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Market Wrap: Nifty hits record closing high, Sensex closes in on peak as IT stock gains extend D-Street rally
Benchmark equity index Nifty50 hit a record peak of 25,129.6 on Wednesday, slightly closing higher than the previous day, driven by gains in IT stocks. Sensex closed at 81,785, gaining 74 points. LTIMindtree, Wipro, Divi's Labs, Bharti Airtel, and Infosys were top gainers, while Maruti Suzuki and Asian Paints lagged.
Rupee falls 8 paise to 83.95 against US dollar in early trade
The rupee fell by 8 paise to 83.95 against the US dollar due to elevated crude oil prices and a weak domestic equity market. Brent Crude remained above USD 80 per barrel amid geopolitical tensions. The Reserve Bank's active market interventions have bolstered India's forex reserves by nearly USD 5 billion, providing some stability.
Oil prices pause after surging on Libyan outages, Middle East tensions
Oil prices saw a minor decline in Asian trading after rising over 7% due to supply concerns linked to Middle East tensions and Libyan oil field closures. Brent crude and WTI futures both fell. The market had reacted to potential disruptions from Israel-Hezbollah clashes and Libya halting oil production amid political disputes.
Asia shares edge up before inflation tests, oil gains
Asian shares edged higher with investors looking forward to inflation data that could prompt rate cuts in the US and Europe. Oil prices rose amid Middle East tensions. Nvidia's upcoming earnings report is eagerly awaited. Federal Reserve Chair Powell hinted at potential rate cuts to mitigate employment risks.
Trading in Asian markets is mixed and muted ahead of a key Fed chair speech
Asian markets experienced mixed trading as investors looked forward to guidance from Federal Reserve Chair Jerome Powell on possible rate cuts. Japan's Nikkei 225 rose slightly, while stocks in Australia and South Korea saw minor losses. U.S. markets also faced declines amid mixed economic signals, with Powell's upcoming speech in focus.
Oil set to end week lower on demand concerns, easing supply woes
Oil prices remained steady in early Asian trading on Friday but are expected to end the week lower. Revised U.S. employment data and ceasefire talks in Gaza have raised demand and supply concerns. Both Brent and WTI crude futures experienced fluctuations, influenced by the economic outlook and geopolitical developments.
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Sensex jumps 200 points, Nifty above 24,800 as US Fed minutes boost rate cut hopes
Sensex and Nifty opened on a positive note Thursday, bolstered by Federal Reserve meeting minutes suggesting a likely rate cut. Companies such as Infosys and Tata Steel saw gains, while others like Power Grid declined. Paytm's shares jumped over 5% after Zomato agreed to acquire its entertainment and ticketing business.
Asian stocks fall as US rally takes a breather: Markets wrap
Asian stocks declined following a halt in Wall Street's rally near record highs. Shares fell in Japan, Australia, and South Korea, while Chinese stocks are expected to follow suit. The market's recent gains were driven by hopes of Federal Reserve rate cuts. Investors are now looking for more signals from upcoming speeches and data.
Rupee closes higher boosted by inflows, broadly weaker dollar
Dollar sales from at least two large U.S.-based banks, likely on behalf of custodial clients, helped the currency gain, a foreign exchange trader at a mid-sized foreign bank said.
Oil prices ease on China demand fears, focus on Mideast talks
Oil prices fell in early Asian trading on Monday amid fears of lower demand from China. Brent crude and U.S. West Texas Intermediate futures both dropped by 0.2%. Investors are closely watching ceasefire talks in the Middle East, which could ease supply concerns.
Asia shares, gold underpinned by rate cut hopes
Asian stocks paused after their best week in nine months, bolstered by hopes of a U.S. recession being avoided and cooling inflation signaling potential interest rate cuts. Gold surpassed $2,500 an ounce, and the dollar dipped. Fed officials hinted at easing policies, driving S&P 500 futures up 0.2% and Nasdaq futures 0.3%.
Oil prices set for weekly gains on renewed enthusiasm around US economy
Oil prices fell marginally in early Asian trading on Friday but were on track for a second consecutive weekly gain after favorable U.S. economic data allayed recession concerns. Brent and WTI crude futures posted weekly increases. U.S. retail sales and unemployment data boosted confidence, but demand signals from the U.S. and China remained inconsistent.
Asian shares trade mixed as Japan and other markets calm from a previous week of crazy swings
Asian shares exhibited a mixed performance with Japan's Nikkei 225 rising 3.2% and the Shanghai Composite falling 0.4%. Investors reacted positively to the stabilizing yen and tech sector gains. Meanwhile, upcoming U.S. inflation and retail data, along with Japan's GDP report, are anticipated to impact global market dynamics.
