What changed for the Indian Stock Markets: 6 primary aspects to look at.

Key Changes in Indian Stock Markets: 6 Primary Aspects to Watch

Written by: Supriya Kadu

Edited by: Pinky Deshmukh

Last Updated: December 24, 2024

Summary: Indian Stock Markets were trading flat. The Nifty was trading at 23,760, 9 points lower from the previous close.

Amid positive global market signals, the domestic equity indices, the Sensex and Nifty 50, opened flat on Tuesday.

The US stock market closed the night higher, with the Dow Jones Industrial Average and the Nasdaq Composite recording three consecutive sessions of gains, while Asian markets saw an increase.

The Indian stock market saw a bounce in short-covering on Monday, as both benchmark indices increased by more than half a percent.

The Nifty 50 closed 165.95 points, or 0.7%, higher at 23,753.45, while the Sensex increased 498.58 points, or 0.64%, to close at 78,540.17.

6 Primary Key Points:

Asian Markets

After Wall Street saw overnight gains powered by tech companies, Asian markets saw a rise in trading.

The Kosdaq rose 0.72%, South Korea's Kospi gained 0.31%, and Japan's Nikkei 225 and Topix were unchanged. Futures for Hong Kong's Hang Seng index pointed to a stronger opening.

Gift Nifty

The Indian stock market indices had a flat start as the Gift Nifty was trading at about 23,760, a discount of almost 9 points from the previous finish of the Nifty futures.

Wall Street

Due to increased megacap stocks, the US stock market concluded Monday's trading session higher.

The S&P 500 increased 43.22 points, or 0.73%, to 5,974.07, while the Dow Jones Industrial Average increased 66.69 points, or 0.16%, to 42,906.95. At 19,764.89., the Nasdaq Composite ended the day 192.29 points (0.98%) higher.

Shares of Tesla, Nvidia, and Meta Platforms all closed 2.3% to 3.7% higher. Walmart's stock dropped 2%, while Qualcomm's stock increased 3.5%.

Nordstrom shares decreased 1.5%, ResMed and Inspire Medical fell 2.6% and 0.1%, and Eli Lilly's stock price increased 3.7%.

US Dollar

As US interest rates were expected to rise for extended periods, the US dollar remained strong. The US dollar last traded at 108.10 against a basket of currencies, close to a two-year high of 108.54.

According to Reuters, after dropping 4.7% this month, the yen rested close to a five-month low and last traded at 157.19 per dollar. In contrast, the pound fell 0.01% to $1.2534, and the euro was at $1.0403.

Bank of Japan Meeting

According to meeting minutes, Bank of Japan policymakers decided in October to continue raising interest rates if the economy progresses in the direction they had predicted, but several emphasized the need for prudence because of the uncertain future, according to Reuters.

Gold Price (today)

As investors prepared for a less aggressive interest rate-lowering route from the Federal Reserve next year, gold prices remained stable. US gold futures were steady at $2,628.90, while spot gold remained level at $2,614.87 an ounce.