New Delhi. There are signs of weakness from the global market today. US markets had closed with a big fall during the last session.
Today Dow Jones Futures is also seen trading in the red under heavy selling pressure. The European market witnessed a mixed trend during the last session, where the indices kept fluctuating.
Amidst this weakness in the global market, there is an outcry in the Asian markets since this morning. Most of the major markets of Asia have registered a decline.
However, amidst these all-round negative signals, the initial signs for the Indian market seem to be providing relief.
There was a huge decline in the American market during the last session. After the Democrats took control of the US Congress, investors became nervous due to the fear of imposing strict rules regarding Artificial Intelligence (AI), due to which huge selling was seen in the shares of chip making companies.
Due to this pressure, the Nasdaq Composite recorded its biggest one-day decline in the last 19 months. In Thursday’s session, Nasdaq Composite closed at 24,315 points with a huge weakness of 1,421.51 points or 5.52 percent.
Similarly, the S&P 500 index also registered a huge decline of 334.89 points or 4.36 percent and ended the last session’s trading at the level of 7,353.73 points.
Along with this, Dow Jones Industrial Average also closed at the level of 51,523.06 points with a weakness of 3.44 percent. At the same time, Dow Jones Futures is currently seen trading in the red at the level of 51,048.60 points, falling by 474.46 points or 0.92 percent.
Amidst the uproar in the American market, mixed trading was seen in the European market during the last session. Germany’s DAX index closed at 26,325.01 points with a weakness of 112.66 points or 0.43 percent.
Similarly, Britain’s FTSE index also ended the last session’s trading at the level of 10,782.66 points, showing a decline of 46.55 points or 0.43 percent.
In contrast, France’s CAC index managed to overcome this selling pressure and closed at 8,205.37 points, registering a gain of 27.48 points or 0.33 percent.
Amidst these negative signals from the global market, an all-round selling trend is seen in the Asian market this morning.
The indices of eight out of the nine major markets of Asia have fallen heavily and have reached the red mark, while only the GIFT Nifty, which gives initial indications for the Indian market, is showing an increase.
Despite this big blow of global recession, GIFT Nifty seems to be standing strong this morning. At present, this index is trading at the level of 24,653 points showing a gain of 53.50 points or 0.22 percent, which is a good sign for the domestic market.
On the other hand, the Japanese stock market is witnessing a huge decline since this morning, where the Nikkei 225 index has fallen to the level of 57,190 points with a huge decline of 3,887.90 points or 6.37 percent.
There is also a big decline in Kospi index of South Korea today, where due to all-round selling pressure, this index has currently slipped to the level of 5,077.85 points with a tremendous weakness of 305.95 points i.e. 5.68 percent.
Similarly, there is tremendous pressure on Taiwan Stock Exchange today. Due to this pressure, the Taiwan Weighted Index has fallen by 2,015.08 points or 4.85 percent to the level of 39,559.64 points.
Even in the Indonesian market today, sellers seem to be completely dominating, due to which the Jakarta Composite Index is trading at the level of 4,933.28 points with a decline of 96.98 points or 1.93 percent.
China’s Shanghai Composite Index has also slipped into the red today and currently this index remains at the level of 3,647.90 points with a weakness of 42.01 points or 1.14 percent.
Today, a sluggish trend prevails in the Hong Kong stock market, where the Hang Seng Index has currently fallen by 274.98 points or 1.12 percent to the level of 24,522 points.
Apart from this, Thailand’s Set Composite Index is trading at the level of 1,481.11 points with a decline of 16.88 points or 1.13 percent, while Singapore’s Straits Times Index is also at the level of 5,172.26 points showing a nominal slowdown of 7.20 points or 0.14 percent amid mild pressure.