10 key things that changed for market overnight - Gift Nifty, US govt shutdown to Trump tariffs

By Admin

30 Sep, 2025

The Indian stock market is set for a cautious opening on Tuesday as investors digest global developments ranging from U.S. tariffs and a looming government shutdown to mixed Asian market cues. Benchmark indices Sensex and Nifty 50 are expected to start flat, with Gift Nifty trading around 24,692, a modest premium of nearly 7 points over the previous close.

On Monday, Indian equities ended lower for the seventh consecutive session. The Sensex closed 61.52 points down at 80,364.94, while the Nifty 50 slipped 19.80 points to 24,634.90. Analysts suggest investors focus on selective sectoral opportunities and keep positions under check amid foreign fund outflows and caution ahead of the MPC meeting.

Here are the 10 key overnight cues for the market today:

1. Asian Markets Mixed

Asian equities traded with little clarity. Japan’s Nikkei 225 fell 0.32%, the Topix declined 0.21%, while South Korea’s Kospi gained 0.27% and the Kosdaq added 0.18%. Hong Kong’s Hang Seng futures pointed to a stronger opening.

2. Gift Nifty Signals Flat Start

Gift Nifty hovered at 24,692, a 7-point premium to the previous close, suggesting a subdued opening for Indian benchmarks.

3. Wall Street Ends Higher

U.S. stocks rose overnight, led by tech shares. The Dow Jones gained 68.78 points (0.15%), the S&P 500 added 17.51 points (0.26%), and the Nasdaq advanced 107.09 points (0.48%).

4. Tech Stocks Drive Rally

Big names fueled Wall Street gains. Nvidia rose 2.07%, Amazon gained 1.09%, while Tesla climbed 0.64%. Gaming and cannabis stocks also saw major moves, with Electronic Arts up 4.5%, Tilray Brands soaring 60.9%, and Canopy Growth jumping 17%.

5. Trump’s Tariff Announcement

President Donald Trump unveiled new tariffs: 10% on lumber and 25% on kitchen cabinets, vanities, and upholstered wooden products, effective October 14. By January 1, tariffs could escalate to 30–50% for imports from countries that fail to strike a deal with the U.S.

6. U.S. Govt Shutdown Concerns

Vice President JD Vance warned that a U.S. government shutdown is likely, with limited progress seen at White House negotiations between Trump and Democrats.

7. Federal Reserve Outlook

Fed officials remain cautious. St. Louis Fed President Alberto Musalem signaled openness to more rate cuts but stressed keeping rates high enough to fight inflation. NY Fed President John Williams supported the last cut citing labor market weakness.

8. China PMI Weakness

China’s manufacturing sector contracted for the sixth straight month. The official PMI rose to 49.8 in September, slightly above expectations but below the 50 growth mark.

9. Bank of Japan Discussions

Minutes from the BoJ’s September meeting showed members debating the timing of potential rate hikes, with some suggesting the move may come sooner than expected.

10. Crude Oil and Dollar Movement

Crude slipped on expectations of higher OPEC output and resumed Iraqi exports. Brent crude fell 0.66% to $67.52/barrel, while WTI dropped 0.60% to $63.07/barrel. Meanwhile, the U.S. dollar weakened, with the dollar index at 97.948, euro flat at $1.17275, and yen at 148.72 per dollar.

Outlook for Indian Markets
With foreign outflows, rate policy uncertainty, and weak global cues, the near-term outlook remains cautious. Analysts suggest staying stock-specific and aligning with strong sectoral trends while managing risk carefully.

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. Investors should consult certified experts before making investment decisions.