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Sensex, Nifty Set To Rally As Oil Prices Plunge On Iran-Israel Ceasefire

RTTNews | 62 days ago

(RTTNews) - Indian shares look set to open sharply higher on Tuesday after U.S. President Donald Trump claimed on social media that Israel and Iran have agreed to a "complete and total ceasefire" to be phased in over 24 hours.

Brent crude futures extended losses in Asian trading after declining 8 percent overnight in the absence of immediate disruption to global oil supply.

West Texas Intermediate (WTI) crude futures for August were down more than 2 percent this morning, falling below $67 a barrel as Iran's token retaliation against a U.S. base removed the immediate threat to the vital Strait of Hormuz shipping lane.

Benchmark indexes Sensex and Nifty fell around 0.6 percent each on Monday amid escalating geopolitical tensions in West Asia.

The rupee weakened to a five-month low, closing at 86.75 against the dollar, down 26 paise from its previous close.

Asian markets were mostly higher, the dollar weakened while gold traded weak near $3,350 per ounce.

U.S. stocks ended with gains overnight as oil prices slumped and Federal Reserve Vice Chair Michelle Bowman said she favored a rate cut "as soon" as July if inflationary pressures remain contained.

President Trump downplayed Iran's missile strike on the Al Udeid Air Base in Qatar. He said 13 of 14 missiles were intercepted and emphasized there were no casualties.

Trump also thanked Iran for giving Washington advance notice of the attack, adding Iran can now proceed to peace and harmony in the region, and he would enthusiastically encourage Israel to do the same.

The Dow and the tech-heavy Nasdaq Composite both climbed around 0.9 percent, while the S&P 500 rallied 1 percent.

European stocks fell modestly on Monday as investors waited for Iran's response to the weekend U.S. air strikes on its nuclear sites.

The pan-European STOXX 600 closed 0.3 percent lower. The German DAX dipped 0.4 percent, France's CAC 40 shed 0.7 percent and the U.K.'s FTSE 100 slid 0.2 percent.

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 24 minutes ago

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 51 minutes ago

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 54 minutes ago

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1h 9min ago

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 1h 11min ago

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | 1h 24min ago

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | 1h 54min ago

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2h 23min ago

EURUSD	1.16449	GBPUSD	1.34752	AUDUSD	0.64826
USDJPY	147.416	USDCAD	1.3849	USDCHF	0.80417