Stock Market Today: All You Need To Know Going Into Trade On March 22

Japan’s benchmark index Nikkei 225 index hit a fresh high on Friday as data showed inflation in the region rose past the Bank of Japan’s inflation target of 2% in February.

The Nikkei 225 was trading 0.40% higher at 40,978.26 as of 06:32 a.m. It rose to all-time high of 41,087.75.

Japan’s headline consumer price rose to 2.8% on year in February, from 2.2% in January, Bloomberg reported.

Other markets in Asia-Pacific region were trading on a mixed note as investors assessed Federal Reserve’s policy outcome. The S&P ASX 200 was 0.30% down, and the KOSPI index was 0.22% higher as of 06:34 a.m.

The relentless rally in U.S. stocks powered ahead on optimism that the Fed will be able to engineer a soft landing, which would bolster the outlook for corporate earnings, according to Bloomberg.

The S&P 500 Index touched a fresh high on Thursday and settled 0.32% higher. The Nasdaq Composite and Dow Jones Industrial Average settled 0.20% and 0.68% higher respectively.

Brent crude was trading 0.19% lower at $85.59 a barrel. Gold was higher by 0.18% at $2,185.27 an ounce.

The GIFT Nifty was trading 35 points or 0.16% higher at 22,077.00 as of 06:35 a.m.

India’s benchmark equity indices gained for the second day, with financial services stocks contributing the most to advances following the U.S. Federal Reserve’s decision to keep interest rates unchanged.

The NSE Nifty 50 ended 172.85 points, or 0.79%, higher at 22,011.95, while the S&P BSE Sensex was up 590.60 points, or 0.82%, at 72,692.29.

Overseas investors remained net sellers of Indian equities on Thursday.

Foreign portfolio investors offloaded stocks worth Rs 1,826.9 crore and domestic institutional investors remained net buyers, mopping up equities worth Rs 3,208.9 crore, the NSE data showed.

The Indian rupee strengthened by 2 paise to close at 83.15 against the U.S. dollar.