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Benchmark Indian equity indices, the BSE Sensex and Nifty 50, were subdued at the open on Monday
Stock Market Updates
Benchmark Indian equity indices, the BSE Sensex and Nifty 50, were subdued at the pre-open on Monday following the Reserve Bank of India’s decision to lower the country’s FY25 GDP growth forecast while increasing its inflation estimates for the fiscal year.
At the pre-open, the BSE Sensex was down by 106 points, or 0.13%, at 81,602, while the Nifty 50 was at 24,633, declining by 43.90 points, or 0.18%.
Global Markets
South Korean stocks dropped more than 1% on Monday amid political uncertainty, following President Yoon Suk Yeol’s narrow escape from impeachment after briefly imposing martial law last week.
This decline came despite a generally positive day for Asian markets, bolstered by another record on Wall Street. Traders were also awaiting a high-level economic meeting in China and monitoring developments in Syria following President Bashar al-Assad’s removal.
Japan’s Nikkei 225 gained 0.15%, while the Topix index rose 0.2%. Japan’s third-quarter GDP growth was revised up to 0.3% quarter-on-quarter, exceeding the earlier estimate of 0.2% and surpassing expectations from a Reuters poll, which had forecast no change.
The Hong Kong Hang Seng index fell 0.28%, while mainland China’s CSI 300 index rose by 0.2%. China’s consumer price growth in November was lower than expected, rising by just 0.2% year-on-year, down from a 0.3% increase in October. Economists had forecast a growth of 0.5%.
In the U.S., the Nasdaq and S&P 500 reached record closing highs on Friday. The Dow Jones Industrial Average fell 123.19 points, or 0.28%, to 44,642.52. Meanwhile, the S&P 500 rose by 15.16 points, or 0.25%, to 6,090.27, and the Nasdaq Composite gained 159.05 points, or 0.81%, to 19,859.77. The US dollar index was little changed at 105.78.
Treasuries saw a rally following the release of data on Friday. The two-year note yield decreased by 5.5 basis points to 4.092%, while 10-year benchmark yields fell 4 basis points to 4.141%.
European stocks were up by 0.3%, while the UK’s FTSE 100 ended flat.
