Stock markets open lower: Sensex declines 350 points, Nifty below 16,500
Auto, financials and realty are down 0.5-1%
Shares in Asia-Pacific were mixed in Friday morning trade as investors await the Reserve Bank of Australia’s latest interest rate decision. |
In keeping with trends on SGX Nifty, the stock markets opened lower on June 7. The benchmark BSE Sensex plunged 350 points while the broader Nifty was below 16,500. Among the sectors, auto, financials and realty are down 0.5-1 percent each while buying was seen in capital goods names
Asian markets are trading on a mixed note as investors await the Reserve Bank of Australia's latest interest rate decision. Topix index trading at 0.3 percent higher whereas Australia s&p is trading 200 points lower. On the technical front 16,300 and 16700 are immediate support and resistance in Nifty 50. For Bank Nifty 34,800 and 35,600 are immediate support and resistance respectively, Nigam said.
On June 6, Sensex declined 93.91 points or 0.17 per cent at 55,675.32. The Nifty shed 18.50 points or 0.11 per cent at 16,565.80.
Asian stocks trade mixed
Shares in Asia-Pacific were mixed in Friday morning trade as investors await the Reserve Bank of Australia’s latest interest rate decision.
US markets close higher
US stocks rose on Monday, following gains in Asia and Europe on signs of an easing of restrictions by China, and as investors took expected interest rate hikes in coming days in their stride despite crude oil hitting $120 a barrel. The dollar gained against the euro ahead of a European Central Bank policy meeting on Thursday but was weaker against the commodity currencies - the Canadian, Australian and New Zealand dollars - as risk appetite increased.
Global markets up on Monday
Global equity markets rose on Monday on signs of an easing of COVID-19 pandemic-related and other restrictions by China and as investors took expected interest rate hikes in coming days in their stride despite crude oil hitting $120 a barrel. The dollar gained against the euro ahead of a European Central Bank policy meeting on Thursday but risk appetite ebbed after being higher earlier on the day.
Crude prices dips
Oil prices settled slightly lower after choppy trade on Monday, buoyed by Saudi Arabia raising its July crude prices but amid doubts that a higher output target for OPEC+ oil producers would ease tight supply.
India is looking to double down on its Russian oil imports with state-owned refiners eager to take more heavily-discounted supplies from Rosneft PJSC as international players turn down dealings with Moscow over its invasion of Ukraine.
India in talks to double Russian oil imports
India is looking to double down on its Russian oil imports with state-owned refiners eager to take more heavily-discounted supplies from Rosneft as international buyers turn down dealings with Moscow over its invasion of Ukraine, Bloomberg report said.
Rupees edges up
Rupee opened at 77.72 against the dollar versus Monday’s close of 77.63.
Economic growth to be supported by fiscal spending: FM
Finance minister Nirmala Sitharaman on Monday said that the country's growth will be driven by fiscal spending. The economic growth will continue to be supported by fiscal spending along with an investment push, imparting momentum to the economy based on the idea of growth at macro level complemented by all-inclusive welfare at micro level, the minister said participating virtually in the second BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under the China chairmanship.
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