Indian stock markets are closed today, June 26, due to Muharram holiday. But due to recession in global markets, it may open with a decline on Monday. Today South Korean market Kospi is down 8% and Gift Nifty has fallen by more than 150 points. Earlier on Thursday, there was a slight rise in the Indian markets amid volatile trading. Sensex closed at 77,100 with a gain of 109 points (0.14%) and Nifty closed at 24,056 with a gain of 34 points (0.14%). Sensex had fallen 703 points from its day high. Foreign investors sold shares worth more than ₹ 2 thousand crore in 7 days. On June 25, Foreign Institutional Investors (FIIs) made net purchases of ₹ 384 crore from Indian markets. Domestic Institutional Investors (DIIs) have also made net purchases of ₹5,748 crore. If we look at the total figures of this year, FIIs have been net sellers of about ₹3.46 lakh crore so far, while DIIs have made purchases of ₹4.57 lakh crore. Note: Net buying/selling figures of FIIs and DIIs are in crores of rupees. In Asian markets, Kospi fell by 8%, Nikkei also fell by 5%. There has been a sell-off in tech stocks in global markets due to increased concerns about huge expenditure on AI infrastructure. South Korea’s benchmark index Kospi fell as much as 8%. Apart from this, Japan’s Nikkei index has fallen by about 3%. Hong Kong’s Hangseng is also down. Mixed trading in US markets, Apple’s stock fell 6%. Dow Jones may have gained 0.14%, but the tech-heavy Nasdaq Composite closed 0.46% lower. Shares of big companies like tech company Nvidia, Microsoft and Alphabet came down. Apple suffered the most loss, whose shares fell 6%. The company has announced to increase the prices of iPad and MacBook, so that the rising cost of memory and storage chips can be compensated. Due to this fall, Apple’s market value decreased by about 250 billion dollars. Now its market cap is now 4.04 trillion dollars. However, some good signals were also received from the semiconductor sector. Micron Technology’s stock rose 16% after its quarterly results were better than estimates. With this, SanDisk rose by 22%. Companies like Qualcomm, Western Digital and Seagate also remained on the rise. Inflation will reduce due to fall in crude oil prices. Crude oil prices are falling due to the removal of supply related concerns and the movement of tankers through the Strait of Hormuz becoming normal again. Brent crude is down 2% to around $74 a barrel, while WTI crude is trading near $70 a barrel. Despite a slight rise after the attack on a cargo ship near Oman on Thursday, crude oil prices are falling. This reduction in the prices of crude oil will help in reducing inflation in a country like India which imports oil in large quantities. Knowledge Part:
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Indian market may open with a decline on Monday: 150 points weakness in Gifty Nifty; South Korea’s Kospi fell 8%
