Indian stock market: 7 key things that changed for market overnight Gift Nifty to US private payrolls data

Indian stock market: The domestic equity indices, Sensex and Nifty 50,are expected to open on a cautious note Friday following mixed cues from global peers. Asian markets traded mixed, while the US stock market indices ended mostly lower overnight amid selloff in technology stocks and a spike in US Treasury yields.

Robust signals from the labor market weighed on expectations for interest rate cuts by the US Federal Reserve. Meanwhile, India is likely to project higher economic growth estimates of around 7% for FY24, compared with earlier government forecasts when the National Statistical Office releases its first advance on Friday.

The domestic equity benchmark indices resumed their upward march on Thursday, snapping their two day losing run, amid across the board buying despite mixed global cues. The rallied 490.97 points, or 0.69%, to end at 71,847.57, while the Nifty 50 closed 141.25 points, or 0.66%, higher at 21,658.60. “Impressive quarterly business updates from financial heavyweights lifted domestic equities, despite weak global cues.

Overall, the market showed strong resilience, which is likely to strengthen further as we head into the result season and more companies announce their business updates," said Siddhartha Khemka, Head Retail Research, Ltd. Here are key global market cues for Sensex today: Asian Markets Asian markets traded mixed on Friday tracking overnight losses on Wall Street and ahead of the key economic data in the region.

Japan’s Nikkei 225 gained 0.11%, while Topix rose 0.32%. South Korea’s Kospi eased 0.08% and Kosdaq was flat. Hong Kong’s Hang Seng index futures pointed to a weaker opening. Australia’s S&P/ASX 200 rose 0.05%. Gift Nifty Gift Nifty was trading around 21,773 level as compared to Nifty futures previous close of 21,809, indicating a tepid start for the Indian stock market indices.

US Stock Market The US stock market indices ended mixed on Thursday with the S&P 500 and Nasdaq Composite closing lower dragged by selling in technology stocks amid rise in Treasury yields. The S&P 500 lost 16.13 points, or 0.34%, to close at 4,688.68 points, while the Nasdaq Composite declined 81.91 points, or 0.56%, to 14,510.3.

The Dow Jones Industrial Average ended 10.15 points, or 0.03%, higher at 37,440.34. Among stocks, banks gained with Allstate rising 2.4%, while JPMorgan Chase & Co and Truist Financial Corp gainied 0.7% and 1.3% respectively. Big tech stocks ended lower. Amazon shares fell 2.6%, Alphabet declined 1.8%, while Apple share price slipped 1.3%.

Mobileye Global tanked 24.5% and Walgreens Boots Alliance dropped 5.1%. Apple share price Apple share price declined 1.2% to $181.91 on Thursday, its fourth straight negative session. Apple shares have fallen 5.5% this year, wiping off $164 billion in market value, according to data compiled by Bloomberg.

The weakness in Apple shares comes after Piper Sandler became the second brokerage this week to downgrade the stock on worries of tepid demand for its products, including the iPhone. The brokerage downgraded the rating on Apple’s stock to “neutral" from “overweight" and cut its price target by $15 to $205.

US Private Payrolls Rise US private employers hired more workers than expected in December, pointing to persistent strength in the labor market. Private payrolls increased by 164,000 jobs last month, the ADP National Employment Report showed, the largest monthly increase since August. Economists polled by Reuters had forecast private payrolls rising 115,000.

Weekly Jobless Claims Fall The number of Americans filing new claims for unemployment benefits fell more than expected last week. Initial claims for state unemployment benefits dropped 18,000 to a seasonally adjusted 202,000 for the week ended December 30. Economists polled by Reuters had forecast 216,000 claims for the latest week.

US Treasury Yields The US Treasury yields rose after robust jobs data raised doubts about how soon and deeply the Federal Reserve could start cutting interest rates. The yield on the 10 year Treasury rose to 3.99%, while that on the two year Treasury, which more closely tracks expectations for the Fed, climbed to 4.39%.

Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!.