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Stock Market Opening: Ahead of the US Fed announcement, the share market has a muted start. As there are no major global cues, both the Indian exchanges are trading flat. At the opening bell, the BSE Sensex was down 75 points (0.09 per cent) at 83,004, while the Nifty50 fell 25 points (0.1 per cent) to 25,393.
On Tuesday, the markets had ended on a positive note, with the Sensex gaining 90.88 points (0.11 per cent) to close at 83,079.66 and the Nifty50 adding 34.80 points (0.14 per cent) to settle at 25,418.55.
Trade Deficit Widened In August
In other news, India’s trade deficit widened to a 10-month high of $29.7 billion in August, driven by record-high imports of $64.4 billion, largely due to a surge in gold imports. Meanwhile, exports declined for the second straight month, falling to $34.7 billion due to lower oil prices and weak global demand.
Wholesale Inflation
India’s wholesale price index (WPI)-based inflation eased to a four-month low of 1.31 per cent in August, down from 2.04 per cent in July, according to data from the Ministry of Commerce and Industry.
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Asian Markets
Across the Asia-Pacific region, markets showed mixed performances on Wednesday. Japan’s Nikkei 225 rose by 0.74 per cent, while the broader Topix gained 0.48 per cent. Australia’s S&P/ASX 200 dipped slightly, while mainland China’s CSI 300 remained nearly flat. Taiwan’s Weighted Index fell by 0.35 per cent. Markets in South Korea and Hong Kong were closed for the day, and mainland China resumed trading after a three-day holiday.
US Markets
In the US, stock markets ended nearly flat on Tuesday after hitting record highs earlier in the day. The dollar remained strong as solid economic data eased concerns about a slowdown, while investors awaited the Federal Reserve’s much-anticipated interest rate cut, the first in more than four years.
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Wholesale Price Index Drops In August; Here's Why It Decreased