Stock Market Today: All You Need To Know Going Into Trade On June 27

Asia-Pacific markets fell on Thursday, taking cues from caution on the Wall Street ahead of US GDP data for January-March quarter, scheduled for releases later on Thursday.

The Nikkei 225 was trading 400.56 points or 1.01% lower at 39,266.51 as of 06:43 a.m. The Japanese yen slumped to160.9 against the US dollar, marking the lowest level since 1986, Bloomberg reported. This fuelled bets among traders that Japan’s authority may step in to safeguard the currency.

The KOSPI and S&P ASX 200 were trading 0.81% and 1.30% lower, respectively as of 06:46 a.m.

US stocks faced challenges in the last phase of a successful quarter, where a select few high-performing technology stocks dominated. All large-cap companies, excluding Nvidia Corp., experienced an increase in their stock prices as the major chipmaker conducted its yearly shareholder meeting.

The S&P 500 and Nasdaq Composite settled 0.16% and 0.49% higher, respectively on Wednesday. The Dow Jones Industrial Average rose 0.04% higher.

Spot gold rose 0.01% to $2,298.35 per ounce. Brent crude traded 0.27% higher. The August contract of Brent crude on Intercontinental Exchange was 0.41% lower at $84.90.

The GIFT Nifty was trading 5 points or 0.02% lower at 23,795.00 as of 06:53 a.m.

India’s benchmark equity indices extended their record run for the second consecutive day on Wednesday, ahead of the expiry of their monthly derivative contracts. The Nifty Bank, whose monthly contracts also expired in the day, recorded its highest close as well.

The NSE Nifty 50 closed 147.50 points, or 0.62%, higher at 23,868.80 points, while the S&P BSE Sensex ended 620.73 points up, or 0.8%, at 78,674.25.

Overseas investors turned net sellers on Wednesday after a day of buying. Foreign portfolio investors offloaded stocks worth Rs 3,535.4 crore, while domestic institutional investors turned net buyers after two sessions of selling and mopped up equities worth Rs 5,103.7 crore, the NSE data showed.

The Indian rupee weakened 14 paise to close at 83.57 against the US dollar.