Markets in the Asia-Pacific region rose during early trade on Tuesday, with China’s industrial profit data in focus.
The Nikkei 225 was trading 0.62% higher at 40,650.37, and the S&P ASX 200 was 0.36% higher at 7,808.00 as of 6:29 a.m.
U.S. stocks gave up gains during the last hours of the trade, sending the S&P 500 and Dow Jones Industrial Average to their third straight decline, as investors await the Personal Consumption Expenditure data, due to be released on Friday. The Federal Reserve’s preferred inflation gauge will provide fresh cues about the central bank’s rate trajectory going forward.
The S&P 500 and Dow Jones Industrial Average fell 0.28% and 0.08%, respectively, on Tuesday. The Nasdaq Composite declined 0.42%.
Brent crude was trading down 0.53%, while gold was down 0.06%.
The GIFT Nifty was trading 23 points or 0.1% lower at 22,044.50 as of 8:24 a.m.
India’s benchmark equity indices snapped their three-day rally and ended lower on Tuesday as losses in heavyweights weighed, while broader indices ended higher.
The Nifty lost 75.90 points, or 0.34%, to close at 22,020.85, while the Sensex ended down 357.98 points, or 0.49%, at 72,473.96.
Overseas investors turned net buyers on Tuesday after three days of selling. Foreign portfolio investors mopped up stocks worth Rs 10.1 crore, while domestic institutional investors remained net buyers for the sixth day and mopped up equities worth Rs 5,024.4 crore, the NSE data showed.
The Indian rupee strengthened by 14 paise to close at 83.29 against the U.S. dollar.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
