Stock Market Today: All You Need To Know Before Going Into Trade On Aug. 21

Indices in Asia opened lower on Wednesday, tracked the decline in S&P 500 and Nasdaq Composite’s after an eight-day winning streak. Japan’s Nikkei was 0.9% lower, Australia’s ASX 200 fell 0.50%, while South Korea’s Kospi traded flat.

US stocks faced challenges in gaining further ground after a vigorous rally brought the market close to its all-time highs.

On Tuesday, a decline in equities broke what would have been the S&P 500’s ninth consecutive session of gains, its longest winning streak in two decades. This drop marked a sharp reversal from the negative momentum observed during the panic selling of early August.

The S&P 500 closed 0.20% lower at at 5,597.12, Dow Jones fell 0.15% to close at 40,834.97 and Nasdaq Composite ended at 17,816.94, down 0.33%.

At 6:32 a.m., gold was trading flat at $2,514.2 an ounce and brent crude was down 0.06% at $77.6 per barrel.

The GIFT Nifty was flat at 24,707.50 as of 6:28 a.m.

The NSE Nifty 50 extended its gains for a fourth consecutive session and the S&P BSE Sensex continued its rally after a one-day blip to record their highest closing since Aug. 2, as shares of finance and IT companies led the gains. The Nifty ended 126.20 points or 0.51%, higher at 24,698.85 and the Sensex was 378.18 points or 0.47%, up at 80,802.86.

Overseas investors stayed net sellers of Indian equities on Tuesday for the second consecutive day. Foreign portfolio investors offloaded stocks worth approximately Rs 1,458 crore, while domestic investors stayed net buyers for the 12th successive session and bought equities worth Rs 2,252.1 crore, according to provisional data from the National Stock Exchange.

The Indian currency strengthened by 8 paise to close at 83.79 against the US dollar.