Indian Stock Market: 10 Key Changes That Will Impact Markets Today
The Indian stock market is set to open lower on Friday, tracking losses in global markets amid weak investor sentiment. A combination of global economic data, corporate earnings, and currency fluctuations is influencing market trends. Here are 10 key things that changed overnight and could impact the Indian stock market today.
1. Asian Markets Drop Amid Weak Sentiment
Asian markets traded mostly lower on Friday, following weak global cues. Japan’s Nikkei 225 declined 0.43%, while the Topix fell 0.33%. South Korea’s Kospi dropped 0.14%, and Hong Kong’s Hang Seng index futures pointed to a mixed opening. Investor sentiment remained cautious amid global economic uncertainties.
2. Gift Nifty Indicates Negative Opening
The Gift Nifty, an indicator of how the Indian markets will open, was trading around 22,873, nearly 70 points below the previous Nifty futures close. This suggests a negative start for domestic indices Sensex and Nifty 50.
3. Wall Street Ends in Red, Walmart Drags Markets Lower
The US stock market closed lower on Thursday after Walmart’s disappointing earnings forecast dampened investor confidence.
- Dow Jones Industrial Average fell 450.94 points (1.01%) to 44,176.65
- S&P 500 lost 26.63 points (0.43%) to 6,117.52
- Nasdaq Composite dropped 93.89 points (0.47%) to 19,962.36
4. Walmart Stock Price Slumps 6.5%
Walmart’s stock price plunged 6.5% after the company’s sales and profit forecast fell below Wall Street expectations. The retailer expects annual sales to grow between 3% and 4%, lower than the estimated 4% growth.
5. US Jobless Claims Increase
The latest jobless claims data showed an increase of 5,000 claims, reaching 219,000 for the week ending February 15. This slight rise in unemployment applications indicates a softer labor market, which could impact Federal Reserve policy decisions.
6. Japanese Inflation Accelerates
Japan’s inflation rose higher than expected, with the core Consumer Price Index (CPI) climbing 3.2% year-on-year in January, up from 3.0% in December. This could impact monetary policy decisions by the Bank of Japan (BOJ).
7. Japan PMI Rebounds
The au Jibun Bank Japan flash manufacturing PMI improved slightly to 48.9 in February from 48.7 in January. Meanwhile, the services PMI rose to 53.1, signaling stronger growth in Japan’s services sector.
8. US Dollar Weakens for Third Consecutive Week
The US dollar continued its decline, with the Dollar Index dropping to 106.45, marking its third straight weekly loss. The Japanese yen strengthened to 149.285 per dollar, while the euro remained steady at $1.0498. A weaker dollar could impact foreign investments and emerging markets.
9. Gold Prices Hold Steady
Gold prices remained stable, marking an eighth consecutive weekly gain.
- Spot gold rose 0.1% to $2,941.25 per ounce
- US gold futures were steady at $2,956.60 per ounce
10. Crude Oil Prices Surge
Crude oil prices continued their upward trend, driven by supply concerns.
- Brent crude oil rose 0.30% to $76.71 per barrel
- US WTI crude futures gained 0.44% to $72.57 per barrel
Key Market Indicators & Financial Ratios
| Market Indicator | Value |
|---|---|
| Sensex Close | 75,735.96 (-203.22) |
| Nifty 50 Close | 22,913.15 (-19.75) |
| Gift Nifty | 22,873 (-70) |
| Dow Jones | 44,176.65 (-450.94) |
| S&P 500 | 6,117.52 (-26.63) |
| Nasdaq | 19,962.36 (-93.89) |
| Gold (Spot) | $2,941.25 (+0.1%) |
| Brent Crude Oil | $76.71 (+0.30%) |
| US Dollar Index | 106.45 (-0.2%) |
| US Jobless Claims | 219,000 (+5,000) |
Market Outlook
Experts believe that the Nifty 50 may continue to consolidate near 22,800 – 22,900 levels, as seen in the past seven trading sessions. Investors should watch for global market trends, oil prices, and upcoming economic data for further direction.
Conclusion
With a negative opening expected, investors should brace for volatility in today’s trading session. Global cues, including US market movements, crude oil fluctuations, and dollar weakness, will play a crucial role in shaping market sentiment.
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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.