Global Markets Today: Global equity indices declined on Tuesday as investors turned more cautious ahead of key data on US consumer prices. Disagreements over the US debt ceiling also led to a large sell-off of short-dated Treasury bills at the same time. The dollar index gained 0.168% as the dollar advanced against most other major currencies. In Asia early on Wednesday, gold prices were unchanged as investors prepared for inflation data that will influence the US Federal Reserve’s stance on policy. On Wednesday, SGX Nifty climbed, trading more than 20 points above Tuesday’s close of Nifty futures, indicating that Indian markets are off to a positive start.
Here we list down the major global market triggers that may impact the Indian stock market today
US Stock Market:
Global equity indices declined on Tuesday as investors turned more cautious ahead of key data on US consumer prices. At the same time, a dispute over the US debt ceiling fueled a significant sell-off in short-dated Treasury bills. In the event that Congress is unable to break the impasse, investors anticipate a government default as early as June 1. Treasury Secretary Janet Yellen warned on Monday that failing to raise the limit would have a significant negative impact on the US economy and weaken the dollar’s position as the world’s reserve currency.
The S&P 500 lost 0.46%, the Nasdaq Composite lost 0.63% and the Dow Jones Industrial Average lost 0.17%.
Asian stock market:
Asian shares opened modestly lower on Wednesday, before a key inflation data and US debt ceiling conflict dampened investor mood. While benchmark indices in Australia, South Korea and Japan declined, Hong Kong equity futures saw modest gains. The S&P 500 and Nasdaq 100 contract prices were slightly higher in Asia, after losses of 0.5% and 0.7%, respectively, on Tuesday.
SGX Nifty Today:
Indian markets are off to a good start as SGX Nifty extended gains on Wednesday, trading up over 20 points from Tuesday’s close of Nifty futures. SGX Nifty opened at 18332 level with a gain of 0.11 per cent.
Gold Price Today:
Gold prices remained unchanged in early Asian hours on Wednesday as traders prepared for inflation data that will influence the US Federal Reserve’s policy stance.
As of 0031 GMT, spot gold was unchanged at $2,035.39 an ounce. US gold futures were flat at $2,043.50.
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