Five things that changed for market overnight: Gift Nifty, RBI policy to global market cues
inflation data in the US due later today. Concerns over deflation in China dented sentiment. Data showed China’s consumer prices dropped 0.3% in July from a year ago, while producer prices fell 4.4%.
On the domestic side, investors will focus on the Reserve Bank of India’s (RBI) monetary policy decision wherein the central bank is widely expected to keep the repo rate unchanged. Also Read: RBI Policy Live: Governor Shaktikanta Das to announce monetary policy today, likely to keep rate unchanged Japan’s Nikkei 225 fell 0.33% and the Topix eased 0.16%. South Korea’s Kospi declined 0.43%, while the Kosdaq dropped 0.77%.
Hong Kong’s Hang Seng index futures were trading lower at 19,168 as compared to the HSI’s previous close of 19,246.03. In Australia, the S&P/ASX 200 was flat. Meanwhile, Gift Nifty was trading at 19,617 as compared to Nifty futures’ previous close of 19,693, indicating a negative start for the Indian benchmark indices.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 10th August US stocks ended lower on Wednesday ahead of the key inflation data that could provide clues on the Federal Reserve’s monetary policy path. The Dow Jones Industrial Average declined 186.92 points, or 0.53%, to 35,127.57, while the S&P 500 fell 31.47 points, or 0.70%, to 4,467.91 points. The Nasdaq Composite ended 162.31 points, or 1.17%, lower at 13,723.96.
Among stocks, Walt Disney shares fell 0.7% ahead of its quarterly, while Penn Entertainment rallied 9.1% on a $2 billion deal with ESPN to launch a sports betting business. Lyft shares tumbled 10%. WeWork shares crashed 38.6% to 13 cents after it warned it could go bankrupt.
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