North India Statesman
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Global Market Trends: Today, very important and mixed signals are being received from the global market for investors. On one hand, diplomatic tension between America and Iran is at its peak in the Middle East, while on the other hand, stock market investors have made huge purchases ignoring this tension. There is a lot of excitement in the Asian markets on Monday, which is going to have a direct impact on the movement of the Indian Stock Market today. Let us understand from a reporter’s point of view what is the mood of the markets around the world today and what effect it will have on your investments.
Greenery prevails in Asian markets, Gift Nifty is giving signs of gap-up
Asian markets have made a strong start in Monday’s trading session. Japan’s main index Nikkei 225 has reached a record high with a spectacular gain of 0.53%. At the same time, South Korea’s Kospi has also taken a sharp jump of 1.5% and touched a new historical peak of 6,557. However, Australia’s S&P/ASX 200 index fell slightly by 0.54%.
The best news for Indian investors is coming from Gift Nifty. This morning, GIFT Nifty is trading at the level of 24,086 with a huge jump of 137 points (0.57%). This is a clear and positive indication that today the stock market on Dalal Street can also start with a great gap-up.
Tech stocks dominate Wall Street, Nasdaq and S&P 500 create history
New hopes for peace talks between America and Iran have breathed new life into the American stock markets. There was heavy buying on Wall Street last Friday, due to which both the S&P 500 and Nasdaq indices closed at their lifetime high (record high). While the Dow Jones fell 79.61 points to close at 49,230.71, the S&P 500 index rose 56.68 points to 7,165.08. Nasdaq saw the biggest jump of 398 points (1.63%) and closed at 24,836.60.
Tech and AI stocks gave impetus to this rise. Shares of Nvidia rose 4.32%, while shares of leading chip companies like AMD and Arm rose by 14%. Apart from this, strong buying was also recorded in shares of Amazon and Microsoft.
What is the new update on peace talks between America and Iran?
A big update has come out on the geo-political front. According to the report of Axios, after the failure of recently scheduled talks in Pakistan, Iran has now sent a new proposal to America through Pakistani mediators. This proposal calls for reopening the disputed Strait of Hormuz and ending the war. At present, the issue of nuclear talks has been put on the back burner in this deal. The eyes of the whole world are now fixed on the outcome of this peace proposal.
Crude oil prices rise again, Brent crude crosses $107
The ongoing conflict between Iran and America and the closure of the Strait of Hormuz has affected the supply of crude oil across the world. This has had a direct impact on crude oil prices. In the global market, Brent Crude is trading at $107.49 per barrel with a big jump of 2.05%. At the same time, American WTI crude has also increased by 1.88% to reach $96.17 per barrel. This inflation of crude oil can become a matter of concern for big importing countries like India.
The shine of dollar dimmed the price of gold and silver
The US dollar is continuously strengthening due to ‘safe-haven’ demand in the currency market. The dollar index remained strong at 98.623, leading to losses in major currencies like the Japanese yen (159.51), euro and sterling.
Direct pressure of strong dollar has been seen on the bullion market. In the international market, spot gold fell 0.3% to $4,694.26 an ounce. In the last one week, gold has become cheaper by about 2.5%, due to which its four consecutive weeks of rise has been put on pause. Similarly, spot silver also fell by 0.3% to $75.48 per ounce.
