Market Bizzz

Bakkt, offering a range of services such as trading and custody, enters the market amid growing consolidation in the digital-asset sector, as crypto prices approach record highs. While some firms consider expansion, others are still recovering from the industry-wide meltdown two years ago.

The world witnessed unexpected outcomes in the Mexican elections and Narendra Modi’s victory, impacting markets globally. Claudia Sheinbaum’s landslide win also played a significant role in reshaping market dynamics.

Tokyo stocks traded in a narrow range on Friday after a mixed finish on Wall Street as investors await key US jobs data. “The Tokyo market is expected to stay within a narrow range in early trade after the US market ended mixed,” brokerage house Monex said.

Oil prices rose as OPEC+ members Saudi Arabia and Russia hinted at output adjustments. Brent crude futures reached $80.03 per barrel, and U.S. West Texas Intermediate crude futures hit $75.71. Europe’s interest rate cut raised expectations of a similar move in the U.S. Analysts await Chinese commodity trade data for insights into global oil demand.

Asian shares rose on Fed rate cut expectations and ECB meeting. Oil prices climbed, Treasury yields fell. Asia-Pacific shares outside Japan gained 1.14%, led by tech stocks.

Japan’s Nikkei share average rose over 1% on Thursday, led by Tokyo Electron and other chip-related stocks tracking U.S. peers higher.

Nvidia’s stock price has more than doubled this year, making it the third most valuable company in the S&P 500. The company is set to undergo a stock split, giving investors nine additional shares for every one they own.

Nifty saw its biggest fall in 20 years after the BJP fell short of a majority. The markets, expecting a BJP win, now face correction due to high valuations.

Domestic markets witness a major fall as NDA returns with reduced majority. Tata Motors to establish TML Commercial Vehicles Ltd, Ashok Leyland introduces ‘Sarathi Suraksha’ Policy, RIL faces losses, Wipro introduces Cyber X-Ray, Infosys enhances healthcare in Japan.