Stock Market Today: Everything you need to know to trade on May 13
Most markets in Asia-Pacific fell in early trading on Monday as investors assessed inflation data from China and awaited Japan’s PPI.
At 06:46 am the Nikkei 225 was down 59.53 points or 0.16% at 38,169.58 and the S&P ASX 200 was down 9.90 points or 0.13% at 7,739.10.
Bloomberg said the U.S. stock market lost momentum and bond yields rose as data pointed to an economy slowing amid persistent inflation pressures, prompting the Federal Reserve to cut rates. The approach is being challenged.
The S&P 500 and Dow Jones Industrial closed 0.16% and 0.32% higher, respectively, on Friday. The Nasdaq Composite closed 0.03% lower.
Brent crude was trading 0.34% lower at $82.45 a barrel. Gold fell 0.04% to $2,359.61 an ounce.
At 06:47 am, GIFT Nifty was trading 25.5 points or 0.12% higher at 22,082.50.
India’s benchmark equity indices recorded their worst week in almost two months as they fell nearly 2% this week. The indices closed with gains in five sessions on Friday led by gains in Bharat Petroleum Corporation and Hero MotoCorp Ltd.
Nifty closed 0.44% or 97.10 points higher at 22,054.60 and Sensex closed 248.45 points or 0.34% higher at 72,652.62.
Foreign investors remained net sellers of Indian equities for the seventh consecutive session on Friday. According to provisional data from the National Stock Exchange, foreign portfolio investors sold shares worth Rs 2,117.5 crore and domestic institutional investors remained net buyers for fourteen consecutive sessions and raised equity worth Rs 2,709.8 crore.
The Indian currency strengthened by 2 paise and closed at 83.49 against the US dollar.
