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Global signals are looking good. Asian markets have risen by 2%. GIFT Nifty is also strong by 70 points. Dow futures are also providing support. However, mild profit booking was seen in the US markets from the record highs. US markets have slipped from the record highs. Utilities and tech stocks have outperformed. Yesterday, Chinese companies' stocks saw pressure. The market is expecting a bigger relief package from China.
The market is waiting for the Q3 results of companies. It is also expecting a 0.75% reduction in rates in the US. The number of home loan borrowers in the US has increased till September 20. Home loan applications in the US increased by 11% in a week. The number of home loan applications has increased after June 2022.
Pressure on crude increased.
There was a sharp fall in crude oil due to the easing of tensions in Libya. Brent has slipped 3% to close to $73. WTI is also trading below $70. Pressure has built up due to improved supply in Libya. The Libyan government has been formed between the opposition. Efforts are on for a ceasefire between Israel and Lebanon.
Asian Markets
Meanwhile, mixed trading is being seen in the Asian markets today. GIFT NIFTY is showing a gain of 74.50 points. At the same time, Nthe ikkei is seen around 38,812.94 with a gain of about 2.49 percent. At the same time, Strait Times is showing a gain of 0.56 percent. Taiwan market is trading at 22,883.98, up 0.74 percent. While Hang Seng is seen at 19,432.52 with a gain of 1.59 percent. At the same time, an increase of 2.07 percent is being seen in KOSPI. While Shanghai Composite is seen at 2,919.01 with a gain of 0.78 percent.
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