Indian stocks hit record highs

Indian stocks hit a record as the Covid-19 “tsunami” subsided

India’s BSE Sensex index set a new peak on the trading day of June 11, while the Asia-Pacific stock market was quite quiet.

India’s BSE Sensex index hit a record of 52,641.53 points on the trading day of June 11. Photo: AFP

The BSE Sensex index hit 52,641.53 points on the trading day of June 11, higher than the record of 52,516.76 points set in February, according to Refinitiv Eikon data. Another important Indian stock index – the Nifty 50 – on June 11 recorded a gain of 0.3%.

According to Reuters news agency, India leads the world in the average number of confirmed deaths per day from Covid-19. Accordingly, 1 out of every 3 confirmed Covid-19 deaths worldwide is in India.

Overall, the number of Covid-19 infections and deaths in India has been steadily decreasing over the past weeks. The average number of Covid-19 infections per day in India decreased to 105,876 cases, equal to 27% compared to the peak confirmed on May 9.

India’s Ministry of Health data shows that the country’s total official Covid-19 infections were 29.2 million, as of June 10, after an increase of 94,052 cases in the previous 24 hours, leaving a total of 94,052 cases in the previous 24 hours. the number of deaths was 359,676.

The Japanese stock market on June 11 was less turbulent. The Nikkei 225 closed slightly lower at 28,948.73 points, while the Topix index dropped 0.14% to 1,954.02 points. In South Korea, the Kospi index rose 0.77% to 3,249.32 points.

Chinese stocks were in the red, with the Shanghai Composite dropping 0.58% to 3,589.75 points, while the Shenzhen Component fell 0.62% to 14,801.24 points. In contrast, Hong Kong’s Hang Seng index rose 0.36% to 28,842.13 points.

Australian stocks ended the trading week in the green as stocksS&P/ASX index 200 inched up 0.13% to 7,312.30 points. Overall, the MSCI Asia-Pacific Index (excluding Japan) rose 0.36%.

Wall Street last night saw the S&P 500 index set a record after gaining nearly 0.5% and closing at 4,239.18 points. Meanwhile, the Dow Jones Industrial Average edged up 19.1 points to 34,466.24 and the tech-heavy Nasdaq Composite added 0.78% to 14,020.33 points.

Earlier, the US Department of Labor announced that the US consumer price index in May increased by 5% – the fastest increase since August 2008. This rate exceeded the 4.7% increase forecast by economists in the Dow Jones survey.

In the currency market, the US dollar index against other major currencies fell to 89.993, from the usual 90 level of the week. The Japanese yen appreciated and converted to 109.43 JPY/USD, compared with 109.6 JPY/USD set yesterday, while the Australian dollar was firm around 1 AUD to 0.7765 USD.

Oil prices traded by Asian time on the afternoon of June 11 increased slightly. Brent crude oil futures inched up marginally to $72.58 per barrel, while US crude futures rose about 0.1% to $70.35 per barrel.