Stock market updates for April 2, 2024: After a strong start to FY25, benchmark indices opened Tuesday’s trading session on a quiet note.
The S&P BSE Sensex opened little changed at 74,022 and quickly fell to a low of 73,793. The BSE benchmark then recovered its losses and rose 50 points to the 74,080 level. NSE Nifty is hovering around 22,500. Among the 30 Sensex stocks, Wipro, ICICI Bank, Bajaj Finance and Mahindra & Mahindra were among the notable losers. On the other hand, Nestlé and NTPC maintained modest gains.
US markets ended mostly lower overnight as data showed the US manufacturing sector grew for the first time since September 2022, giving a fresh jolt to hopes of an early interest rate cut. Analysts believe the strong U.S. economy does not warrant a rate cut anytime soon. The Dow Jones fell 0.6%, the S&P 500 fell 0.2%, and the Nasdaq rose 0.1%. Meanwhile, the yield on the 10-year US Treasury note soared above 4.30%.
Nearby, Taiwan rose 1%, the Nikkei average and Kospi maintained slight gains, while the Chinese index was in the red.
