Stock Market LIVE: Asia recovers on US Fed rate cuts; Hang Seng rises 1%

LIVE Stock Market Updates Today, Friday, July 26, 2024: GIFT Nifty predicts a flat to positive start for Indian equity markets today, July 26. At 7:40 am, GIFT Nifty futures were trading 29 points higher at 24,491 levels.

Steady trading in Asia is expected to provide support, with Australia’s ASX200 and South Korea’s Kospi indices each trading 0.87 percent higher this morning.

Furthermore, Hong Kong’s Hang Seng rose 1.14 percent and Japan’s Nikkei rose 0.19 percent in morning trading on Friday.

Overnight, the S&P 500 fell 0.51 percent on Wall Street, while the Nasdaq fell 0.93 percent. The Russell 2000, on the other hand, rose 1.26 percent as investors continued their rotation from tech stocks to small caps.

The Dow Jones Industrial Average outperformed major benchmarks, rising 0.2 percent amid higher-than-expected second-quarter GDP growth. Data showed the U.S. economy grew 2.8 percent in the quarter.

On the other hand, the US Fed’s rate cuts by investors, the first quarter results of fiscal year 2025 and the activities of foreign financial institutions in their own country will determine the markets today.

Sanstar IPO Listing Today

Shares of Sanstar Ltd, a leading Indian manufacturer of corn-based specialties, are set to debut on the NSE and BSE today. Prior to the listing, the grey market premium of the unlisted shares was Rs 30 before the IPO. This translated into a listing gain of around 32 per cent over the issue price of Rs 95.

Q1FY25 Results Today, July 26, 2024: