Market volatility: 8 overnight fluctuations in Indian stock exchange

Stock Market?

The stock market is an exchange avenue where investments can be made by trading shares, derivatives, bonds, etc. It is a dynamic space for the meeting of buyers and sellers. Some prominent changes have occurred in the market overnight. Here are some key insights about the overnight changes!

Domestic stock

The key indices of the Indian stock market concluded Tuesdays trading session with slight losses, despite reaching a new high during the day. Amidst cautiousness on Wednesday with global market cues, the domestic equity market is expected to open higher.

Stocks in focus

Siddhartha Khemka, the head of retail research at Motilal Oswal Financial Services Ltd., said that rural and agriculture-related stocks are expected to be in focus after Skymet forecast a normal monsoon for India in 2024.

Oil market

Crude oil prices are stable after two consecutive days of losses. US West Texas Intermediate crude futures gained 0.04% to $85.26, while Brent crude futures rose 0.01% to $89.43 per barrel.

Fluctuation in currency

Close to its 34-year low, the yen strengthened 0.06% to 151.70 per dollar. The euro stood stable at $1.085575. Pound Sterling was flat at $1.26760.The US dollar index, ahead of the key inflation report, stood firm at 104.10.

Sensex and Nifty

The Nifty 50 index settled 23.55 points, or 0.1%, lower at 22,642.75. While the Sensex fell 58.80 points, or 0.08%, to close at 74,683.70.

Asian- US markets

Trade among the Asian markets was mostly lower, while US stocks ended mixed overnight ahead of key inflation data. S&P 500 rose 7.52 points, or 0.14%, to 5,209.91; Nasdaq Composite ended 52.68 points, or 0.32%, higher at 16,306.64; and the Dow Jones Industrial Average fell 9.13 points, or 0.02%, to 38,883.67.

US Treasury Yields

The US 10-year Treasury yield fell 6.6 basis points to 4.358%, while the 30-year bond yield fell 5.7 basis points to 4.4964%. The yield on the 2-year note fell 5.1 bps to 4.7384%.

Gift Nifty Today

The Gift Nifty was trading at a premium of around 80 points from the previous closing of the Nifty futures, which suggests that the Indian stock market indices are off to a strong start. It was trading at roughly 22,813.