Indian Stock Market: Indian stock markets are expected to start on a positive note on Thursday, with share prices rising among global peers on the back of improving investor sentiment.
Asian markets rose and US stock market indexes ended mostly higher overnight following a speech by US Federal Reserve Chairman Jerome Powell.
Powell said Fed officials “believe it is likely appropriate” to begin lowering key interest rates “at some point this year” and are likely to lower the benchmark rate later this year. said.
Indian stock market indexes ended flat on Wednesday with a negative bias amid weakness in global indexes.
The Sensex fell by 27.09 points or 0.04% to close at 73,876.82, while the Nifty 50 fell by 18.65 points or 0.08% to close at 22,434.65.
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“Markets are trading cautiously ahead of the RBI policy meeting and important macro data to be released in the US and Europe. We expect markets to stabilize over the next few days until the situation unfolds,” said Motilal. said Siddhartha Khemka, Head of Retail Research, Oswal Financial Services.
Here are today’s key global market cues for Sensex.
asian market
Asian markets rose on Wall Street’s gains overnight after Federal Reserve Chairman Jerome Powell reaffirmed his view that interest rate cuts by the end of the year are likely.
Japan’s Nikkei Stock Average rose 1.34% to trade at nearly 40,000 yen, while the TOPIX rose 1.05%. South Korea’s Kospi rose 1.22%. Markets in Hong Kong, mainland China and Taiwan are closed for public holidays.
Read here: Asian stocks rise as Chairman Powell reaffirms interest rate cuts: market has come full circle
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Gift Nifty is trading around 22,594 levels, nearly 52 points premium from the previous closing price of Nifty futures, indicating a strong start for the Indian stock market index.
wall street
U.S. stock market indexes ended mixed on Wednesday, led by gains in energy, materials and communications services stocks.
The Dow Jones Industrial Average fell 43.1 points, or 0.11%, to 39,127.14, and the S&P 500 index rose 5.68 points, or 0.11%, to 5,211.49. The NASDAQ Composite Index rose 37.01 points (0.23%) to close at 16,277.46.
Among stocks, Ulta Beauty stock fell 15.3%, and Intel stock fell 8.2%.
Jerome Powell
US Federal Reserve Chairman Jerome Powell says the central bank is likely to lower its benchmark interest rate before the end of the year, despite recent reports showing the US economy remains strong and inflation is accelerating. Stated.
Read here: Powell: The Fed still expects to cut rates this year.The timing of the election does not affect the decision.
US private payroll
U.S. private payrolls rose more than expected in March. Private payrolls rose by 184,000 people last month, the most since last July, after an upward revision of 155,000 in February, according to the ADP jobs report. Economists polled by Reuters had expected private sector payrolls to rise by 148,000 last month, compared with the previous figure of 140,000 in February.
US services PMI
US services industry growth slowed further in March as the Institute for Supply Management (ISM) announced that last month’s non-manufacturing PMI fell to 51.4 from 52.6 in February, marking the second consecutive month of index decline. did. Economists polled by Reuters had expected the index to rise to 52.7 in March.
oil price
Oil prices rose as major producers cut production, raising concerns about a decline in supply. Brent futures for June rose 0.16% to $89.49 per barrel, and US West Texas Intermediate (WTI) futures for May contract rose 0.18% to $85.58 per barrel. Ta.
(Information provided by Reuters)
Disclaimer: The views and recommendations above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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