Asian indices were mixed in early trade on Friday. Japan’s Nikkei was 0.11% higher after the country’s headline inflation was unchanged in July. South Korea’s Kospi and S&P ASX 200 were trading 0.4% lower each as of 6:30 a.m.
Investors now await the Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole summit.
In the US, stocks declined and bond yields increased as traders anticipated Jerome Powell’s speech on Friday. There are expectations that he may suggest a potential rate cut, though likely at a slow and steady pace, reported Bloomberg.
The S&P 500 Index closed 0.89% lower, Nasdaq Composite fell by 1.67%, and Dow Jones Industrial Average ended 0.4% lower.
Brent crude was trading 0.13% higher at $77.32 a barrel as of 6:34 a.m. Gold was up by 0.2% at $2,489.45 an ounce.
The GIFT Nifty traded flat at 24,824.00 as of 6:34 am.
The benchmark equity indices pared some of their morning gains but still managed to close higher on Thursday, with the NSE Nifty 50 recording its best streak since the six sessions that ended on May 23.
The Nifty closed 41.30 points or 0.17%, higher at 24,811.50, while the S&P BSE Sensex ended 0.18% or 147.89 points up at 81,053.19. Both indices recorded their highest closing since Aug. 1.
Overseas investors turned net buyers of Indian equities on Thursday after three straight sessions of selling. Foreign portfolio investors bought stocks worth Rs 1,371.8 crore, domestic institutional investors stayed net buyers for the 14th session and bought equities worth Rs 2,971.8 crore, the NSE data showed.
Rupee weakened by 2 paise to close at 83.95 against the US dollar.
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Publish date : 2024-08-22 14:52:00
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