The Indian stock market kicked off today with a solid jump. Both the Sensex and Nifty saw some serious gains. On the global front, crude oil prices also shot up by as much as 4%.
The Indian stock market opened with a big rally today. The 30-share BSE Sensex jumped 657 points to open at 77,423. The Nifty also climbed 191 points, starting the day at 24,176.
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Asian Markets
Early trading in Asian markets on Wednesday was a mixed bag. Investors were playing it safe due to concerns over rising AI spending by tech giants, upcoming results from major companies, and the US Federal Reserve's interest rate decision today.
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Japan's Nikkei
Japan's Nikkei 225 index fell by 0.49% in early trade. South Korea's Kospi also dropped by over 5%. Meanwhile, China's Shanghai Composite was trading in the red, down 0.19%. However, Hong Kong's Hang Seng bucked the trend, rising by 1.45%.
The US stock market, Wall Street, had a mixed session last night. On Tuesday, the Dow Jones Industrial Average went up by 537.24 points, or 1.03%, to close at 52,747.32. The S&P 500 also ended 0.21% higher at 7,428.78. But, the Nasdaq Composite slipped slightly by 0.22% to 24,876.91.
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US Stock Futures
Following the mixed session, US stock futures linked to these benchmarks are trading with an upward trend this morning. Dow futures are up by 74 points (0.14%), S&P 500 futures have gained 0.34%, and Nasdaq 100 futures have risen by 0.40%.
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Today's Crude Oil Price
After falling sharply for three straight days, international crude oil prices have jumped by up to 4% today. West Texas Intermediate (WTI) crude futures are trading 4.23% higher at $82.61 per barrel.
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Brent Crude Futures
Brent crude futures for August delivery also shot up by 4.20% to $87.62, getting close to the key psychological level of $90. However, Comex crude prices fell 4.13% to $82.53 per barrel.
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US Dollar
Despite the sudden spike in crude oil prices, the Indian Rupee has recovered a bit from its lowest level against the US Dollar. It is currently trading between 95.69 and 95.70, which is an improvement from yesterday's closing price of 95.91.
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Expert Advice
Note: Investing in the stock market involves risks. Asianet News Bangla does not encourage investment. This report is for informational purposes only. Always consult with experts before investing in the market.
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