look news india
For the Indian stock market, on the first trading day of the week i.e. Monday, June 22, very excellent and positive signals are being received from the global markets. Before the opening of the domestic market, a rise of almost 100 points has been seen in Gift Nifty, which is a clear indication of a strong and green light start for Dalal Street. Along with this, the Indian market has received major support from institutional investors on the domestic front. Foreign portfolio investors (FIIs) have made bumper purchases of ₹ 4,800 crore in the cash market, although light profit booking or selling has been recorded in the futures market.
There was a holiday in American markets, but Dow futures showed a slight rise.
Talking about the American markets (Wall Street), in the last trading session i.e. Friday there was an official federal holiday on the occasion of ‘Juneteenth National Independence Day’. This day is celebrated to commemorate the end of slavery in America, due to which the main markets remained closed. However, this morning there is a slight uptick and rise in Dow Futures, which has strengthened the global sentiment.
US-Iran peace talks bring enthusiasm back to Asian markets, Nikkei rises 1.75%
All-round greenery is being seen in Asian markets on Monday. The biggest reason behind this is the news of positive progress in the ongoing peace talks between America and Iran, which has currently reduced the concerns of war:
-
Japan and Korea: Japan’s main index Nikkei 225 is trading with a huge gain of 1.75%, while Topix is up by 1.17%. South Korea’s Kospi also remained in the green zone by rising 1.54%, although Kosdaq saw a slight decline of 0.57%.
-
Gift Nifty’s charm: Gift Nifty was trading around a strong level of 24,154 in the morning. This shows a huge premium of about 97 points over the previous closing level of Nifty futures, setting the stage for an excellent opening for the Indian indices.
-
Other indexes: In contrast, Hong Kong’s Hang Seng index futures are showing some signs of weakness. At the same time, MSCI’s largest index of Asia-Pacific shares outside Japan has slipped 0.4% today.
Shadow of interest rates on Wall Street futures, roadmap for the first round of US-Iran talks successful
On one hand, while Asian markets are swinging, on the other hand, there is a slight slowdown in American stock futures. Investors’ eyes are on technical aspects of US-Iran peace talks, but US stock futures fell due to fears of future interest rate hikes. S&P 500 futures fell 0.5%, Nasdaq futures fell 0.7% and Dow Jones Industrial Average futures fell 0.4%.
It is a matter of relief that there is good news on the diplomatic front. According to Iranian negotiators, talks regarding a peace deal with the US are moving in the right direction, which has ended the fear that the ceasefire process between the two countries will break down. Qatari and Pakistani officials, who are mediating, issued a joint statement confirming that the first session of talks has been successfully concluded and a roadmap to reach a ‘final deal’ within the next 60 days has been fully drawn up.
China did not change loan rates for the 13th consecutive month, Japanese bond yields rose for the third consecutive day
If we look at other big economic news of Asia:
-
China LPR: China’s central bank ‘People’s Bank of China’ (PBOC) has not made any change in its benchmark lending rates (loan rates) even in the month of June to support the country’s sluggish economy. This is the 13th consecutive month that rates have remained stable. The bank has maintained the one-year Loan Prime Rate (LPR) at the old level of 3.00% and the five-year LPR at 3.50%.
-
Japanese Bond Yield: Government bond yields remained on the rise for the third consecutive day amid rising inflation and fiscal concerns in Japan. The benchmark 10-year JGB yield rose 3 basis points to 2.675%.
Crude oil rises due to slow supply in the Strait of Hormuz, yen hits record low due to dollar’s strength
-
Crude Oil: Due to some bitterness in the initial phase of talks between America and Iran, the movement of ships through the strategic sea route ‘Strait of Hormuz’ had slowed down a bit, which was reflected in the prices. In the international market, Brent crude futures rose 0.83% to $ 81.24 per barrel and American West Texas Intermediate (WTI) crude futures rose 2.04% to $ 77.40 per barrel.
-
gold and silver: There has been a spectacular recovery in the bullion market as concerns about inflation and high interest rates have eased in the global market. Gold prices jumped more than 1% from the previous low. Spot gold price rose by 1.2% to $ 4,209.03 an ounce, while spot silver rose by 2.6% to $ 66.60 an ounce.
-
Currency Market (Dollar Index): The initial uncertainty surrounding the peace agreement has strengthened the US dollar as a safe haven investment. Due to this, the British pound fell 0.24% to $1.32055 and the euro declined 0.1% to $1.1462. At the same time, the Japanese Yen continues to weaken and has slipped to the level of 161.53 per dollar, which is very close to its lowest level in the last two years.