Stock Market Updates: The Indian stock market is seeing a surge today. Yesterday, on Monday, both the Sensex and Nifty saw a significant decline, resulting in losses worth crores of rupees for investors.
The stock market is back in the green, with both Sensex and Nifty rising.
Share Market Today on June 9: After yesterday's sharp decline, the Indian stock market witnessed a remarkable recovery on Tuesday, the second trading day of the week. The BSE's 30-share sensitive index, the Sensex, jumped 511 points to open at 74,035. Meanwhile, the NSE Nifty rose 136 points to open at 23,259.
Reasons for the market to recover today
Rise in global markets – Buying of tech stocks in US markets and rise in Asian markets, especially South Korea's Kospi, have improved the sentiment of domestic investors.
Crude Oil Prices Soften - Crude oil prices eased slightly today due to the temporary halt in air strikes in West Asia (Iran and Israel). This brought some relief to the Indian market.
There was a big drop on Monday.
The Indian stock market experienced a significant decline on Monday. The Sensex slipped 719 points to close at 73,524. Similarly, the Nifty fell 244 points to close at 23,123. The widespread selling yesterday reduced the market capitalization of BSE-listed companies by ₹7 lakh crore.
Asian markets
Asian markets are seeing a strong recovery today after yesterday's sharp decline. Following easing tensions in West Asia (Iran and Israel) and strong signals from the US market, Asian markets broke their three-day losing streak.
After a historic decline of more than 8% yesterday, South Korea's Kospi index is trading at 7766, with a strong gain of 3.77-4.4%. Japan's Nikkei, after losing 4% yesterday, is trading at 64514.70, up 0.83% today. However, unlike other Asian markets, Hong Kong's Hang Seng is under pressure, with a slight decline of 0.45%.
American market
US stock markets closed higher on Monday. Chip company shares recovered after Friday's sharp decline. The S&P 500 index rose 0.30% to close at 7405.73. The tech-heavy Nasdaq gained 0.86% to close at 25929.66. The Dow Jones Industrial Average fell 80.77 points, or 0.16%, to close at 50,786.01.
crude oil
West Texas Intermediate (WTI) crude oil futures fell 0.39% to $90.94 per barrel. Meanwhile, Brent crude oil futures for August delivery were trading down 0.25% at $94.01 this morning. COMEX crude oil prices were trading down 0.39% at $90.940 per barrel.
US Dollar
The US Dollar Index (DXY) fell 0.03% to trade at 100.04 today. This index measures the strength or weakness of the US dollar against a basket of major currencies. This basket includes currencies such as the British pound, euro, Swedish krona, Japanese yen, and Swiss franc. On June 8, the rupee fell 0.79% to close at 95.71 against the dollar.
