Indian Stock Market: 6 Key Overnight Changes - Nifty, US Activity, Oil Price

Indian markets bounced back on Wednesday with the Sensex rising 0.98% to 71,060.31, and Nifty 50 up by 1.01% at 21,453.95. However, muted sentiment persists due to concerns over FIIs selling amid premium valuations and below-expectation Q3 earnings.

SENSEX/ Nifty 50

Asian markets dipped with Japan's Nikkei down 0.14%, South Korea's Kospi falling 0.42%, and Hong Kong's Hang Seng futures suggesting a higher opening, all reacting to mixed signals from Wall Street.

1. Asian Market

2. Gift Nifty 

Gift Nifty was trading around 21,435 level, as compared with Nifty futures’ previous close of 21,488, indicating a weak start for the Indian stock market indices.

US stocks mixed: S&P 500 hits record, Nasdaq at 2022 high. Netflix up 10.7%, Microsoft hits $3 trillion. Alphabet, Meta rise 1%, Nvidia, Broadcom set records. AT&T down 3%, DuPont De Nemours falls 14% 

3. Wall Street

Microsoft hits $3 trillion market value, the second-highest globally, peaking at $405.63 before closing at $402.56. 

4. Microsoft hits $3 trillion market value 

US business activity rose in January, easing inflation. Prices charged by companies hit a 3.5-year low. S&P Global's PMI Output Index reached 52.3, the highest since June.

5. US business activity picks up

Crude oil prices climbed on a larger-than-expected US storage withdrawal, lower US crude output, and Chinese economic stimulus. Brent crude settled at $80.04 per barrel, up 0.6%, while US WTI ended 1.0% higher at $75.09.

6. Oil prices near one-month high