Stock Market LIVE Updates on Tuesday, August 27:
As the trading day began, Indian benchmark indices BSE Sensex and Nifty 50 were expected to open on a subdued note. This was indicated by the GIFT Nifty futures, which were trading marginally lower than Nifty futures. At 7:40 AM, GIFT Nifty futures were at 25,030 levels, around 10 points behind Nifty futures that were at 25,043.
In the global markets, the S&P 500 finished lower on Monday as investors awaited inflation data for clues about the path of interest-rate cuts by the Federal Reserve. The tech-heavy Nasdaq also declined, while the Dow Jones Industrial Average was supported by gains in Caterpillar and American Express, finishing slightly up. The S&P 500 declined 0.32% to end the session at 5,616.84 points. The Nasdaq declined 0.85% to 17,725.77 points, while the Dow Jones Industrial Average rose 0.16% to 41,240.52 points.
In Asia-Pacific markets, despite the Dow Jones Industrial Average on Wall Street reaching new highs, markets largely fell on Tuesday morning. Traders in Asia were also looking toward China’s year-to-date industrial profits as of July. Japan’s Nikkei 225 was 0.35% lower, while the broad-based Topix was flat. South Korea’s Kospi fell 0.42%, and the small cap Kosdaq saw a larger loss of 1.14%. Australia’s S&P/ASX 200 was up 0.13%, the only major Asia-Pacific index in positive territory. Hong Kong Hang Seng index futures were at 17,694, lower than the HSI’s last close of 17,798.73.
Late Monday, oil prices continued to rise after Israel and Hezbollah traded strikes over the weekend. US West Texas Intermediate crude climbed 3.5% to close at $77.42 per barrel, while Brent crude was up 3.05% at $81.43 a barrel, its highest in about two weeks. However, oil prices later pared some gains on Tuesday, with WTI futures trading at $77.16 and Brent at $81.23.
Overall, the stock market was experiencing a mix of trends and uncertainties, with investors closely monitoring various factors that could impact market movements. The global economic landscape and geopolitical events were contributing to the volatility in the markets, making it essential for investors to stay informed and make well-informed decisions.