Indian Stock Market: 10 Major Developments Over the Weekend – Gift Nifty, US Inflation, and India’s GDP

Key Changes in the Indian Stock Market Over the Weekend

1. Gift Nifty Performance: Gift Nifty was trading around the 25,420 mark, showing a premium of nearly 22 points above the Nifty futures’ previous close. This suggests a moderately positive start for Indian stock market indices.
2. Domestic Market Outlook: The Indian equity market, including the Sensex and Nifty 50, is anticipated to open flat on Monday due to mixed trends in global markets.
3. Global Market Trends: Asian markets showed varied performance, with MSCI’s broadest index of Asia-Pacific shares outside Japan falling by 0.1%. Japan’s Nikkei 225 rose by 0.94%, while South Korea’s Kospi and Kosdaq experienced declines. The Hong Kong Hang Seng index suggested a lower opening.
4. US Market Summary: The US stock market ended last week on a high note, with the Dow Jones reaching a second consecutive all-time closing high. The Dow Jones Industrial Average increased by 0.55% to 41,563.08, the S&P 500 rose by 1.01% to 5,648.40, and the Nasdaq Composite Index gained 1.13% to 17,713.62. Notable stock movements included Nvidia rising by 1.5%, Amazon.com and Tesla up over 3%, and Marvell Technology advancing by 9%. The US market will be closed on Monday for Labor Day.
5. US Inflation Data: The US personal consumption expenditures (PCE) price index rose by 0.2% in July, consistent with expectations. Over the past 12 months, the PCE price index increased by 2.5%, matching June’s rate.
6. Consumer Spending: US consumer spending saw a solid increase of 0.5% in July, following a 0.3% rise in June, in line with economists’ forecasts.
7. India’s GDP Growth: The Indian economy grew at 6.7% in the April-June quarter, marking the slowest growth in five quarters compared to a 7.8% expansion in the previous quarter.
8. Fiscal Deficit: For the April-July period of FY25, India’s fiscal deficit was ₹2,76,945 crore, or 17.2% of the full-year target, compared to 33.9% of the Budget Estimates in the same period last year.
9. GST Collections: India’s GST collections for August rose by 10% to ₹1.75 lakh crore from ₹1.59 lakh crore the previous year, though it slightly declined from ₹1.82 lakh crore in July.
10. F&O Criteria Updates: SEBI has updated the eligibility criteria for stocks in the Futures and Options (F&O) segment. Based on these new criteria, 23 stocks are now potential candidates for exclusion from the F&O segment.
11. Japan’s PMI: Japan’s factory activity contracted at a slower rate in August, with the final au Jibun Bank Japan manufacturing purchasing managers’ index (PMI) rising to 49.8, up from 49.1 in July and slightly better than the flash reading of 49.5.