- Indian markets are set to open on a flat note today, following mixed trade in global peers amid lack of fresh triggers. The US dollar and treasury yields have had a negative impact on equities. However, Gift Nifty is trading 64 points higher, indicating a positive start for benchmark Nifty.
- The Dow Jones Industrial Average ended higher on Wednesday, marking its sixth straight session of gains and closing above 39,000 points for the first time in five weeks. Investors continue to bet on supportive U.S. monetary policy. Meanwhile, other Wall Street benchmarks cooled as momentum stalled and U.S. Treasury yields rose on the day of a 10-year notes auction.
- Asian shares were subdued as investors awaited China trade data to gauge the health of the Chinese economy. The yen steadied after three days of declines as Japan talked up a potential currency intervention. Later today, the Bank of England (BoE) will decide its interest rate policy, with all eyes on the prospects of a June rate cut.
Get the latest updates on the Indian stock market and global equities. Find out how the Dow Jones, Asian shares, and Gift Nifty are performing, and what’s expected from the Bank of England’s interest rate policy decision.
Dow Jones Ends Higher, Asian Shares Subdued
The Dow Jones Industrial Average rose 172.13 points, or 0.44%, to 39,056.39, marking its sixth straight session of gains. This is the first time in five weeks that it has closed above 39,000 points. Investors continue to bet on supportive U.S. monetary policy. However, other Wall Street benchmarks cooled as momentum stalled and U.S. Treasury yields rose on the day of a 10-year notes auction. The S&P 500 ended unchanged after four sessions of gains, and the Nasdaq Composite slipped to a second consecutive decline.
Asian Shares Await China Trade Data
Asian shares were subdued as investors awaited China trade data to gauge the health of the Chinese economy. The yen steadied after three days of declines as Japan talked up a potential currency intervention. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1%, hovering not far from a 15-month high hit earlier in the week after Fed Chair Jerome Powell reiterated a stance for policy easing later this year. Chinese bluechips rose 0.6% and Hong Kong’s Hang Seng index gained 0.7%. Japan’s Nikkei rose 0.3%. Nasdaq stock futures eased 0.1%.
Indian Markets Set to Open Flat
On Wednesday, the Indian stock market benchmark indices ended a choppy session on a flat note amid cautious market sentiment. The Sensex fell 45.46 points, or 0.06%, to close at 73,466.39, while the Nifty 50 settled flat at 22,302.50. However, Gift Nifty was trading 64 points higher, indicating a positive start for benchmark Nifty today.
Conclusion
With mixed trade in global peers and the US dollar and treasury yields weighing on equities, Indian markets are expected to open flat today. However, the positive trading of Gift Nifty suggests a positive start for benchmark Nifty. Investors will be closely watching the China trade data and the Bank of England’s interest rate policy decision.
