2 days Ago
Indian stock market: The domestic equity market is expected to open higher on Thursday tracking positive cues from global peers. Asian markets traded higher, while the US stock market ended mostly in the green overnight after data pointed to a softening economy, raising hopes for an interest rate cut by the US Federal Reserve in September. Investors boosted bets of a September rate cut to over 70%, as per LSEG’s FedWatch.
On Wednesday, the Indian stock market ended with healthy gains, recording fresh closing high, with the benchmark Sensex breaching the coveted 80,000 mark for the first time ever, and the Nifty 50 crossing above 24,300 during the day. The Sensex rallied 545.35 points, or 0.
69%, to close at 79,986.80, while the Nifty 50 settled 162.65 points, or 0.
67%, higher at 24,286.50. “Strong institutional flows continue to support the market's upward trend, suggesting sustained returns in the long term.
However, the focus will likely shift to the upcoming budget and earnings reports next week, which may lead to short-term market consolidation,” said Naveen Kulkarni, Chief Investment Officer (CIO) at Axis Securities PMS. Here are key global market cues for Sensex today: Asian Markets Asia markets traded higher on Thursday with Japan’s Topix crossing all-time high. The Topix jumped 0.
56%, while the Nikkei 225 rose 0.55%. South Korea’s Kospi rallied 0.
98%, while the Kosdaq gained 0.75%. Hong Kong Hang Seng index futures indicated a higher opening.
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