Stock Market Live updates on Thursday, July 25, 2024: The benchmarks Sensex, Nifty are staring at a gap-down start on Thursday, tracking massive sell off in global peers.
The GIFT Nifty futures painted a gloomy picture for the Indian bourses, as they quoted 205 points lower to Nifty50 futures at 24,183 levels.
Markets in Asia-Pacific saw a major sell-off on Thursday, following heavy losses on Wall Street, where the S&P 500 and Nasdaq Composite recorded their steepest decline since 2022.
The broad market index S&P 500 fell by 2.31 per cent, while the tech-heavy Nasdaq bleeded 3.64 per cent. The Dow Jones Industrial Average also retreated, losing 1.25 per cent.
The sell-off on Wall Street was led by offloading of tech shares, with Nvidia and Meta Platforms seeing declines of 6.8 per cent and 5.6 per cent, respectively. Shares of Alphabet, Google’s parent company, fell by 5 per cent.
Meanwhile, Tesla shares also saw a major decline of 12.3 per cent, driven by weaker-than-expected earnings.
In Asia, apart from a major sell-off on Wall Street, investors are also assessing South Korea’s GDP numbers, which grew by 2.3 per cent than the expectation of 2.5 per cent by economists.
Japan’s Nikkei 225 fell by 2.72 per cent and the broader based Topix index slipped by 2.39 per cent.
South Korea’s Kospi index was down by 1.77 per cent, while the Kosdaq, which focuses on small-cap stocks, edged down by 2.41 per cent.
Australia’s S&P/ASX 200 was down 0.94 per cent. Hong Kong’s Hang Seng index, too, traded in red and slumped by 0.39 per cent.