Business News Desk, Indian benchmark indices Sensex and Nifty are expected to open gap-down on September 4. Nifty is seen trading with weakness near 25,172.5. At the same time, in the rangebound trading session yesterday on September 3, the benchmark indices closed with little change. At the end of the trading session, the Sensex fell 4.40 points or 0.01 percent to 82,555.44 and the Nifty rose 1.10 points to 25,279.80. Stay tuned with Moneycontrol to know what is happening in the currency and equity markets today. Here we are releasing a list of today’s important news running on all news platforms which can affect the Indian and international markets.
Gift Nifty
GIFT Nifty is trading weak today. This is indicating a decline in the market today at the beginning of the day. Nifty futures are trading around 25,172.5 in the morning.
Global Market
Due to poor economic data in the US, the sentiments of global markets are bad. Asian markets are witnessing a huge decline. Nikkei has fallen by 3 percent. GIFT Nifty is also trading down by about 200 points. There was a big decline in the American market as well. DOW JONES NASDAQ have fallen by more than 3 percent. NVIDIA has fallen by 10 percent.
Pressure in US markets
Yesterday, the US markets were under pressure. The Nasdaq fell by more than 3 percent. 9 out of 11 sectors of the S&P500 index fell. The Philadelphia SE Semiconductor Index fell by 7.8 percent. The US VIX rose 33 percent to reach 20.72. Now the market is waiting for the decision of the US Fed. The Fed will decide on interest rates on September 18. China’s import and export figures will come on Saturday.
softening in crude
Crude oil has fallen by about 5 percent in a day. Brent prices have slipped below $74. WTI is also trading below $70. The price of crude oil has reached its lowest level since December 2023. Weak data from the US and China has created pressure. Prices are also falling due to increased supply in the market.
Asian Markets
Today, Asian markets are trading with a decline. GIFT Nifty is showing a decline of 187.50 points. At the same time, Nikkei is seen around 37,464.09 with a decline of about 3.16 percent. At the same time, Strait Times is showing weakness of 1.76 percent. Taiwan market is trading at 21,229.43, down by 3.96 percent. While Hang Seng is seen at 17,494.03, down by 0.89 percent. Kospi is trading with a decline of 2.22 percent. At the same time, Shanghai Composite is seen at 2,790.45, down by 0.45 percent.
US Bond Yield
The yield on 10-year Treasury bonds in the US fell marginally to 3.82 per cent. The yield on 2-year bonds in the US fell by 11 basis points to 3.85 per cent.
Dollar index falls
The dollar index, which measures the US currency’s strength against a basket of major currencies, was trading at 101.71, down 0.11 per cent from its previous close of 101.82.
Asian currencies mixed
Asian currencies were trading mixed against the US dollar in early trade on Wednesday. Japanese Yen, Philippines Peso, Malaysian Ringgit were seeing gains. On a yearly basis, all currencies except Malaysian Ringgit and Singapore Dollar were trading in the red.
LME Commodities
LME commodities prices fell in early trade on Wednesday. Copper prices fell by 2.5 percent and nickel prices were down by 1 percent.
gold moves flat
Gold prices are trading flat around $2492.77. While silver prices have increased by 0.28 percent to $27.94.
FII and DII fund flows
Foreign institutional investors (FIIs) continued their buying spree for the fourth consecutive session on September 3 and purchased equities worth Rs 1029 crore, while domestic institutional investors also extended their support and bought equities worth Rs 1986 crore on the same day.