Stock Market LIVE Updates, Monday, September 2, 2024: Indian benchmark indices BSE Sensex and Nifty 50 started on a positive note on Monday.
At pre-open, the BSE Sensex was at 82,725.28, up 359.51 points, or 0.44 per cent, while the Nifty 50 was at 25,333.60, gaining
97.70 points, or 0.39 per cent.
Elsewhere, Asia-Pacific markets opened on a mixed note on Monday as investors focus on a packed week of economic data and assess China’s business activity figures released over the weekend.
Among the economic data coming out from major markets in the region are inflation data from South Korea, Australia’s second-quarter GDP data, as well as data on pay and household spending from Japan later this week.
China released its official purchasing managers’ index data for August. The manufacturing PMI fell to a six month low of 49.1, a faster contraction compared to the 49.4 seen in July.
The figure also missed the median forecast of 49.5 from economists polled by Reuters, with the index marking its fourth straight month in contraction territory.
On the other hand, China’s non-manufacturing PMI climbed to 50.3, up from July’s 50.2.
Japan’s Nikkei 225 was up 0.94 per cent, crossing the 39,000 mark for the first time since July 31, while the broad based Topix was 0.49 per cent higher.
In contrast, South Korea’s Kospi lost 0.49 per cent, while the small cap Kosdaq was marginally lower.
Australia’s S&P/ASX 200 slipped 0.43 per cent, and Hong Kong’s Hang Seng index futures sat at 17,785, lower than the HSI’s last close of 17,989.07.
Oil prices fell. Brent crude futures for October delivery, which expired on Friday, settled 1.43 per cent at $78.80 a barrel, marking a decline of 0.3 per cent for the week and 2.4 per cent for the month.
US West Texas Intermediate crude futures settled down 3.11 per cent to $73.55.
Gold prices weakened. Spot gold lost 0.74 per cent to $2,502.44 an ounce. US gold futures settled 1.3 per cent lower at $2,527.6.
On Friday, the Dow Jones Industrial Average had finished up 0.55 per cent to 41,563.08. Benchmark S&P 500 gained 1.01 per cent to end at 5,648.40 and the Nasdaq Composite gained 1.13 per cent to close at 17,713.62.
