Market
Updated : June 02, 2021 08:17 AM IST
The Indian market is likely to open flat on Wednesday amid mixed global cues. At 7:59 am, the SGX Nifty was trading 6 points or 0.04 percent lower at 15,617, indicating a subdued start for the broader index in India.
CNBCTV18.com
1. Wall Street: Major indexes struggled to a mixed finish on Wall Street after giving up an early gain on Tuesday. The S&P 500 slipped less than 0.1 percent as losses for technology and health care companies offset gains in other sectors. Elsewhere, the Nasdaq fell 0.1 percent and the Dow Jones Industrial Average edged higher to rise 0.1 percent.
2. Asian shares: Shares in Asia-Pacific were mixed in Wednesday morning trade, with official data showing higher-than-expected growth in Australia’s economy for the first quarter. The Nikkei 225 in Japan gained 0.22 percent. In South Korea, the Kospi rose 0.25 percent. Hong Kong’s Hang Seng index shed 0.36 percent. Mainland Chinese stocks also declined as the Shanghai composite fell slightly and the Shenzhen component dipped 0.217 percent. Meanwhile, Australian stocks advanced, with the S&P/ASX 200 up 0.7 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded fractionally higher.
3. D-Street: Indian indices ended on a flat note after a volatile session on Tuesday as gains in heavyweights Bajaj Finance, HDFC and SBI were capped by losses in metals and financial sectors. Meanwhile, India's manufacturing PMI coming in at an 8-month low also weighed on the sentiment. The Sensex ended 2 points lower at 51,935 and the Nifty fell 8 points to settle at 15,575.
4. Oil: Oil prices settled higher on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the US as OPEC+ agreed to boost output. Brent crude futures for August settled up 1.3 percent to $70.25 a barrel after hitting $71 earlier in the session - its highest intra-day price since March 8. US WTI crude for July was up $1.40, or 2.1 percent, to $67.72.
5. Rupee: Extending losses for the second straight session, the rupee on Tuesday fell by another 28 paise to end at 72.90 against the US currency due to dollar buying by banks and higher crude oil prices. The rupee opened on a marginally positive note at 72.57 per dollar as against its previous close of 72.62 at the interbank foreign exchange market.
6. Gold: Gold rose by Rs 285 to Rs 48,892 per 10 gram in the national capital on Tuesday following a rally in global precious metal prices. Silver also jumped Rs 952 to Rs 71,850 per kilogram from Rs 70,898 per kilogram in the previous trade. In the global market, gold was trading higher at USD 1,912 per ounce and silver was flat at USD 28.32 per ounce.
7. Bitcoin: Bitcoin, the world’s largest cryptocurrency, was trading in the red at the time of writing this piece. Its price slid 5.3 percent from $37,833 at 6:30 am Tuesday to as low as $35,816 at 10:45 pm Tuesday. Ethereum lost nearly 3 percent in the last 24 hours, trading between the range of $2,532-$2,734.
9. GDP: Moody’s Investors Service on Tuesday pegged India’s GDP growth at 9.3 percent in the current fiscal ending March 2022 and 7.9 percent in FY23. The reimposition of lockdown measures along with behavioural changes on fear of contagion will curb economic activity, it said, adding that it does not expect the impact to be as severe as during the first wave. Read more
Published : June 02, 2021 08:17 AM IST
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