Gift Nifty, Asian markets, US GDP growth to ECB rate hike - key triggers for Indian stock market today
Read here: US GDP growth accelerates to 2.4% in Q2 despite Fed rate hikes Meanwhile, the European Central Bank (ECB) raised interest rates by 25 basis points to 3.75%, its highest level since 2001. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4%. The Nikkei 225 declined 1.35% and the Topix fell 1%.
South Korea’s Kospi eased 0.25%, while the Kosdaq rose 0.51%. Hong Kong’s Hang Seng index futures were trading around 290 points lower at 19,347. Australia’s S&P/ASX 200 fell 0.76% ahead of the release of its producer price index figures for the second quarter.
Meanwhile, Gift Nifty was trading higher at 19,791 level as compared to Nifty’s previous close of 19,659.90, indicating a positive start for the Indian benchmark index. The US stock market ended lower on Thursday, with the Dow Jones snapping its longest winning streak since 1987. The Dow Jones Industrial Average declined 237.4 points, or 0.67%, to end at 35,282.72, while the S&P 500 fell 29.29 points, or 0.64%, to close at 4,537.46.
The Nasdaq Composite dropped 77.18 points, or 0.55%, to 14,050.11. Among stocks, Meta Platforms rallied 4.4% on reporting a jump in second-quarter advertising revenue, while McDonald’s rose 1.2% after it beat analysts’ forecasts for profits. Chipmakers Nvidia and Micron rose 0.99% and 5.48% respectively.
Microsoft shares fell 2.09%. Southwest Airlines tanked 8.94% after its second-quarter profit dipped, while Royal Caribbean surged as it lifted its annual profit forecast. Honeywell International shares declined 5.7%, while EBay shares plunged 10.53%.
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