Table of Contents
Stock Market Opening: India’s equity markets opened in the red today, with the BSE Sensex and Nifty 50 both experiencing slight losses. Investors are waiting for several important data releases and a key policy announcement from the US Federal Reserve on Wednesday.
At the opening bell, the BSE Sensex dropped by 22.23 points or 0.03 per cent, to 82,966.55, while the Nifty 50 is trading at 25,416, up by 33 points.
Key Data Releases Awaited
In India, investors are watching for the release of the Wholesale Price Index (WPI) inflation and manufacturing data for August. Additionally, data on imports and exports for the month is expected, which could impact market sentiment.
Global Market Outlook
Stocks in other Asian markets struggled on Tuesday, with lower trading volumes due to extended holidays in China and South Korea. Investors are focusing on Wednesday’s decision by the US Federal Reserve, as there is growing speculation that the Fed could make a larger-than-expected rate cut.
The likelihood of a 50-basis-point rate cut has increased, with markets now pricing in a 67 per cent chance of such a move, following recent reports of more aggressive easing. For the year, markets expect a total of 120 basis points in rate cuts by December.
This uncertainty has kept Asian markets subdued. MSCI’s broadest index of Asia-Pacific shares outside Japan rose just 0.1 per cent. Meanwhile, Japan’s Nikkei fell 0.6 per cent, led by losses in technology stocks, which followed a similar decline on Wall Street.
Related News |
US Federal Reserve May Cut Interest Rates For First Time Since 2020: Why Is It Delayed?
Mixed Outlook In Global Futures
US stock futures showed mixed trends, with S&P 500 futures and Nasdaq futures down by 0.12 per cent and 0.05 per cent, respectively. However, European futures performed better, with EUROSTOXX 50 and FTSE futures gaining over 0.3 per cent each.
FII And DII
Foreign Institutional Investors (FIIs) sold shares worth Rs 1,634.98 crore in Monday’s session, while Domestic Institutional Investors (DIIs) bought shares worth Rs 754.09 crore.
Related News |
US Fed Rate Cut: What It Means For Indian Stock Market? Here's What History Shows