Market Watch: Positive Opening Expected for BSE Sensex and NSE Nifty 50

On Wednesday, NSE Nifty 50 gained 58.10 points or 0.25 per cent, closing at 23,322.95. Meanwhile, BSE Sensex rose by 149.98 points or 0.20 per cent, ending the day at 76,606.57.
Stock Market Today,Stock Market Today Opening, NSE, BSE, Nifty, sensex, Stock Market

Market Watch: How Will It Perform Today? Check Indicators (image source: iStock)

GIFT Nifty suggests a positive start for the Indian stock markets today, with BSE Sensex and NSE Nifty 50 poised for gains. GIFT Nifty traded up by 82.50 points or 0.35 per cent, reaching 23,451.50.

Stock Market Today: How Indian Indices Performed Yesterday?

On Wednesday, NSE Nifty 50 gained 58.10 points or 0.25 per cent, closing at 23,322.95. Meanwhile, BSE Sensex rose by 149.98 points or 0.20 per cent, ending the day at 76,606.57.

Key Factors To Watch The Market Opens

US Federal Reserve Meeting Outcome
The US Federal Reserve decided to keep its key interest rate unchanged, indicating only one rate cut expected this year. This is a significant change from earlier predictions of three rate cuts, reflecting the ongoing high inflation, despite some recent easing.
India's Inflation Data
India's retail inflation, measured by the Consumer Price Index (CPI), dropped to a 12-month low of 4.75 per cent in May 2024, down from 4.83 per cent in April, according to the National Statistics Office (NSO).
US Inflation Data
In the US, May 2024 inflation slowed, with an annual rate of 3.3 per cent, down from 3.4 per cent in April and below economists' forecasts of 3.4 per cent, according to the Bureau of Labor Statistics (BLS).
S&P 500
The S&P 500 and Nasdaq hit record highs for the third consecutive day on Wednesday, driven by softer-than-expected inflation data. However, they closed off their highs as the Federal Reserve signaled only one interest rate cut this year.
Nasdaq Composite
The Nasdaq Composite rose by 264.89 points or 1.53 per cent to 17,608.44, the S&P 500 increased by 45.71 points or 0.85 per cent to 5,421.03.
Dow Jones
While the Dow Jones Industrial Average fell slightly by 35.21 points or 0.09 per cent to 38,712.21.
Asian Markets
Asian markets showed mixed results this morning. The Asia Dow dropped by 0.52 per cent. Japan’s Nikkei 225 rose by 0.53 per cent, Hong Kong’s Hang Seng index fell by 1.31 per cent, and China’s Shanghai Composite gained 0.31 per cent.
FII and DII Activity
On June 12, 2024, Foreign Institutional Investors (FII) bought shares worth Rs 426.63 crore, while Domestic Institutional Investors (DII) purchased shares worth Rs 233.75 crore, according to provisional data from the NSE.
End of Article
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