Japanese shares lift Asian stocks ahead of US data barrage
Asian stocks climbed, driven by Japanese shares amid steady yen levels. Investors anticipated U.S. inflation data for insights on Federal Reserve policies. Oil prices dropped slightly following a sharp rise, as gold demand grew. Japan's Nikkei saw more than a 2% increase after fluctuating last week due to yen strength and U.S. recession concerns.
Oil holds on to last week's gains buoyed by Mideast tensions, economic data
Brent crude futures fell 7 cents, or 0.09%, to $79.59 a barrel by 0021 GMT, while U.S. West Texas Intermediate crude futures rose 2 cents, or 0.03%, to $76.86.
Asian shares enjoy the calm before inflation test
Key for the Federal Reserve will be U.S. consumer prices on Wednesday where economists look for rises of 0.2% in both the headline and core, with the annual core slowing a tick to 3.2%.
Middle East tensions may attract speculative waves in crude oil prices
Oil prices declined amid global recession fears, though losses were limited by potential Middle Eastern supply disruptions and US inventory drawdowns. Weak economic data from the US, China, and Europe heightened concerns. Geopolitical tensions and OPEC Plus production policies further influenced the market, while reduced Chinese demand and refinery activity added to the fluctuations.
Oil set for 3% weekly gain on rising Mideast tensions, better US outlook
GLOBAL-Oil set for 3% weekly gain on rising Mideast tensions, better US outlook
Oil edges lower on surprise build in US crude and gasoline stocks
Oil prices decreased in early Asian trading following a short-lived rebound due to unexpected increases in U.S. crude and gasoline inventories. Brent crude futures dropped to $76.27 a barrel, and WTI crude declined to $72.95 a barrel. Tensions in the Middle East and lower production at Libya’s Sharara oilfield have added to global supply concerns.
Sensex, Nifty rise a day after market meltdown tracking Asian peers
On Tuesday, the Indian stock market rebounded as positive US economic data alleviated recession concerns. Nifty and Sensex experienced significant gains, led by auto, metal, energy, and IT stocks. Domestic buying and a decline in oil prices further boosted market sentiment. Major sectoral indices also saw positive movements, contributing to the overall rise.
Oil prices slip below $80/bbl on China demand concerns, waning Middle East worries
Oil prices dipped again in early Asian markets due to fears over Chinese demand and Middle East tensions. Brent crude fell to $79.78 a barrel, while U.S. crude dropped to $75.67. China's sluggish economic data and growth forecasts, coupled with geopolitical risks, contributed to the continued declines in oil prices.
Asian shares rebound, hoping for dovish Fed guidance
After a benign June inflation report, markets are wagering the Federal Reserve will lay the groundwork for a September rate cut at its policy meeting on Wednesday. Futures are fully priced for a quarter-point easing and even imply a 12% chance of 50 basis points, and have 68 basis points of easing priced in by Christmas.
Crude oil prices at two-month highs. What is causing the surge?
Crude oil prices rose 6% in June due to OPEC+ production cuts and US summer fuel demand. WTI, Brent, and MCX futures gained. Geopolitical risks, hurricanes, like Hurricane Beryl, influenced prices. Energy agencies predict slower oil demand growth and surplus amid energy transitions. China's and India's demand are key. Fed rate cut decisions also impact oil markets.
Oil extends losses as strong dollar weighs on commodities markets
Oil prices fell in early Asian trade on Monday due to a stronger dollar and concerns of higher interest rates. Brent crude futures slid to $84.84 a barrel, while U.S. West Texas Intermediate crude futures were at $80.34. Geopolitical risks in the Middle East and issues in Ecuador impacted prices.
Oil prices steady as investors await inflation data, OPEC+ meeting
Oil prices stable in Asian trading as investors await U.S. inflation data and OPEC+ meeting outcomes on June 2. Brent crude July and August contracts, along with U.S. WTI crude futures, show minor fluctuations.
Asia shares touch two-year top as China plans property boost
Brent crude futures touched a one-week high of $84.14 a barrel in early trade, with the crash, in heavy fog, of a helicopter carrying Iran's president drawing traders' attention to the Middle East. Gold hovered close to a record high at $2,423 an ounce.
Oil prices climb amid uncertainty over Iran president's fate
Brent rose 26 cents, or 0.3% to $84.24 a barrel by 0049 GMT. U.S. West Texas Intermediate crude (WTI) gained 15 cents, or 0.2% to $80.21 a barrel.
Rupee opens on flat note against US dollar in early trade
At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.50 against the American currency and touched 83.49 in the initial trade.
Oil steadies in Asian trading, Middle East tensions remain in focus
Global benchmark Brent crude oil futures traded 4 cents higher at $87.39 a barrel by 0153 GMT, and U.S. West Texas Intermediate crude futures also gained 4 cents to $81.94 a barrel.
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