Gift Nifty, Asian markets gain following rally in US stocks; check out key global cues for Indian stock market
retail sales rose less than expected in June on a fall in building materials and service station receipts. In Asia, according to the Reuters Tankan survey, which measures confidence among large Japanese companies, business sentiment among manufacturers in Japan declined for the first time in six months in July. Also Read: Day trading guide for today: Six buy or sell stocks on Wednesday - July 19 Japan’s Nikkei 225 gained 1% and the Topix rose 0.94%.
South Korea’s Kospi inched up marginally and the Kosdaq added 0.31%. Hong Kong’s Hang Seng index futures were trading over 100 points lower at 18,898. Australia’s S&P/ASX 200 rose 0.58% ahead of the release of unemployment figures on Thursday.
Meanwhile, Gift Nifty was trading marginally higher at 19,808 as against Nifty’s previous close of 19,749.25, indicating a positive start for the Indian benchmark index. US stocks ended higher led by gains in technology and banking shares. The Dow Jones Industrial Average rallied 366.38 points, or 1.06%, to 34,951.30, while the S&P 500 gained 32.37 points, or 0.72%, to end at 4,555.16 points.
The Nasdaq Composite closed 108.69 points, or 0.76%, higher at 14,353.64. Among stocks, Morgan Stanley shares surged 6.45%, Bank of America rallied 4.42%, Bank of New York Mellon gained 4.11% and PNC Financial rose 2.51% reporting their quarterly results. Microsoft shares hit a record high after announcing it would charge more to access new artificial intelligence features in its Office software. The stock closed 3.98% higher at $359.49.
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