Indian stock market: 6 important things that changed the market overnight – Gift Nifty, Apple’s profit on US unemployment claims

Indian Stock Market: Domestic stock markets are expected to open higher on Friday following gains in global peers.

Asian markets rose, while US stock markets closed lower overnight amid mixed corporate earnings releases and economic indicators.

Investors will focus on key U.S. nonfarm payrolls numbers, which could provide further clues about the Federal Reserve’s policy direction.

Indian stock market indexes ended with modest gains on Thursday amid mixed global indicators following the US Federal Reserve’s monetary policy results.

The Sensex rose 128.33 points (0.17%) to close at 74,611.11 and the Nifty 50 rose 43.35 points (0.19%) to close at 22,648.20.

“Indian markets ended marginally higher in subdued trading as weak global indicators and the prospect of further postponement of interest rate cuts due to inflation concerns prompted investors to make selective bets. It has risen sharply in the session and rising valuations are starting to worry investors,” said Prashanth Tapse, senior vice president (research) at Mehta Equities.

Also read: Buy or sell: Vaishali Parekh recommends 3 stocks to buy today – May 3

Here are today’s key global market cues for Sensex.

asian market

Asian markets rose on Friday, following gains on Wall Street overnight ahead of key US jobs data.

Stock markets in Japan and mainland China were closed for the holiday.

South Korea’s Kospi rose 0.60% and Kosdaq rose 0.77%. Hong Kong’s Hang Seng Index futures rose.

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Gift Nifty is trading around 22,900 levels, a premium of nearly 125 points from the previous closing price of Nifty futures, indicating a strong start for the Indian stock market index.

wall street

U.S. stock markets closed higher on Thursday following more dovish interest rate guidance from the U.S. Federal Reserve.

The Dow Jones Industrial Average rose 322.37 points, or 0.85%, to 38,225.66, and the S&P 500 rose 45.81 points, or 0.91%, to 5,064.2. The NASDAQ Composite Index rose 235.48 points (1.51%) to end at 15,840.96.

Among stocks, Apple stock rose 6% in extended trading, Qualcomm stock rose 9.8% on higher profits, and Carvana stock rose 33.8%. DoorDash stock fell 10.3%, Etsy stock fell 15.0% and Peloton stock fell 2.5%.

Also read: Freshworks shares fell 25% after Girish Mathrubootham stepped down as CEO.Earnings forecast revised downwards

apple revenue

Apple shares rose 7% in extended trading after the iPhone maker’s quarterly results and outlook beat conservative expectations and the company announced its largest stock buyback program in history, worth $110 billion. It added more than $160 billion to its market value.

Apple said its fiscal second quarter revenue fell 4% to $90.8 billion, beating analysts’ average estimate of $90.01 billion, according to LSEG data. For Apple’s current quarter, Chief Executive Officer Tim Cook told Reuters the iPhone maker expects “low single-digit growth” in overall sales. Wall Street had expected sales to rise 1.33% to $82.89 billion. Apple’s profits for the past quarter totaled $23.64 billion, or $1.53 per year. The share decreased by 2% from last year.

Apple increased its cash dividend by 4% and approved an additional $110 billion share buyback program. This will be the largest share buyback in the company’s history.

U.S. unemployment insurance claims

The number of Americans filing new claims for unemployment benefits held steady at a low level last week. Initial claims for state unemployment benefits for the week ending April 27 were unchanged at a seasonally adjusted 208,000, the Labor Department said. Economists polled by Reuters had predicted 212,000 insurance claims in the past week.

oil price

Oil prices rose on expectations that OPEC will continue to cut production. Brent crude oil futures for July rose 0.35% to $83.96 per barrel, while U.S. West Texas Intermediate crude oil futures for June rose 0.39% to $79.26 per barrel. Ta.

(Information provided by Reuters)

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