US markets recover from week’s losses, S&P 500 up 0.26%; GIFT Nifty down

Global Markets Outlook

The US markets snapped the six-day losing streak on April 22 to start the week in green. At 9:00 pm IST, the S&P 500 edged 0.26 percent higher to 4,980.28 as tensions in the Middle East region eased. The Nasdaq Composite was up 0.29 percent at 15,325.64 and the Dow Jones Industrial Average traded flat-to-positive at 38,020.72.

The GIFT Nifty however traded marginally lower, down 0.08 percent at 22,366.50.

European markets also recovered from the previous week’s losses and traded higher. The FTSE surged 1.67 percent to 8,027.33, nearing its 52-week high of 8,044.98. This surge was fuelled by expectations of rate cuts by the Bank of England coming in later this year. The DAX traded 0.59 percent higher at 17,844.64 and the CAC was also up 0.19 percent at 8,037.56.

Earlier during the day the Asian markets rebounded from selloffs and ended higher on Monday. The Nikkei was up by a percent at 37,438.61 and the Hang Seng jumped 1.77 percent to 16,511.69.

The Indian indices continued to rise for the second day in a row. Nifty ended 0.86 percent higher at 22,336.40 and the Sensex was up 0.77 percent at 73,648.62.

DIIs net purchased Rs 3,542.93 crores while the FIIs/FPIs net sold Rs 2,915.23 crores.

Crude traded mixed on April 22 after Iran announced on Friday that it will not escalate the conflict with Israel. WTI traded flat-to-positive at $83.16 while Brent declined 0.33 percent to $87.00.