Asian markets saw gains while US stock market indices ended with minor increases as Treasury yields fell.
The Indian stock market indices continued their upward trend on Thursday, with the Sensex surpassing the 79,000 mark and the Nifty 50 crossing 24,000 for the first time. The Sensex closed at 79,243.18, up 0.72%, while the Nifty 50 settled at 24,044.50, a 0.74% increase.
Deepak Jasani, Head of Retail Research at HDFC Securities, noted that market participants are cautious due to high valuations and the possibility of profit-taking. Despite concerns, the markets have seen a gradual upswing, with expectations for Q1FY25 earnings not being very optimistic.
In Asian markets, Japan’s Topix index was on track to reach a 34-year high, with MSCI’s broadest index of Asia-Pacific shares outside Japan posting a 0.06% gain. Japan’s Nikkei 225 and Topix both rose, while South Korea’s Kospi and Kosdaq showed mixed results.
The Gift Nifty was trading positively, indicating a good start for the Indian stock market indices.
In the US, stock market indices ended with minor gains as treasury yields eased ahead of fresh inflation data. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all saw modest increases.
The Securities & Exchange Board of India (SEBI) approved new criteria for single stock F&O entry and exit, voluntary delisting norms, and measures to ease business for REITs and InvITs.
In Japan, factory output rose in May, while Tokyo’s core inflation accelerated in June. The US dollar and Treasury yields fell, and oil prices rose on supply concerns.
Overall, the markets showed positive movements, with a mix of gains and losses across different sectors.