Gift Nifty, Asian markets in the green amid gains on Wall Street: Check out key global cues for Indian stock market
US Federal Reserve to increase interest rates by 25 basis points this month. Meanwhile, several Fed officials said additional interest rate hikes are needed to bring down inflation that is still too high, but the end to the US central bank's current monetary policy tightening cycle is getting close, Reuters reported. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 11th July In Japan, Nikkei 225 gained 0.6% and the Topix rose 0.3%.
South Korea’s Kospi was 0.7% higher, while the Kosdaq was up 0.74%. Hong Kong’s Hang Seng index futures traded around 162 points higher at 18,642. Australia’s S&P/ASX 200 rose 0.22% Meanwhile, Gift Nifty was trading 25 points, or 0.13%, higher at 19,481.50, indicating a positive start for the broader Indian index.
US stocks edged higher marginally as investors awaited inflation data, due to be released on Wednesday. The S&P 500 gained 3.89 points, or 0.09%, at 4,402.84. The Dow Jones Industrial Average rose 167.86 points, or 0.5%, at 33,902.74.
The Nasdaq Composite added 4.30 points, or 0.03%, at 13,665.01. Among stocks, heavyweights such as Apple, Microsoft and others declined after Nasdaq Inc announced the rebalance of its Nasdaq 100 index to address the benchmark’s “overconcentration." Apple shares fell 1.1% with its market capitalization at $2.967 trillion, while shares of Alphabet and Amazon plunged over 2%. Microsoft and Tesla share prices dropped more than 1% each.
Meanwhile, Intel shares surged 2.6% and Qualcomm gained 1.3% after US treasury secretary Janet Yellen said over the weekend that meetings with senior Chinese officials were direct and productive. European shares rose led by gains in the travel & leisure sector stocks. The pan-European STOXX 600
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