The US markets recovered on July 25 as fresh data revealed economic growth accelerated faster than expected. Thursday’s data showed the second-quarter GDP grew 2.8 percent rate, higher than the 2.1 percent street estimate.
At 9:30 pm IST, the S&P 500 rose 0.6 percent to 5,460 and the Nasdaq Composite was up half a percent at 17,427. The Dow Jones Industrial Average surged nearly 1 percent to 40,228.5. Investors now await the Core PCE Price Index data for the month, to be released this Friday.
The GIFT Nifty traded 0.24 percent higher at 24,462.50 despite the negative close of the Indian markets earlier during the day.
Indian indices extended losses on Thursday amid earnings season. Nifty ended flat-to-negative at 24,406.10 and the Sensex was down 0.14 percent at 80,039.80.
DIIs net purchased Rs 2,431.69 crores in Indian equities and the FIIs/FPIs net sold Rs 2,605.49 crores.
The European markets traded mixed. While the FTSE gained 0.40 percent at 8,186.35. the CAC tumbled 1.15 percent to 7,427. DAX also declined nearly half a percent to 18,298.72.
Earlier during the day, the Asian indices witnessed massive losses. Nikkei plummeted 3.28 percent to 37,869.51 and the Hang Seng fell 1.77 percent to 17,004.97.
Crude edged higher for a second day in a row, up 0.66 percent at $78.10. Brent also gained, up 0.26 percent at $81.92.
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