Most Asian-Pacific markets were trading lower in early trade on Tuesday, tracking overnight losses on Wall Street.
The Nikkei 225 was trading 21.53 points or 0.053% higher at 40,435.65, and the S&P ASX 200 was trading 4.50 points or 0.058 lower at 7,807.40.
The rally in U.S. stocks took a breather, with the market still heading towards its best week in 2024 amid speculation the Federal Reserve will be able to cut interest rates as soon as June, according to Bloomberg.
The S&P 500 index and Nasdaq Composite fell by 0.31% and 0.27%, respectively, as of Monday. The Dow Jones Industrial Average ended 0.41% lower.
Brent crude was trading 0.09% higher at $86.84 a barrel. Gold was higher by 0.10% at $2,174.05 an ounce.
India’s benchmark equity indices ended higher on Friday, extending gains for a third straight day as ITC Ltd., Larsen & Toubro Ltd. and ICICI Bank Ltd. led the advance. The NSE Nifty 50 closed 84.80 points, or 0.39%, higher at 22,096.75, while the S&P BSE Sensex ended 190.75 points, or 0.26%, up at 72,831.94.
Indian equity market was closed on Monday on account of Holi.
Overseas investors remained net sellers of Indian equities for the third consecutive day on Friday. Foreign portfolio investors offloaded stocks worth Rs 3,309.8 crore and domestic institutional investors remained net buyers for the fifth day and mopped up equities worth Rs 3,764.9 crore, the NSE data showed.
The Indian rupee weakened by 28 paise to close at 83.43 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.
