Here are some of the key factors influencing the Indian stock market today:
GIFT Nifty: GIFT Nifty, an early indicator of the Nifty 50 index, was trading around the 24,190 level, reflecting a discount of approximately 92 points from the previous Nifty futures close, which signals a potentially negative start for Indian stock market indices. Previously, GIFT Nifty traded around 24,821, showing a discount of nearly 17 points from the Nifty futures' previous close.
Global Market Trends: Asian markets displayed mixed performance, contrasting with overnight losses on Wall Street. The U.S. stock market experienced a downturn on Thursday, particularly in tech stocks. The Dow Jones Industrial Average decreased by 0.36%, the S&P 500 fell by 0.22%, and the Nasdaq Composite closed 0.16% lower.
US-India Trade Discussions: The Indian stock market's sentiment is being supported by hopes of progress in trade talks between the United States and India. The Nifty 50 had previously stretched its winning streak to seven sessions after the U.S. President expressed intentions to discuss trade issues with the Indian Prime Minister.
Crude Oil Prices: Brent crude is trading up by 0.42% at $67.27 per barrel.
Tesla Shares: Tesla shares experienced a significant drop of 6.1%. However, recently, Tesla shares jumped nearly 8% in early trading after Elon Musk purchased $1 billion worth of the company's stock.
Other important factors:
