Sensex opens flat as Asian markets tumble, FTSE 100 ends with gains

Asian indices dipped in early trade despite a positive US closing as Chinese stocks tumbled

Stuti Mishra
Friday 30 July 2021 05:23
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<p>People wait in line for T-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO </p>

People wait in line for T-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO

The Indian equity indices, Sensex and Nifty, opened flat on Friday after breaking a three-day losing streak in the previous session, as cues from Asian peers remain weak.

Sensex opened 0.2 per cent, or 139 points, higher at 52,792, while the Nifty50 index opened at 15,801, up 22 points, or 0.1 per cent.

Asian indices dipped in early trade despite a positive US closing as Chinese stocks tumbled again, dragged by falling tech shares. Nikkei, Hang Seng & Sout Korea all are trading with cuts of over 1 per cent each while Shaghai Composite recovered some of the losses.

Stocks at Wall Street also ended in green but well off their highest levels on Thursday, after a lacklustre US GDP data and signs of stronger consumer spending. The S&P 500 hits closed near record highs after rising 0.4 per cent, while the Dow Jones Industrial Average gained 0.5 per cent, just below its closing record of 35,144.91. The Nasdaq Composite was up 0.1 per cent.

US real gross domestic product grew at 6.5 per cent annual rate in the second quarter, missing expectations for nearly 8.5 per cent growth while consumer spending topped expectations.

London’s FTSE 100 rose on Thursday helped by positive company earnings and a slew of buybacks and dividends announced rewarding the shareholders as optimism for economic growth returns.

The blue chip index rose 0.9 per cent at 7,078, led by a set of strong earnings and bumper dividends from oil major Royal Dutch Shell, miner Anglo American, pest control company Rentokil Initial, and event firm Informa.

The mid-cap FTSE 250 also closed up, building on its recent record highs, adding around 44 points, or 0.2 per cent, to 23,050. European indices also closed near record highs as STOXX 600 closes 0.5 per cent up.

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