Indian stock market: 7 key things that changed for market overnight - Gift Nifty, Samsung Q2 results to oil prices

Indian stock market: The domestic equity market is expected to open flat with a negative bias on Friday tracking mixed cues from global markets.

Asian markets traded mostly higher, while the US stock market was closed overnight for a holiday. US stock futures were trading flat.

Investors now await the US nonfarm payrolls data to be released later today to gauge the trajectory of the US Federal Reserve’s potential interest rate cuts.

On Thursday, the Indian stock market indices ended with minor gains at record closing highs with the Sensex settling above the 80,000-mark for the first time.

The Sensex rose 62.87 points, or 0.08%, to close at 80,049.67, while the Nifty 50 settled 15.65 points, or 0.06%, higher at 24,302.15.

“Release of pre-quarterly business updates is giving confidence in healthy Q1 earnings. Sentiments got a further boost in the hope of a rate cut as the recent data points indicate the softening of the US economy. We expect this ongoing momentum to continue and Nifty to consolidate in a broader range,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Here are key global market cues for Sensex today:

Asian Markets

Asian markets traded higher on Friday, with Japan’s key benchmark indices hitting new highs.

Japan’s Nikkei 225 gained 0.46%, while the Topix rose 0.06% to a fresh record high. South Korea’s Kospi added 0.45% and the Kosdaq gained 0.25%. Hong Kong Hang Seng index futures indicated a lower opening.

Gift Nifty Today

Gift Nifty was trading around 24,360 level, a discount of nearly 17 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market indices.

Wall Street

US stock markets were closed on Thursday for the Independence Day holiday. US stock futures traded flat. Nasdaq 100 futures fell 0.1%, while S&P 500 futures were flat-to-lower. Dow Jones Industrial Average futures traded 0.05% higher.

Samsung Q2 Results

Samsung Electronics estimated a more than 15-fold rise in its second-quarter operating profit, led by a jump in semiconductor prices amid artificial intelligence boom. Samsung reported preliminary operating profit of 10.4 trillion won ($7.5 billion) for the June quarter from 670 billion won a year earlier. Sales were at 74 trillion won. Samsung will announce final earnings with divisional breakdowns later this month. Samsung share price gained 1.7% during early morning trade in Seoul.

Japan Household Spending

Japanese household spending unexpectedly fell in May, data showed. Consumer spending contracted 1.8% in May from a year earlier. Economists polled by Reuters had estimated a 0.1% rise.

Oil Prices

Crude oil prices traded near a two-month high, with both benchmarks heading for a fourth weekly advance.

Brent crude oil rose 0.07% to $87.49 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 0.16% to $84.01.

Gold Rate Today

Gold prices traded higher on Friday and were on track for a weekly gain ahead of the US employment data.

Spot gold rose 0.1% at $2,358 and was up more than 1% for the week. US gold futures were trading 0.1% lower at $2,366.30.

(With inputs from Reuters)

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