Gift Nifty, rally in Asian markets and US stocks to Japan’s policy tweak - key triggers for Indian stock market today
inflation data from across the region this week. US markets ending higher on Friday also improved sentiment. China is set to release its July purchasing managers index on Monday, while the US ISM surveys on manufacturing and services, the July payrolls report and European inflation due this week will also be eyed.
Investors are still gauging the implications of the Bank of Japan’s decision to lift the lid on bond yields, in a step away from its ultra-easy policies. Meanwhile, Japanese retail sales rose 5.9% in June from a year earlier, compared with a forecast for a 5.6% increase. Separate data showed factory output rose 2.0% in June from the previous month.
In the US, data showed that in the 12 months through June, the PCE price index advanced 3.0%, its smallest annual gain since March 2021. Easing wage costs and core inflation fuelled hopes the Federal Reserve was at the end of its policy tightening cycle. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 31st July MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1%, having gained 4.9% so far in July to reach a five-month high.
In Japan, the Nikkei 225 rallied 1.11% and the Topix jumped 1.27%. South Korea’s Kospi rose 0.65%, while the Kosdaq gained 1.21%. Hong Kong’s Hang Seng index futures were trading over 240 points higher at 20,160, pointing to a stronger open.
In Australia, the S&P/ASX 200 rose 0.22% ahead of the Reserve Bank of Australia’s rate decision on Tuesday. Meanwhile, Gift Nifty was trading at 19,788.50 as compared to Nifty’s Friday’s close of 19,646.05, indicating a positive start for the Indian benchmark index. Also Read: Auto sales, Q1 results, PMI data & more: Check key triggers for stock markets this
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