Indian stock market: 10 key things that changed for market overnight - Gift Nifty, Trump tariffs threat to gold prices

Indian stock market: The equity market is expected to open lower on Tuesday, following weak global market cues ahead of US tariffs deadline on Indian goods.

Asian markets traded lower, while the US stock market slipped overnight, with the MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2%.

On Monday, the Indian stock market ended with decent gains, led by buying in select IT and financial heavyweights.

The Sensex gained 329.06 points, or 0.40%, to close at 81,635.91, while the Nifty 50 settled 97.65 points, or 0.39%, lower at 24,967.75.

“Investor sentiment was buoyed by easing global rate concerns, with comments from the US Federal Reserve hinting at a possible rate cut next month, boosting risk appetite across emerging markets. On the domestic front, steady institutional inflows and softening crude oil prices provided additional support,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Here are key global market cues for Sensex today:

Asian markets traded lower on Tuesday, tracking overnight losses on Wall Street, on US President Donald Trump’s tariff threat on China. Japan’s Nikkei 225 fell 1.16%, while the Topix index declined 1.05%. South Korea’s Kospi index lost 0.88%, while the Kosdaq gained 0.31%. Hong Kong’s Hang Seng index futures indicated a weaker opening.

Gift Nifty was trading around 24,925 level, a discount of nearly 64 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

US stock market ended lower on Monday ahead of AI chipmaker Nvidia’s quarterly earnings and key economic data this week.

The Dow Jones Industrial Average declined 0.77% to 45,282.47, while the S&P 500 dropped 0.43% to 6,439.32. The Nasdaq closed 0.22% lower at 21,449.29.

Nvidia share price gained 1.03%, Tesla stock price rallied 1.94%, while Intel shares fell 1%. RH and Wayfair shares declined more than 5% each.

Donald Trump fired Federal Reserve Governor Lisa Cook late Monday, over claims of mortgage borrowing impropriety. Trump said there was sufficient evidence that Cook had made false statements on mortgage applications.

Trump said that China has to give the United States magnets or “we have to charge them 200% tariff or something”. China is increasingly sensitive about rare earths and its control over supply, adding several rare earth items and magnets to its export restriction list in April in retaliation to tariff hikes by the United States.

US President Donald Trump threatened countries that have digital taxes with “subsequent additional tariffs” on their goods exported to the US, if those nations do not remove such legislation.

Sales of new US single-family homes fell in July. New home sales dropped 0.6% to a seasonally adjusted annualized rate of 652,000 units last month. The sales pace for June was upgraded to a rate of 656,000 units from the previously reported pace of 627,000 units. Economists polled by Reuters had forecast new home sales would rise to a rate of 630,000 units.

Crude oil prices fell after surging nearly 2% in the previous session. Brent crude futures declined 0.52% to $68.44 per barrel, while West Texas Intermediate (WTI) crude futures dropped 0.59% to $64.42.

The US dollar fell against the yen and euro after Trump fired Lisa Cook from her position on the Fed’s board of directors. The US dollar index fell 0.24% against its rival to 98.19. The dollar dropped 0.4% to 147.24 yen, while the euro was up 0.3% on the day at $1.165.

Gold prices rose to a two-week high as the dollar slipped. Spot gold price rose 0.5% to $3,384.34 per ounce, its highest level since August 11. US gold futures for December delivery gained 0.4% to $3,432.40.

(With inputs from Reuters)

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