Stock Market Today: All You Need To Know Before Going Into Trade On July 4

Asia-Pacific markets rose on Thursday mirroring similar overnight moves on the Wall Street as US economic data and Federal Reserve’s June policy meeting minutes supported traders’ rate cuts hopes.

The Nikkei 225 was trading 115.84 points or 0.29% higher at 40,696.60, and the S&P ASX 200 was trading 73.60 points or 0.95% higher at 7,813.50 as of 06:54 a.m.

US stocks rose on Wednesday in a truncated session ahead of holiday with the Nasdaq composite scaling a fresh high. The Nasdaq Composite settled 0.88% higher. The S&P 500 ended 0.51% higher, while Dow Jones Industrial Average closed 0.06% lower.

Brent crude was trading 0.50% lower at $86.99 a barrel. Gold rose 0.22% to $2,361.43 an ounce.

The GIFT Nifty was trading 15.5 points or 0.06% higher at 24,459.00 as of 06:58 a.m.

Indian benchmarks settled at fresh closing highs on Wednesday, tracking sharp gains in heavyweight HDFC Bank Ltd. and ICICI Bank Ltd.

The NSE Nifty 50 settled 162.65 points, or 0.67%, higher at 24,286.50, and the S&P BSE Sensex ended 545.34 points, or 0.69%, up at 79,986.80.

Overseas investors turned net buyers on Wednesday after three days of selling. Foreign portfolio investors mopped up stocks worth Rs 5,483.6 crore, while domestic institutional investors turned net sellers after three sessions and offloaded equities worth Rs 924.4 crore, according to provisional data from the National Stock Exchange.

The Indian currency weakened 3 paise to close at Rs 83.53 against the US dollar.