Thrilling Stock Market LIVE Updates: Sensex Soars 300pts to 81,900, Nifty Hits 25k; IT, Pharma, Health Surge Ahead | Breaking Market News
Stock Market LIVE Updates: Tuesday, September 10, 2024
Indian equity benchmarks BSE Sensex and Nifty 50 showed gains on Tuesday, bolstered by strong overnight performances in the US markets, which saw significant upticks on Monday. By noon, the BSE Sensex had risen by 324 points (0.40%) to 81,884, and the Nifty 50 had increased by 92 points (0.37%) to 25,028.
In the US, all three major stock indices surged by over 1%, ending a four-session losing streak. The S&P 500 and the Dow rebounded from their steepest weekly percentage losses since March 2022, while the tech-heavy Nasdaq also rallied. This buoyancy translated into positive trends across Asia-Pacific markets, where Japan’s Nikkei 225 gained 0.52% and Australia’s S&P/ASX 200 rose 0.69%. South Korea’s Kospi and Kosdaq saw modest increases, while Hong Kong’s Hang Seng index futures were ahead of its last close.
The US dollar strengthened in anticipation of the upcoming Consumer Price Index report on Wednesday. Investors have curbed expectations of a significant 50 basis point rate cut from the US Federal Reserve, influenced by last week’s mixed data, especially the August employment report.
In Asia, traders are focusing on August trade data from China and India. According to a Reuters poll, China’s exports and imports are expected to see their slowest growth in four months.
The upcoming Labor Department’s Consumer Price Index figures are anticipated to show a gradual reduction in underlying inflation towards the central bank’s 2% target. Current market sentiment indicates a 71% likelihood of a 25 basis point rate cut by the Fed.
US stock indices saw substantial gains, with the Dow Jones Industrial Average up 484.28 points (1.2%) at 40,829.69, the S&P 500 up 62.65 points (1.16%) at 5,471.07, and the Nasdaq Composite up 193.77 points (1.16%) at 16,884.60. European markets also recovered, with the STOXX 600 rising 0.82%.
Commodity markets saw US crude rising 1.54% to settle at $68.71 per barrel, while Brent increased by 1.10% to $71.84 per barrel. Gold prices held steady at $2,505.75 per ounce as investors awaited key inflation data.
Original Story https://www.business-standard.com/markets/news/stock-market-live-updates-today-sensex-nifty-nse-bse-suzlon-adani-pn-gadgil-ipo-124091000072_1.html
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