity could further weigh on energy demand.
10. Gold Prices Gain as Safe-Haven Demand Rises
Amid rising market uncertainty, gold prices moved higher:
- Spot Gold: $2,320 per ounce (+0.6%)
- US Gold Futures: $2,328 per ounce (+0.5%)
Investors sought safety in gold amid equity market volatility.
Financial Ratios & Market Data
| Market Index | Closing Value | % Change |
|---|---|---|
| Sensex | 74,340.09 | +0.83% |
| Nifty 50 | 22,544.70 | +0.93% |
| Dow Jones | 42,579.08 | -0.99% |
| S&P 500 | 5,738.52 | -1.78% |
| Nasdaq | 18,069.26 | -2.61% |
| Nikkei 225 | – | -2.01% |
| Kospi | – | -1.15% |
| Bitcoin | $66,200 | -1.8% |
| Brent Crude | $82.45 | -1.2% |
| Gold (Spot) | $2,320 | +0.6% |
Conclusion
Markets remain on edge amid global uncertainties. While the Indian stock market has shown resilience, risks persist due to geopolitical concerns, trade tensions, and inflationary pressures. Investors should brace for volatility and monitor key global developments closely.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.