Markets muted, Nifty below 24,300 and Sensex down 200 points; Hindustan Unilever down 4%
The Indian benchmark indices, Sensex and Nifty, opened on a flat note today, with both trading in the red. The Nifty is hovering near 24,250, while the Sensex is around the 80,000 mark.
Select Asian markets, however, have started on a strong note. Nikkei is up over 1% after US stock markets extended gains for the second day. This is after Donald Trump announced that he had “no intention” of removing Fed Chair Jerome Powell before his term. The US indices closed the session higher in a range of 1%-2.5%.
Here are key factors markets will look at Thursday’s trade-
Trump will not fire Jerome Powell: US President Donald Trump said he had “no intention” to remove Federal Reserve Chair Jerome Powell before his term. However, recently, Trump criticised Powell and heaped pressure on him to cut key lending rates to boost economic growth, calling him a “major loser” for not doing so.
Overnight US markets: The key US indices surged on hopes that U.S.-China trade tensions could soon ease and Trump’s plan to not fire Powell. The Dow Jones Industrial Average advanced 419.59 points, or 1.07%, to finish at 39,606.57. The S&P 500 rose 1.67% to close at 5,375.86, and the Nasdaq Composite climbed 2.50% to settle at 16,708.05.
Dollar Index: The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.11% at 99.73 on Thursday morning.
Gold rate today: Gold prices retreat after crossing the crucial Rs 1 lakh mark per 10 grams as the global uncertainty may come to an end after the US announced it to ease tariffs on China. The 24-carat gold rate today was Rs 94,970/10 grams, down 0.46% from a week ago.
Comments are closed.