Indian stock market: 10 things that changed for market overnight- Gift Nifty, Donald Trump speech, S&P record close

Indian stock market: The domestic equity market benchmark indices, Sensex and Nifty 50, are expected to open higher on Friday, following positive trends in global markets.

Asian markets gained, while the US stock market ended higher overnight, with the S&P 500 hitting a record closing high.

Markets reacted to the US President Donald Trump’s speech at the World Economic Forum in Davos, Switzerland, demanding lower interest rates, cheaper crude oil prices and higher tariffs for products made outside the US.

On Thursday, the Indian stock market ended higher, extending gains for the second consecutive session.

The Sensex rose 115.39 points, or 0.15%, to close at 76,520.38, while the Nifty 50 settled 50.00 points, or 0.22%, higher at 23,205.35.

“With the ongoing corporate earnings outcome not so encouraging so far, and Budget round the corner, investors will play safe bets with a selective buying approach and mostly at global markets for cues,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Friday, tracking overnight Wall Street rally after US President Donald Trump called for lower interest rates and cheaper oil prices.

Japan’s Nikkei 225 rose 0.55%, while the Topix advanced 0.53%. South Korea’s Kospi gained 0.62% higher, while the Kosdaq rose 0.07%. Hong Kong’s Hang Seng index futures indicated a slightly higher open.

Gift Nifty Today

Gift Nifty was trading around 23,301 level, a premium of nearly 37 points from the Nifty futures’ previous close, indicating a positive start for the Indian stock market indices.

Wall Street

US stock market ended higher on Thursday, with the benchmark S&P 500 rising to a record closing high, after comments from President Donald Trump, including a call for cuts in interest rates and oil prices.

The Dow Jones Industrial Average rallied 408.34 points, or 0.92%, to 44,565.07, while the S&P 500 gained 32.34 points, or 0.53%, to 6,118.71. The Nasdaq Composite closed 44.34 points, or 0.22%, higher at 20,053.68.

Constellation Energy shares surged 4.1% and AES Corp stock rose 3.6% while Vistra Corp share price gained 2.7%. GE Aerospace stock rallied 6.6% and Elevance shares rose 2.7%. Electronic Arts stock price tanked 16.7% and American Airlines shares dropped 8.7%.

Donald Trump at Davos

US President Donald Trump demanded OPEC lower oil prices and the world drop interest rates in a speech to global business and political leaders and warned them they will face tariffs if they make their products anywhere but the US, Reuters reported.

US Jobless Claims

The number of Americans filing new applications for unemployment benefits rose marginally last week. Initial claims for state unemployment benefits increased 6,000 to a seasonally adjusted 223,000 for the week ended January 18, the Labor Department said. Economists polled by Reuters had forecast 220,000 claims for the latest week.

Puma Share Price Sinks

Puma lost more than a fifth of its market value on Thursday after the German sportswear brand reported weak Q4 results with lower than expected sales and a drop in annual profit. Puma share price cracked 22.8% to 32.3 euros, its worst day ever and hitting their lowest level since February 2018.

Japan Inflation, PMI

Japan’s core inflation rate hit 3% for the first time in 16 months. Consumer prices excluding fresh food rose 3% from a year earlier in December, accelerating from 2.7% in the previous month

Japan’s factory activity slumped to the lowest level in 10 months. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) sank to 48.8 in January from 49.6 in December.

US Dollar Rate

The dollar was modestly lower after comments from US President Donald Trump called for lower interest rates. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, shed 0.19% to 108.06.

Gold Price Today

Gold prices traded higher and were on track for a fourth straight weekly gain on Friday. Spot gold rose 0.2% to $2,760.40 per ounce, while the US gold futures added 0.1% to $2,767.60.

Oil Prices

Crude oil prices traded lower after Donald Trump said he will ask Saudi Arabia and OPEC to lower prices. Brent crude oil fell 0.90% to $78.29 a barrel, while the US West Texas Intermediate (WTI) crude futures dropped 0.47% to $74.27.

(With inputs from Reuters)

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