Sensex Today | Share Market Updates: Indian stock markets extended their gains for the second trading session on Monday on encouraging domestic macroeconomic data and on hopes of a rate hike pause by the US Federal Reserve.
Intense buying in IT and commodity stocks also bolstered the market sentiment.
European stocks closed flat on Monday after paring gains. Earlier in the session, the stocks rose on fresh Chinese stimulus measures aimed at supporting the country’s beleaguered property sector.
China’s financial regulators have lowered down-payment requirements for first and second-time home buyers and cut rates on existing mortgages.
With Wall Street shuttered for Labor Day, European trading volumes were below their thirty-day average by almost a third, according to data compiled by Bloomberg.
Sensex Today Live | Share Market Updates: European Stocks Cede China-Led Gains in Thin Holiday Trade
European shares ceded earlier gains in low-volume trading as some of the optimism around China’s property market stimulus ebbed.
Europe’s Stoxx 600 gauge closed little changed after rising as much as 0.8% earlier. The consumer, travel and leisure and mining shares — sectors with exposure to China — advanced. US markets are shut for the Labor Day holiday and futures for the S&P 500 index were flat.
With Wall Street shuttered, European trading volumes were below their thirty-day average by almost a third, according to data compiled by Bloomberg. Danish drugmaker Novo Nordisk A/S rose to a new record high, having just become Europe’s most valuable firm. Carmaker Mercedes Benz Group AG added 1% after unveiling a new, longer-range electric vehicle.
Expectations of crude supply cuts from the OPEC group kept oil futures near nine-month highs. (Bloomberg)(
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