By Admin 
- Indian stock market Sensex-Nifty opened fast today.
- America-Iran peace, market strengthened by foreign investors.
- Asian markets cautious, US stocks strong, crude oil rises.
Share Market Today on June 16: The stock market is still seeing a boom even today. In early trading, BSE’s 30-share index Sensex managed to jump 262 points and open at the level of 76526. At the same time, NSE’s Nifty opened at 23924 with a gain of 70 points.
3 big reasons for market boom
- The peace agreement between America and Iran has had an impact on global markets. There is enthusiasm among investors. In this sequence, Japan’s Nikkei index has succeeded in crossing the historical level of 70000 for the first time.
- The market is also seeing a boom due to the approval given by the Reserve Bank of India (RBI) to foreign individual investors to directly buy Indian shares in the Indian stock market.
- After relaxation in tax rules, foreign investors have invested $ 1.84 billion in Indian bonds in June, which is the highest in the last 16 months. Under this, the government has completely abolished long-term and short-term capital gains tax for foreign investors investing in bonds. Besides, withholding tax on interest income has also been completely removed.
Asian market
Today, on Tuesday, June 16, after the peace agreement between Iran and America, Asia opened with a cautious attitude. After a historic gain of 4% yesterday, today Japan’s Nikkei index is trading with a slight decline around the level of 69227. Investors are cautious about the possibility of the Bank of Japan increasing interest rates by 25 basis points today. Meanwhile, South Korea’s Kospi opened with a spectacular rise of 2.01%. Hong Kong’s Hang Seng index futures were trading at 24799, which is lower than the index’s previous closing of 24842.67.
American stock market
Iran and America have reached a ceasefire agreement – After this announcement by US President Donald Trump, there was a slight movement in the futures of the American benchmark on Tuesday. S&P 500 futures were down 0.1%, Nasdaq 100 futures were down about 0.2%. Dow-related futures were down 30 points, or less than 0.1%.
On Monday, the Dow Jones Industrial Average rose 468.77 points, or 0.92%, to close at a record high of 51,671.03. S&P 500 also closed at 7554.29 with a rise of 1.65%. Similarly, Nasdaq Composite jumped 3.07% and closed at 26683.94. The 20% rise in SpaceX shares had a major contribution in this.
price of crude oil
West Texas Intermediate (WTI) crude futures were seen trading 0.62% higher at $ 81.25 per barrel. At the same time, Brent crude futures for August delivery were trading at $ 83.59 with a gain of 0.5% this morning, which is still below the important psychological level of $ 85. Crude prices on COMEX were trading 0.66% higher at $ 81.28 per barrel.
Also read:
Musk’s company SpaceX is the seventh most expensive company in the world, know who is at number one and second?