Global shares rally as US Treasury yields, dollar slip

Post author:whitecruisebusiness
Post published:November 21, 2023
Post category:Business
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Stock market updates on November 21, 2023: Frontline indices are likely to kick-off Tuesday’s trading session on a positive note tracking cues from the global peers.

At 07:00 AM, Gift Nifty futures quoted at 19,800, indicating a likely gap-up of 50-odd points on the NSE benchmark Nifty50.

A notable dip in US Treasury yields coupled with a strong rally in Microsoft shares, after the latter hired ousted OpenAI CEO Sam Altman helped the US indices log strong gains. Dow Jones gained 204 points and was less than 1 per cent from its record closing. Nasdaq soared over 1 per cent and the S&P 500 ended 0.7 per cent higher.

Further, the US dollar dropped to its lowest level in more than two months, while the 10-year yield slipped to 4.415. Later tonight, Nvidia’s earnings and the US FOMC minutes shall guide the trading action in the US.

Nearer home this morning in Asia, Hong Kong’s Hang Seng rallied 1.3 per cent. Kospi and Taiwan gained nearly 1 per cent each. China’s Shanghai indices were up 0.5 per cent. Japan’s Nikkei, however, was down 0.2 per cent.

Among individual stocks, shares of Jio Financial Services will be in focus as the company aims to raise Rs 5,000 – Rs 10,000 crore via its maiden bond sale.

Among commodities, Brent Crude Oil futures were seen quoting around $82 per barrel.

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