Stock Market Live: The Indian benchmark indices, Sensex and Nifty traded lower on Monday dragged by selling in banks, FMCG, auto and financial stocks. Broader markets, smallcap and midcap indices traded over half a percent lower each. IT and metal stocks outperformed.
Sensex Today: The domestic stock markets have a gap-up opening, buoyed by the strong closing on Wall Street on Wednesday after the Federal Reserve said that the US economy is heading for its strongest growth in nearly 40 years.
US stocks gained today as inflation fears eased and investors prepared for the final passage of the $1.9 trillion stimulus bill. The Consumer Price Index, a key measure of inflation, gained 1.7% on a year-on-year basis, in line with economists’ expectations.
European stock markets are expected to open lower today, as markets lose momentum seen earlier in the week following a rally on Wall Street. London’s FTSE is seen opening 42 points lower at 6,698, Germany’s DAX 50 points lower at 14,409, France’s CAC 40 down 15 points at 5,915 and Italy’s FTSE MIB 79 points lower at 23,731, according to IG.
U.S. stock futures dropped today as rising Treasury yields brought renewed pressure to equities with lofty valuations. Contracts on the Nasdaq 100 fell 2% in early trading and S&P 500 futures were lower, tracking losses in Asia. Ten-year Treasury yields topped 1.6%, sparking a rally in European financial shares. The dollar strengthened against all its major peers.
On Thursday sensex joined a global selloff, as concerns over rising bond yields resurfaced. Most Asian markets fell 1.5-3 per cent in morning trade and domestic indices were no exception.
The stock surged to an all-time high yesterday, a rare bright spot in a down market, after the company announced lofty revenue goals. Twitter expects to increase its user base to 315 million daily active users and double its yearly revenue by the end of 2023.