Stock Market Morning Report: Gift Nifty is trading slightly lower by 5 points or 0.02% at 19490 levels. However, the overall sentiment from international markets suggests a positive trend, indicating a potentially green start for the Indian stock markets.
US Markets Recap:
US stock market indexes concluded on a high note during its previous session. The Dow Jones and S&P 500 registered gains for the seventh consecutive session, while the Nasdaq rose for the eighth day. Despite hawkish comments from Fed officials, Treasury yields fell, with the 10-year Treasury yield dropping to 4.568%. This drop came after remarks from Fed Governor Michelle Bowman hinted at possible further rate hikes.
Asian Markets Update:
Asian markets are exhibiting a positive tone after a previous session’s decline. Australia’s S&P ASX 200 index is up by 0.19%, while South Korea’s Kospi, although lower by 0.34% today, had experienced a significant decline of more than 2% in the prior session.
European Markets Snapshot:
European markets witnessed a mixed closure on Tuesday. Energy stocks took a hit as crude oil prices declined, causing the pan-European Stoxx 600 index to dip slightly by 0.16%. Saudi oil giant Aramco reported a sharp fall in profit, affecting the oil & gas sector. On the brighter side, tech stocks saw gains while weak trade data from China contributed to the fall in crude oil prices.
Key Points for Investors:
- The US trade gap widened in September, primarily due to increased imports over exports.
- Uber Technologies saw a more than 3% increase in shares, despite missing expectations on revenue and profit. However, positive performance in gross bookings, reflecting the value of transactions on its app, offered a silver lining.
Expectation for Indian Markets:
With positive indications from the US and most Asian markets trading in the green, the Indian stock markets are anticipated to open on a positive note and maintain a favorable trajectory throughout the trading day.
