The Indian equity benchmarks were trading with muted gains on Thursday with weakness in banking and financial stocks.
The Sensex declined as much as 90 points to hit an intraday low of 55,854 earlier and is now 130 points up. Nifty 50 index is above 16,600.
Meanwhile, Asian shares stepped back on Thursday despite a positive ending at Wall Street as concerns of rising cases of Delta variant spooked investors. Both Chinese and Hong Kong markets were deep in the red while the Japanese market traded flat.
Wall Street stocks rose while the US dollar slipped on Wednesday, with investors more optimistic a day after the House of Representatives passed the $3.5 trillion budget framework and a top health official expressed confidence in fighting Covid-19.
The benchmark S&P 500 and the Nasdaq Composite closed at all-time record highs, while the Dow Jones Industrial Average made gains led by financials, industrials, communications and the consumer discretionary sector. It was the S&P 500’s 51st record-high close this year.
London’s FTSE 100 rose on Wednesday, lifted by gains in financial and travel-related stocks, while investors assessed risks from rising Covid-19 infections globally and easing economic growth.
The blue-chip FTSE 100 ended 0.3 per cent higher, rising for a fourth straight session, with HSBC Holdings, Lloyd’s Group, Flutter Entertainment, Standard Chartered and Ocado Group among the top performers.
Additional reporting by wires
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