Exciting Stock Market LIVE Updates: GIFT Nifty Indicates Thrilling Gap-Up Start for Sensex, Nifty; Nikkei Skyrockets by 3%

Stock Market LIVE Updates: September 12, 2024

Indian benchmark indices, BSE Sensex and Nifty 50, are expected to open higher on Thursday, bolstered by overnight gains in the US markets that also positively influenced Asian markets. At 7:25 AM, GIFT Nifty futures were trading 150 points higher, reflecting the anticipated strong start.

US markets reversed an earlier sell-off to finish higher on Wednesday, with Brent crude also rebounding from 3.5-year lows. The gains were driven by a key inflation report, which solidified expectations of a 25-basis point rate cut by the US Federal Reserve next week. Notably, tech stocks, especially chipmakers, led the rally, putting the Nasdaq ahead of other indices. The Consumer Price Index (CPI) indicated a cooler-than-expected annual inflation rate of 2.5%, while the core measure saw a hotter-than-expected monthly gain of 0.3%.

Financial markets currently see an 85% probability of a 25 bp rate cut, according to CME’s FedWatch Tool. Investors also closely monitored the US presidential debate between Vice President Kamala Harris and former President Donald Trump for potential policy shifts.

In India, attention will be on August’s CPI, expected to rise 3.5% year-on-year, slightly down from 3.54% in July.

US indices performed well with the Dow Jones Industrial Average rising 124.75 points (0.31%) to 40,861.71, the S&P 500 gaining 58.6 points (1.07%) to 5,554.12, and the Nasdaq Composite adding 369.65 points (2.17%) to 17,395.53. European stocks remained mostly flat, awaiting the European Central Bank’s rate decision.

Asian markets opened higher. Japan’s Nikkei 225 surged 3%, Topix gained 2.48%, South Korea’s Kospi rose 1.2%, and the small-cap Kosdaq advanced 2.5%. Australia’s S&P/ASX 200 jumped 0.6%, while Hong Kong’s Hang Seng futures were trading high.

Oil prices stabilized, with US crude up 2.37% to $67.31 per barrel, and Brent increasing 2.05% to $70.61. Gold prices dipped 0.2% to $2,512.30 per ounce.

Investors remain watchful as global economic indicators and geopolitical events continue to influence markets.

Original Story https://www.business-standard.com/markets/news/stock-market-live-updates-today-sensex-nifty-nse-bse-tata-steel-shree-tirupati-ipo-124091200068_1.html
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