European stocks are waiting for economic indicators
While waiting for the ECB meeting, the main European indices point to a new day with hardly any changes. The market moves similar to the previous European sessions.
Shares remain at unusually low levels, and that gives continuity to what was seen in the Asian session today. The selectives in the region registered a mixed cut day without major changes.
The Stoxx600, the benchmark for Europe, is declining slightly by 0.4%. The most significant falls are being registered by listed companies linked to the mining and insurance sectors.
After news that the US will ease restrictions on travel to countries like France or Germany, the tourism and leisure sectors are leading the gains.
Analysts expect the market to be calm today amid expectations for tomorrow’s US data and the ECB meeting. These economic indicators are likely to send a message to reassure markets that inflation is temporary and that stimuli will remain.
Sell-off in the Indian Stock Market
There is a broad sell-off in the Indian stock market. The Sensex is down about 150 points, while the Nifty has dropped below 15,700.
All sector indices declined on Nifty. The auto sector has experienced the most significant losses of 1.5%. Power Grid, NTPC, HCL Tech, Asian Paint, Infosys are trying to support the benchmark. Meanwhile, RIL, ICICI Bank, L&T, Axis Bank, and Bajaj Finance are under selling pressure.
The beginning of the stock market was strong on the third trading day of the week. Sensex started with a gain of 126 points while Nifty added 26 points. Out of the 14 companies involved in BSE Power Sector, ten companies have seen increases in their shares. Adani Power’s stock raised by 9.22%.
Indian stock market closed with losses yesterday. The Sensex was down by 53 points, and Nifty settled with a drop of 11 points.
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