Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 32 points at the opening bell.
When it comes to the global perspective, Asian stocks are trading higher on thursday as investors came to know that the US federal reserve’s decision to end the rate-hiking cycle and also signals cuts for the next year.
US stocks finished higher yet again on Wednesday, with Federal Reserve signals pushing the S&P 500 to near all-time high. Moreover, US Fed Chair Jerome Powell mentioned that the inflation which is easing without an unemployment increase is good news.
The Fed set rates at 5.25%-5.5% for the third time and has also given timeline which gives info for at least three quarter-percentage point cuts in 2024 and beyond.Chair Jerome Powell said that the Federal Reserve is willing to cut rates even if the U.S. economy doesn’t dip into a recession in 2024.
Back home, the domestic equity barometers ended near the flat line, with some positive bias, on Wednesday. The barometer index, the S&P BSE Sensex added 33.57 points or 0.05% to 69,584.60. The Nifty 50 index rose 19.95 points or 0.10% to 20,926.35.
Foreign portfolio investors (FPIs) bought shares worth Rs 4,710.86 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 958.49 crore in the Indian equity market on 13 December, provisional data showed.
Written by Nalin Suriya S
