Due to weakness in the global market, there was a period of decline in the stock markets from America to Japan. In such a situation, today i.e. on Wednesday, the domestic equity market benchmark indices Sensex and Nifty 50 are likely to open with a decline. Because, Asian markets fell amid heavy selling in chip stocks and energy sector stocks, while US stock markets closed with losses overnight.
There was a declining trend in the Indian stock market on Tuesday. The Sensex closed at 81,820.12, down 152.93 points or 0.19 per cent, while the Nifty 50 closed at 25,057.35, down 70.60 points or 0.28 per cent.
Global signals are not good
Asian Market: According to Live Mint, there was a declining trend in Asian markets due to the decline in global markets. Japan’s Nikkei 225 fell 1.85 percent, while Topix fell 1.13 percent. South Korea’s Kospi fell 1.22 percent and Kosdaq fell 0.93 percent. Hong Kong’s Hang Seng index futures indicated a lower start.
Gift Nifty Today: GIFT Nifty was trading around 25,045 levels, a decline of almost 80 points from the previous close of Nifty futures, indicating a negative start for the Indian stock market indices.
Condition of Wall Street: US stock market indices closed with a decline on Tuesday. The Nasdaq fell 1 percent, as chip stocks fell, while the energy sector fell 3 percent. The Dow Jones Industrial Average lost 324.80 points, or 0.75 percent, to 42,740.42, while the S&P 500 fell 44.59 points, or 0.76 percent, to 5,815.26. The Nasdaq Composite closed 187.10 points, or 1.01 percent, lower at 18,315.59.
Crude Oil: Crude oil prices rose after falling by more than 4 percent on Tuesday. Brent crude oil rose 0.35 percent to $74.51 a barrel, while WTI crude futures rose 0.41 percent to $70.87.
Gold Price: Gold prices remained steady ahead of key US economic data. Spot gold was flat at $2,660.36 an ounce, while US gold futures fell 0.1 per cent to $2,676.50.
