US markets little changed, S&P 500 trades flat-to-positive; GIFT Nifty down

Global Markets Outlook

The US markets traded flat on June 26. At 9:15pm, the S&P 500 traded flat-to-positive at 5,474 and the Nasdaq Composite edged 0.38 percent higher to 17,784. The Dow Jones Industrial Average recovered from the previous day’s losses and traded marginally higher at 39,150.

AI chipmaker Nvidia fell 1.13 percent to $124.67 as the company began its annual shareholder meeting . This came a day after the stock rallied over 5 percent.

The GIFT Nifty declined, down 0.17 percent at 23,820. The index traded  negative despite the bullish run of the Indian indices earlier during the day.

Indian indices extended their rally for another day as the markets hit new records owing to the strong performance of the banking sector. Nifty created a new all-time high of 23,889.90 during intraday trade and ended 0.62 percent higher at 23,868.80. Sensex hit a new high of 78,759.40 during intraday and ended 78,674.25. The Nifty Bank index, which drove this market rally, surged to a fresh 52-week high of 52,988.30, led by ICICI Bank, AU Small Finance Bank, Axis Bank and Kotak Mahindra Bank.

The European markets continued to decline for a second day in a row, with the FTSE down 0.27 percent at 8,225.53. DAX fell 0.12 percent to 18,155.24 and the CAC ended 0.69 percent lower at 7,609.15.

Earlier during the day, the Asian indices ended positive. Nikkei jumped 1.26 percent to 39,667.07 and the Hang Send traded flat-to-positive at 18,089.93.

DIIs net purchased Rs 5,103.67 crores in Indian equities while the FIIs/FPIs net sold Rs 3,535.43 crores.

Crude traded flat at $80.83 while Brent edged 0.14 percent higher to $85.13.