Asian Market Showed Gains, India Stock Market Extends Gains Into 2nd Consecutive Session

In today’s trading session, Asian markets experienced gains following record-breaking performances on Wall Street yesterday driven by the ongoing excitement surrounding AI technology, which continued to boost stock prices.

The Indian Stock market stayed positive, indicating stability following the 2024 Lok Sabha election results. The benchmarks, the Sensex and the Nifty 50, each climbed 1%, marking the second consecutive session of gains. This rise was fueled by optimism regarding political stability and policy continuity as the new coalition government prepares to take office.

Despite having a sharp selloff on Tuesday due to the result of the Lok Sabha election, the market rebounded significantly as investors processed the election results and turned their attention to strong macroeconomic fundamentals. 

The Nifty 50 closed at 22,851.75 up by 231 points, or 1.02%, while the Sensex ended 786 points, or 1.06% higher at 75,168.

In Tokyo, the Nikkei 225 index increased by 0.9% to 38,841.75. The Hang Seng index also rose by 0.8% to 18,869.48, while the Shanghai Composite index edged up 0.1% to 3,068.31.

Australia’s S&P/ASX 200 increased by 0.7% to 7,824.40 following data from the Australian Bureau of Statistics indicating that the country’s trading surplus rebounded in April, with a 2.5% decline in exports and a 7.2% drop in imports. 

Taiwan’s Taiex surged 2% after contract electronics manufacturer Foxconn reported a 0.6% rise in its shares, following a 22.% year-on-year revenue increase in May, marking a record high for the month. Meanwhile, in Bangkok, the SET index rose by 0.4%

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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