Market closing (Image source: iStock)
The stock market today:Indian stock markets were trading lower on Thursday after starting the day with a slight gain. At 3:30 pm, BSE Sensex had fallen 151.48 points to 82,201.16, at 82,262. Skilled The index 50 fell 53.60 points to 25,145.10.
Stock market Today: Opening
The BSE Sensex rose 122 points, or 0.15 per cent, to 82,474, while the Nifty 50 gained 51 points, or 0.21 per cent, to 25,250 at the opening bell.
Global markets and economic concerns
Globally, market sentiment was mixed. The MSCI world stock index fell for a third straight day and oil prices continued their downward trend on Wednesday. Crude oil futures closed down more than 1 percent, marking their third straight day of losses, driven by concerns about weaker demand in the coming months.
Meanwhile, safe haven assets such as US Treasuries and the Japanese yen gained ground as investors sought protection. US Treasury bond yields fell and the closely watched yield curve between two- and 10-year bonds turned positive after data showed US job openings in July fell to a three-and-a-half-year low. This signaled a possible economic slowdown, further dampening risk appetite.
US Market
In the United States, stock markets had a difficult session. On Tuesday, Wall Street posted its biggest percentage drop since early August, driven by profit-taking and weak manufacturing data. On Wednesday, the S&P 500 also closed lower, as investors awaited key economic data, including reports on the US services sector and jobless claims, due out on Thursday.
Asian markets
In the Asia-Pacific region, most markets rallied on Thursday, except Japan. The Nikkei 225 and Topix indexes fell 0.92% and 0.49% respectively after Japanese wage data showed a 3.6% year-on-year increase in July, softer than the 4.5% rise seen in June. This modest increase could prompt the Bank of Japan to consider interest rate hikes, which would put pressure on stocks.
Investors now look ahead to the highly anticipated US nonfarm payrolls report for August, due on Friday, which will provide further clues about the strength of the US economy and the Federal Reserve’s next move on interest rates.
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