3 July 2024 Punjab Khabarnama : The US markets rallied to new highs on July 3, extending their gains from the previous session. ADP data released this morning showed weaker-than-expected private payroll growth in June. Unemployment benefits claims also increased in the last week, hinting at easing labour market conditions. The initial claims rose by 4,000 for the week ended June 29. Investors now await June’s nonfarm payroll report, which will be released this Friday.
At 9:30pm IST, the S&P 500 hit a fresh all-time high of 5,525.65 and the Nasdaq Composite edged around 0.70 percent higher to a new high of 18,56.48. However, the Dow Jones Industrial Average fell 0.19 percent to 39,255.74.
The GIFT Nifty edged 0.29 percent higher to 24,457 after the bullish performance of the Indian indices earlier during the day.
Indian indices extended their rally for another day, serving as leading indicators of macro stability and future growth in the economy. Nifty created a fresh high of 24,309.15 and ended 0.67 percent higher at 24,286.50. Sensex also rallied to a new high of 80,074.30 and ended 0.69 percent higher at 79,986.80.
DIIs net sold Rs 924.43 crores while the FIIs/FPIs broke their selling streak and massively net bought Rs 5,483.63 crores.
The European markets recovered from previous day’s losses and traded higher on Wednesday. The FTSE rose 0.61 percent to 8,171.12 and the DAX rallied over a percent higher to 18,379.94. CAC was also up 1.24 percent at 7,632.08.
Earlier during the day, the Asian indices surged owing to strong global cues. The Nikkei jumped 1.26 percent higher to 40,580.76 and the Hang Seng was up 1.18 percent at 17,978.57.
Crude rose for a second day in a row, up 0.10 percent at $82.89. Brent also traded 0.10 percent higher at $86.33.
