Sensex down 250 points as Asian stocks trade mixed, FTSE 100 notches solid gains

Oil stocks in Europe and the US saw a recovery after yesterday’s fall

FTSE 100 finally secures substantial gain to close at the highest levels of over a month (PA Wire)

Indian indices witnessed a heavy sell-off on Wednesday after a positive opening amid mixed cues. Sensex retreated 165 points to trade at 54,390 levels while the Nifty50 gave up 16,250 levels.

Asian markets saw a subdued start on Wednesday morning as investors await US inflation data. Japan’s Nikkei opened in green and continues to trade higher, while Hang Seng and Shanghai Composite started in red but recovered their losses later.

Two of the three leading indices at Wall Street edged higher on Tuesday with a rebound in oil stocks while weakness in tech stocks dragged Nasdaq down. Investors’ eyes were also set on the passing of a massive $1 trillion infrastructure bill, which the Democrat-controlled Senate later passed with 69-30 votes.

At the close in NYSE, the Dow Jones Industrial Average gained almost 0.5 per cent, hitting a fresh record high, while the S&P 500 index gained 0.1 per cent. The tech heavy Nasdaq Composite index lost half a per cent.

London’s FTSE 100 notched solid gains on Tuesday ending a streak of flat sessions, helped by a recovery in energy stocks, while the midcap index receives support from improvement in British consumer spending.

The blue-chip FTSE 100 ended 28 points or 0.4 per cent higher at 7,1761, the highest levels in over a month. The biggest gainer on the index was betting firm Flutter Entertainment, surging over 7 per cent.

The domestically focused FTSE 250 also gained half a per cent, at a record high of 23,572.