Stock Market Today: Due to unfavourable external influences, domestic indexes may open lower today. In the early morning trade, the Nifty futures on the Singapore Exchanges (SGX) were 75 points or 0.40% lower at 18,799. The majority of Asian markets were trading in the red, with the Hang Seng in Hong Kong falling 1.07%, the Shanghai Composite index in China falling 0.24%, the Nikkei 225 in Japan falling 0.50%, the KOSPI in South Korea falling 0.35%, and the Asia Dow falling 0.63%. Due to Juneteenth National Independence Day, the US stock market was closed on Monday.
Checkout the gainers and losers
The Nifty fell 13.20 points or 0.07% to 18,742.30 while the Sensex fell 50.22 points or 0.08% to 63,118.08. A total of 1362 shares increased, 666 fell, and 120 were constant.
On the Nifty, notable gainers included HDFC Life, Tata Consumer, Apollo Hospitals, SBI Life Insurance, and Adani Enterprises, while notable losers included HUL, Maruti Suzuki, Bajaj Finserv, M&M, and Hero MotoCorp.
Asia shares tumble on China’s first rate cut in 10 months
Tuesday saw a decline in Asian stocks as traders anticipated a larger stimulus package from Beijing and fretted that China’s most recent rate decrease would not be sufficient to help the economy.
In a highly anticipated move, China dropped two important benchmark lending rates on Tuesday, lowering the one-year loan prime rate (LPR) by 10 basis points to 3.55 percent and the five-year LPR by the same amount to 4.20 percent.
Outside of Japan, equities in the broadest MSCI index for Asia-Pacific declined by 0.69 percent. China’s standard CSI decreased by 0.03 percent. On Monday, all U.S. markets were closed.
Stock Market Today: Asian markets in red
The majority of Asian markets were trading in the red, with the Hang Seng in Hong Kong falling 1.07%, the Shanghai Composite index in China falling 0.24%, the Nikkei 225 in Japan falling 0.50%, the KOSPI in South Korea falling 0.35%, and the Asia Dow falling 0.63%.
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