Indian Stock Market: Asian markets were mostly trading lower, while the US stock market ended a mixed week with the Nasdaq and S&P 500 hitting record highs.
Indian stock market: Domestic equity benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday on weak global cues.
Asian markets were mostly lower, while US stocks were mixed over the weekend, with Nasdaq and S&P 500 closing at record highs.
The fall of Syrian President Bashar al-Assad's regime led to political upheaval in France and South Korea, complicating an already fraught situation in the Middle East and escalating global geopolitical tensions.
This week, investors will be keeping an eye on key stock market triggers including domestic and global macroeconomic data, upcoming IPOs, foreign fund flows, Russia-Ukraine geopolitical tensions, US bond yields, dollar, crude oil prices and other global market cues.
Also read: Inflation data, IPO action, FII inflows, global cues to guide markets this week
On Friday, Indian stock market benchmark indices closed marginally lower after the Reserve Bank of India (RBI) announced its monetary policy.
The Sensex closed down 56.74 points or 0.07% at 81,709.12, while the Nifty 50 fell 30.60 points or 0.12% to 24,677.80.
“The primary market is gearing up for a dynamic week, with three mainline IPOs, including Vishal Mega Mart IPO and Mobikwik IPO, open for public subscription along with five SME offerings. We expect the Nifty 50 to maintain its gradual rally, on possible liquidity boost after RBI's CRR cut, positive news flows on government policies and return of FII inflows," said Siddharth Khemka, Head of Research, Wealth Management, Motilal Oswal Financial. Services Ltd.
Here are the key global market signals for the Sensex today:
Asian Markets
Asian markets were mixed on weak regional economic data and global geopolitical tensions.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2%.
Japan's Nikkei 225 rose 0.5%, while the Topix rose 0.4%. South Korea's KOSPI fell 1.6%, while the KOSDAQ fell 2.9%, amid ongoing political turmoil in the country. Hong Kong Hang Seng Index futures suggest lower opening.
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Gift Nifty Today
Gift Nifty was trading around the 24,730 level, a 50-point discount from the previous close of Nifty futures, signaling a negative start for Indian stock market indices.
Wall Street
US stocks ended mixed on Friday with the Nasdaq and S&P 500 rising to record closing highs.
The Dow Jones Industrial Average fell 123.19 points, or 0.28%, to 44,642.52 while the S&P 500 rose 15.16 points, or 0.25%, to 6,090.27. The Nasdaq Composite rose 159.05 points, or 0.81%, to close at 19,859.77.
For the week, the Nasdaq rose 3.3%, the S&P 500 rose about 1% and the Dow fell 0.6%.
Lululemon Athletica shares rose 15.9%, Ulta Beauty shares rose 9%, while UnitedHealth Group shares fell 5.1%. Meta Platform shares rose 2.4%.
US Nonfarm Payrolls
US nonfarm payrolls rose by 227,000 jobs last month after rising by an upwardly revised 36,000 in October. Economists polled by Reuters had forecast payrolls would gain 200,000 jobs in October after the previous report showed a gain of 12,000.
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US Unemployment Rate
The US unemployment rate rose to 4.2% in November from 4.1% the previous month, pointing to a softening labor market that should allow the Federal Reserve to cut interest rates again this month. The year-ago figure - both solid numbers and slightly more than forecasters had expected.
Federal Reserve
US Federal Reserve Governor Michelle Bowman said inflation risks to the economy are real and labor market data is difficult to interpret, suggesting caution with further rate cut decisions by the central bank, Reuters reported.
Japan GDP
Japan's economy expanded at a faster pace in July-September than initially reported. Japan's gross domestic product grew 1.2% year-on-year in the three months to September, beating economists' median forecast and an initial estimate of 0.9% growth, Reuters reported. The revised figures translate into a quarterly expansion of 0.3% in price-adjusted terms, compared with 0.2% growth announced on November 15.
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Syria Civil War
The Syrian government collapsed after opposition fighters entered Damascus without any sign of a military deployment. Two senior military officials told Reuters that President Bashar al-Assad fled the country on Sunday and boarded a plane to an unknown destination. Russian media reported that the ousted president had been granted asylum in Moscow on 'humanitarian grounds'.
China Inflation
China’s retail inflation rose 0.2% YoY in November, compared with a forecast of 0.5% growth and 0.3% MoM growth. China’s producer prices fell 2.5% YoY last month, compared with a forecast of a 2.8% decline.
Dollar
The US dollar index was flat at 106.010 after rising 0.2% last week. The euro was at $1.0557. Against the yen, the dollar was steady at 149.92, up from 148.65 to 151.23 last week.
(With inputs from Reuters)
Disclaimer: The above views and recommendations are those of individual analysts or brokerage firms, not Mint. We advise investors to check with certified experts before making any investment decisions.
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Here are the key global market signals for the Sensex today ???
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