Gift Nifty, Asian markets, Chinese economic stimulus to US stocks rally - key triggers for Indian stock market today
equity market remained weak amid mixed corporate results for the June quarter. “We expect some cautiousness ahead of the US Fed meeting where a 25 bps hike is expected, while investors keenly await commentaries. With the quarterly earnings season now at full pace during the week, we expect stock-specific action to continue in the market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 25th July Japan’s Nikkei 225 declined 0.29%, while the Topix was down marginally. South Korea Kospi was flat, while the Kosdaq fell 0.32%. Hong Kong’s Hang Seng index futures were trading 520 points higher at 19,189.
In Australia, S&P/ASX 200 gained 0.24%. Meanwhile, Gift Nifty was trading at 19,733 level as compared to Nifty’s previous close of 19,672.35, indicating a gap-up opening for the Indian index. Also Read: Gift Nifty sees record-setting first session single day turnover of $8.5 billion US stocks edged higher on Monday ahead of the Federal Reserve monetary policy meeting which is widely expected to hike its interest rates on Wednesday to its highest level since 2001.
The S&P 500 rose 18.30 points, or 0.4%, to 4,554.64. The Dow Jones Industrial Average gained 183.55 points, or 0.5%, at 35,411.24, while the Nasdaq composite added 26.06 points, or 0.2%, at 14,058.87. The Dow Jones Industrial Average recorded its longest winning streak since February 2017 Among stocks, Chevron rallied 2% after it reported a stronger profit than expected, while AMC Entertainment share price jumped 32.9% after a judge blocked the theater chain's stock conversion plan.
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