Gift Nifty, fall in Asian markets, among key global cues for Indian market today
Asian markets traded lower on Monday following a weak trend on Wall Street after a mixed US jobs report.
Investors will look ahead to US and Chinese inflation figures due later this week and a slew of corporate earnings.
In the US, the Labor Department reported that US employers added 187,000 jobs in July, roughly steady with revised June figures, raising hopes that the Federal Reserve may decide to hold rates steady at the next policy meeting in September.
The US unemployment rate was at a historically low level of 3.5%, below June’s 3.6% figure.
Asian Markets
MSCI’s broadest index of Asia-Pacific shares outside Japan traded little lower. The index lost 2.3% last week.
Japan’s Nikkei 225 declined 1%, while the Topix fell 0.52%. South Korea’s Kospi dropped 0.16% and the Kosdaq fell 0.78%.
Hong Kong’s Hang Seng index futures were trading around 70 points lower at 19,470.
Australia’s S&P/ASX 200 declined 0.25%.
Meanwhile, the Gift Nifty was trading 0.10% higher at 19,608.50, indicating a mildly positive start for the Indian benchmark indices.
Wall Street
On Friday, US stocks dropped following mixed reports on the job market.
The Dow Jones Industrial Average fell 150.27 points, or 0.43%, to 35,065.62, while the S&P 500 dropped 23.86 points, or 0.53%, to 4,478.03. The Nasdaq Composite ended 45.18 points, or 0.32%, lower at 13,914.54.
Among stocks, Apple’s shares fell 4.8% after disappointing earnings, witnessing its biggest daily percentage decline since September 29, 2022, while Amazon shares rose 8.3% on upbeat third-quarter outlook.
Icahn Enterprises plunged 23.3%, while Fortinet tumbled 25.1%. Tupperware shares rallied 35.5%, while Amgen gained 5.5 and DraftKings’ shares rose 5.8%.
Also Read: Wall Street week ahead: Focus on July inflation data
Europe
European shares ended higher on Friday.
Britain’s FTSE 100 gained 0.47% to 7,564.37, while Germany’s Frankfurt DAX rose 0.37% to 15,951.86. France’s CAC 40 rallied 0.75% to 7,315.07.
Energy
Crude oil prices rose amid tightening supplies.
Brent crude futures rose 0.32% to $86.52 per barrel, while US West Texas Intermediate crude futures gained 0.34% to $83.10.
Gold price today
Gold prices rose after a dip in the US dollar.
Spot gold gained 0.04% at $1,943.61 per ounce, while US gold futures added 0.12% to $1,978.45.
(Witn inputs from Reuters)
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Updated: 07 Aug 2023, 06:54 AM IST
