Indian stock market: 10 key things that changed for market overnight before Economic Survey – Gift Nifty to US GDP | Stock Market News

Indian stock market: The domestic equity market indices, Sensex and Nifty 50, are expected to open higher on Friday ahead of the Economic Survey 2025, amid gains in global markets.

Asian markets traded mixed, while the US stock market ended higher overnight amid GDP data and corporate earnings reports.

Investors will keep an eye on the Economic Survey 2024-2025 to be tabled in the Parliament today ahead of the Union Budget 2025 on February 1.

On Thursday, the Indian stock market ended higher, extending its winning streak for the third consecutive trading session, supported by heavyweight stocks.

The Sensex rallied 226.85 points, or 0.30%, to close at 76,759.81, while the Nifty 50 settled 86.40 points, or 0.37%, higher at 23,249.50.

“The upcoming budget may be seen as an inflection point, which is likely to reverse the current bearish trend if the policies restore growth and consumption. As the long-term story is intact, investors are focusing on stocks and sectors where operational metrics and valuations are favourable,” said Vinod Nair, Head of Research, Geojit Financial Services.

Here are key global market cues for Sensex today:

Asian Markets

Asia markets traded mixed on Friday following overnight gains on Wall Street. Japan’s Nikkei 225 rose 0.16%, while the Topix index gained 0.11%. South Korea’s Kospi declined 0.97% while the Kosdaq fell 0.46%. Hong Kong and Chinese markets are closed for the Lunar New Year holiday.

On the economic data front, Japan’s retail sales for December 2024 rose 3.7% YoY to hit a six-month high. Tokyo consumer price index for January increased 3.4% YoY, from 3% the month before.

Gift Nifty Today

Gift Nifty was trading around 23,441 level, a premium of nearly 23 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 as investors digested a stack of key earnings reports.

The Dow Jones Industrial Average gained 168.61 points, or 0.38%, to 44,882.13, while the S&P 500 rose 31.86 points, or 0.53%, to 6,071.17. The Nasdaq Composite closed 49.43 points, or 0.25%, higher at 19,681.75.

Tesla shares rose 2.9%, Microsoft shares plunged 6.2%, Meta share price gained 1.6%, while IBM stock price jumped 13%. United Parcel Service stock declined 14.1%. Apple share price rose 3.14% in post-market trade.

US GDP Growth

US economic growth slowed in the fourth quarter. US GDP increased at a 2.3% annualized rate last quarter after accelerating at a 3.1% pace in the July-September quarter, advance GDP estimate showed. Economists polled by Reuters had forecast GDP rising at a 2.6% pace. Estimates ranged from a 1.7% pace to a 3.2% rate.

US Jobless Claims

The number of Americans filing new applications for unemployment benefits fell more than expected last week. Initial claims for state unemployment benefits dropped 16,000 to a seasonally adjusted 207,000 for the week ended January 25, the Labor Department said. Economists polled by Reuters had forecast 220,000 claims for the latest week.

ECB Rate Cut

The European Central Bank cut interest rates and kept the door open to further policy easing. The officials reduced the deposit rate by 25 basis points (bps) to 2.75%. It was the fifth ECB rate cut since June and markets expect two or three more this year.

Apple Q1 Results

Apple reported a 4% rise in its overall revenue for the fiscal first quarter, but it missed Wall Street’s iPhone sales expectations, while its China sales declined 11.1%. Apple shares rallied about 3% in extended trading after the company forecast relatively strong sales growth for the March quarter.

Apple reported total sales of $124.30 billion for the fiscal first quarter ended December 28, while earnings per share of $2.40 comfortably beat the consensus target of $2.35. iPhone sales dropped slightly to $69.14 billion.

Samsung Q4 Results

Samsung Electronics’ operating profits in the fourth quarter of 2024 surged 129.85% to 6.5 trillion won ($4.5 billion) from 2.82 trillion won a year earlier. The profit was down 29% from the previous quarter. Sales for the October to December quarter rose 11.8% to 75.78 trillion won, while net income of 7.75 trillion won was up 22.2% from a year earlier. Samsung said it expected limited first-quarter earnings growth due to weak memory chip business conditions, as it continues to work towards providing high-end chips to Nvidia. Samsung share price was down 2.2%.

Dollar

The US dollar edged higher on Thursday. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.2% to 108.12. The greenback weakened 0.54% to 154.36 against the Japanese yen. The euro reversed earlier gains and was down 0.24% at $1.0395.

Gold Price Today

Gold prices rose to a record high. Bullion rose as much as 0.2% to $2,799.65 an ounce after prices jumped 1.3% on Thursday.

(With inputs from Reuters)

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