Gift Nifty, global markets to US credit rating downgrade - key triggers for Indian stock market today
Read here: Fitch cuts US credit rating to AA after debt limit standoffs Meanwhile, a report from the Institute for Supply Management said that in July manufacturing contracted at a slightly worse pace than economists expected, but not as badly as it did in June. A separate report from S&P Global also said US manufacturing is continuing to decline. In Japan, the Nikkei 225 declined 1.48%, while the Topix fell 1.11%.
South Korea’s Kospi dropped 0.45% and the Kosdaq was down marginally. Hong Kong’s Hang Seng index futures were trading over 100 points lower at 19,892, indicating a weaker open. Australia’s S&P/ASX 200 fell 0.8%.
Meanwhile, Gift Nifty was trading at 19,783 level as compared to Nifty’s previous close of 19,733.55, indicating a flat-to-positive start for the Indian benchmark index. Also Read: Day trading guide for today: Six buy or sell stocks for Wednesday —August 2 US stock indices ended mixed on Tuesday with the S&P 500 and the Nasdaq edging lower following a mixed set of earnings reports. The S&P 500 fell 12.25 points, or 0.26%, to 4,576.94 points, while the Nasdaq Composite declined 62.11 points, or 0.43%, to 14,284.20.
The Dow Jones Industrial Average ended 69.04 points, or 0.19%, higher at 35,628.57. Among stocks, Caterpillar jumped 8.8% after its second quarter profit rose, while Pfizer fell 1.2% after its quarterly revenue missed analysts’ expectations. Uber shares plunged 5.68% after the company missed second quarter revenue forecasts.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 2nd August European stocks fell on shrinking factory activity in the euro zone. The pan-European benchmark STOXX 600 fell 0.9%. Britain’s FTSE 100 fell 0.4% to 7,666.27, while Germany’s DAX
. Read more on livemint.com
