Asian markets open in red after record US closing, FTSE 100 flat

Asian markets open in red after record US closing, FTSE 100 flat
Positive US jobs report provide the boost to Wall Street indices on Friday

Indian stock markets opened flat on Monday following Asian peers, however, both Sensex and Nifty were in the green.

The Sensex opened 0.2 per cent, or 108 points higher at 54,385, while the Nifty50 index opened at 16,281, up 43 points, or 0.3 per cent.

Asian markets are mixed in Monday morning trade as US stock futures remain flat in overnight trading on Sunday. Hong Kong’s Hang Seng, South Korea’s Kospi and Shanghai Composite opened in the red but inched higher after early hours. Japan’s stock exchange remained closed on account of a national holiday.

Two of the three leading indices on Wall Street ended on record highs on Friday as shares in economy-linked sectors jumped following a solid rise in jobs in July, helping allay fears of the Delta variant impacting a nascent economic recovery.

Dow Jones Industrial Average rose 144 points, or 0.4 per cent, to close at an all-time high of 35,208. The S&P 500 rose almost 0.2 per cent, another index to reach a record closing of 4,436.52. The Nasdaq Composite, however, declined 0.4 per cent to 14,835.

London’s FTSE 100 ended the week flat as gold prices pulled mining majors down but upbeat corporate earnings capped losses. The second half of the session was also supported by profits in US peers.

The blue-chip index ended just 2.5 points down, barely in the green, at 7,122. London Stock Exchange’s own share was the biggest gainer on the index, followed by betting company Flutter Entertainment and insurer Prudential. Hikma Pharmaceutical was the bigger loser.

The domestically focussed FTSE 250 ended the session down 0.2 per cent, with precious metals miners sinking 2.3 per cent.


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