Stock Market Today: All You Need To Know Before Going Into Trade On Aug. 29

Asian indices were lower at open tracking the fall in US indices. Japan’s Nikkei traded 0.4% lower at 7:01 a.m., when South Korea’s Kospi and Australia’s ASX 200 were trading 0.84% and 0.47% down respectively.

US stocks declined on Wednesday ahead of Nvidia Corp.’s eagerly awaited earnings report, with Nasdaq falling 1% as the tech company stocks fell 2%. Investors are anxious to see if the chipmaker can meet the exceptionally high expectations set for its artificial intelligence technology, which has been described as a once-in-a-lifetime opportunity.

S&P 500 and Nasdaq Composite fell 0.60% and 1.12%, respectively to close at 5,577.25 and 41,091.42. Dow Jones Industrial Average was down 0.39% at 41,091.42 at close.

Brent crude was trading 0.13% higher at $78.75 a barrel as of 6:55 a.m when gold Gold was 0.33% up to $2,512.95 an ounce.

GIFT Nifty was 0.14% higher at 25,014.00 as of 6:52 a.m.

The Indian benchmark equity indices continued their uptrend on Wednesday, with the NSE Nifty 50 recording its best gaining streak since October 2020 to close at its lifetime high and the S&P BSE Sensex extending gains for the seventh consecutive session.

The Nifty closed 34.6 points or 0.14%, higher at 25,052.35 and the Sensex ended 73.80 points or 0.09%, higher at 81,785.56.

Overseas investors turned net sellers of Indian equities on Wednesday after being buyers for four straight sessions. Foreign portfolio investors offloaded stocks worth Rs 1,347.5 crore while domestic investors turned net buyers after selling for a day and bought equities worth Rs 439.4 crore, according to provisional data from the National Stock Exchange.

The Indian currency weakened by 4 paise to close at 83.96 against the US dollar.