Benchmark Indian equity indices, BSE Sensex and Nifty 50, opened lower on Monday.
Benchmark Indian equity indices, the BSE Sensex and the Nifty 50, edged lower in the pre-open on Monday following the Reserve Bank of India’s decision to cut the country’s FY25 GDP growth forecast while raising its inflation forecast for the fiscal year.
At the pre-open, the BSE Sensex was down 106 points or 0.13% at 81,602, while the Nifty 50 was down 43.90 points or 0.18% at 24,633.
Global markets
South Korean stocks fell more than 1% on Monday amid political uncertainty, following President Eun Suk Yeol’s narrow escape from impeachment after briefly imposing martial law last week.
The decline came despite a generally positive day for Asian markets, boosted by another record on Wall Street. Traders were also looking forward to a high-level economic meeting in China and monitoring developments in Syria following the ouster of President Bashar al-Assad.
Japan’s Nikkei 225 rose 0.15%, while the Topix index gained 0.2%. Japan’s third-quarter GDP growth was revised up to 0.3% quarter-on-quarter, beating the previous estimate of 0.2% and beating expectations in a Reuters poll, which had forecast no change.
Hong Kong’s Hang Seng index fell 0.28%, while mainland China’s CSI 300 index rose 0.2%. China’s consumer price growth was weaker than expected in November, rising just 0.2% year-on-year, down from a 0.3% increase in October. Economists had forecast 0.5% growth.
In the US, the Nasdaq and S&P 500 hit record closing highs on Friday. The Dow Jones Industrial Average closed down 123.19 points, or 0.28%, at 44,642.52. Meanwhile, the S&P 500 rose 15.16 points, or 0.25%, to 6,090.27 and the Nasdaq Composite rose 159.05 points, or 0.81%, to 19,859.77. The US dollar index was little changed at 105.78.
Treasuries rallied after the data was released on Friday. The two-year note yield fell 5.5 basis points to 4.092%, while the benchmark 10-year yield fell 4 basis points to 4.141%.
European shares rose 0.3%, while the UK’s FTSE 100 ended flat.