Indian Markets Closed For Bakri Id

(RTTNews) - Indian markets remain closed today for Bakri Id celebration across nation.

Benchmark indexes Sensex and Nifty hit fresh record highs on Wednesday before closing up around 0.8 percent each. The rupee slipped 2 paise to settle at 82.04 against the dollar.

Against the backdrop of the allegations made by U.S.-based Hindenburg Research against the Adani Group in late January, the Securities and Exchange Board of India's (SEBI) board on Wednesday announced tighter disclosure norms for foreign portfolio investors to prevent possible circumvention of minimum public shareholding rules or possible misuse of the FPI investment route.

Asian stocks traded mixed this morning, with Chinese and Hong Kong markets declining on concerns about China's uneven economic recovery. Markets in Singapore, Indonesia and Malaysia are shut for holidays.

The U.S. dollar hovered near a 7-1/2-month high against the Japanese yen and gold prices lingered near mid-March lows while oil prices eased after rising sharply in the U.S. trading session overnight on data showing a sharp drop in U.S. crude stockpiles in the week ended June 23rd.

U.S. stocks ended a choppy session mixed overnight after Fed Chair Jerome Powell and heads of other top central banks signaled further policy tightening to tame stubbornly high inflation.

Powell indicated that interest rates will stay high and raising rates at consecutive meetings is not off the table.

The S&P 500 finished marginally lower and the Dow slid 0.2 percent while the tech-heavy Nasdaq Composite edged up 0.3 percent.

European stocks closed higher on Wednesday as strong U.S. economic data pointed to a resilient economy.

The pan European STOXX 600 advanced 0.7 percent. The German DAX rose 0.6 percent, France's CAC 40 climbed 1 percent and the U.K.'s FTSE 100 added half a percent.