Six things occurred overnight that affected the stock market: the Gift Nifty, the Wall Street surge, the China PMI, etc

 Six things occurred overnight that affected the stock market: the Gift Nifty, the Wall Street surge, the China PMI, etc

While US equities rose overnight in anticipation of the Federal Reserve's two-day monetary policy meeting, which starts today, Asian markets saw generally positive trading.

In response to positive global indications, the Nifty 50 and Sensex stock market indexes in India are anticipated to start flat on Tuesday.

Monday's half-percentage increase in the local market indexes was driven by increases in a few heavyweight stocks amid encouraging global indications.

The NSE Nifty 50 gained 93.65 points, or 0.49%, to 19,140.90, while the BSE Sensex finished 329.85 points, or 0.52%, higher at 64,112.65.

"In the immediate run, we anticipate market consolidation as investors wait for information about future interest rate decisions from key central banks, such as the US Federal Reserve, Bank of England, and Bank of Japan this week. With the current results season, stock-specific movement is anticipated to continue in the market, according to Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd.

These are today's major worldwide market cues for the Sensex:

Markets in Asia

Ahead of the Bank of Japan's crucial monetary policy meeting on Tuesday, Asian markets saw uneven trading.

Later in the day, the Bank of Japan will adjourn its two-day policy meeting and is anticipated to make decisions about further modifications to its bond yield control.

The Topix increased 0.22% while Japan's Nikkei 225 fell 0.34%. The Kosdaq dropped 0.06%, while South Korea's Kospi increased by 0.37%.

Futures for Hong Kong's Hang Seng index were down at 17,393, vs the closing level of 17,406.36 for the HSI.

S&P/ASX 200 Australia traded up 0.47%.

Against the previous closing of Nifty futures, which was 19,234, Gift Nifty was trading at around 19,232, suggesting a flat start for the Indian market indexes.

Wall Avenue

Monday's gains in US stock market indexes exceeded one percent, ahead of the Federal Reserve's two-day meeting to discuss monetary policy and employment statistics.

The S&P 500 rose 49.45 points, or 1.20%, to 4,166.82, while the Dow Jones Industrial Average increased 511.37 points, or 1.58%, to 32,928.96. At 12,789.48, the Nasdaq Composite closed 1.16%, or 146.47 points, higher.

It is anticipated that the Federal Open Markets Committee (FOMC), which will meet for two days to discuss monetary policy, would vote to maintain the Fed funds target rate between 5.25% and 5.50% on Tuesday.

In terms of equities, Onsemi's shares fell 21.8% due to a dismal Q4 sales projection, while McDonald's shares increased 1.7% after better-than-expected quarterly earnings.

The share price of Spirit Realty Capital surged 7.9%, while Realty Income fell 5.7% and Western Digital Corp surged 7.3%.

The Q3 earnings for Samsung Electronics drops 78%.

The largest memory chip and smartphone manufacturer in the world, Samsung Electronics, revealed a 78% YoY decline in quarterly earnings from 10.85 trillion won to 2.4 trillion won ($1.78 billion) in the July–September quarter. The earnings matched the 2.4 trillion won business projection that was released earlier this month.

Revenue for the business fell by 12% to 67.4 trillion won.

The memory chip industry's loss shrank from 4.36 trillion won in the second quarter to 3.75 trillion won in the third.

Apple releases new M3 CPUs, iMacs, and MacBook Pros.

Three new CPUs, along with new MacBook Pro and iMac machines, were unveiled by Apple. The M3, M3 Pro, and M3 Max CPUs, along with the new PCs, were revealed at the Apple Scary Fast Event 2023, an online event. 

The pricing of the MacBook Pro laptop in 14-inch and 16-inch sizes is $1,599 and $2,499, respectively. Starting at $1,299 is the new iMac desktop with the M3 family of CPUs.

On Monday, the price of an Apple share closed at $170.29, up 1.23%.

Japan's 10-year yield reaches a record high of a decade.

In response to rumors that the Bank of Japan may vote to increase a yield cap at its policy meeting, the yield on Japan's 10-year government bond (JGB) reached a new decade high on Tuesday, according to Reuters.

The yield on the 10-year JGB increased by 6.5 basis points to 0.955%, the highest level since May 2013 (it was previously at 0.950%).

At its policy meeting, the Bank of Japan is expected to raise its inflation predictions and talk about making further adjustments to its bond yield control.

A report suggesting that the Bank of Japan (BOJ) may further adjust a crucial instrument for managing bond yields when it makes its monetary announcement later in the day helped the yen stay close to a two-week high.

China's manufacturing output declines

According to a formal factory survey released on Tuesday, China's industrial activity unexpectedly decreased in October, as reported by Reuters.

In October, the official purchasing managers' index (PMI) dropped from 50.2 to 49.5, once again falling below the 50-point threshold that separates growth from contraction. The result fell short of a 50.2 prediction.