The Indian stock market, including Sensex and Nifty 50, is expected to start Wednesday on a positive note, boosted by global market gains and the upcoming Reserve Bank of India (RBI) monetary policy announcement.
Asian markets were in the green, and Wall Street saw a strong rally overnight, led by a rise in technology stocks.
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Investors are keeping an eye on the RBI’s policy update today. The Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, is expected to keep the repo rate steady but may shift its stance.
On Tuesday, Indian markets saw a solid recovery after six days of selling. The Sensex jumped 584.81 points (0.72%) to 81,634.81, while the Nifty 50 rose by 217.40 points (0.88%) to close at 25,013.15.
“Markets bounced back due to short covering in sectors like banking, telecom, auto, and real estate, despite weak signals from Asia and Europe,” said Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd. He noted that the medium-term outlook remains uncertain due to foreign investor selling and the ongoing conflict in West Asia.
Key Global Market Updates for Today:
Asian Markets:
Asian markets traded higher, following Wall Street’s rally. Japan’s Nikkei 225 rose by 1%, and the Topix gained 0.5%. Hong Kong’s Hang Seng index also pointed to a higher opening, while South Korean markets were closed for a holiday.
Gift Nifty Today:
Gift Nifty was trading around the 25,160 mark, 28 points higher than the Nifty futures’ previous close, signaling a likely positive start for Indian markets.
Wall Street:
US markets closed higher on Tuesday, led by tech stocks. The Dow Jones rose 126.13 points (0.30%) to 42,080.37. The S&P 500 gained 55.19 points (0.97%) to 5,751.13, while the Nasdaq Composite jumped 259.01 points (1.45%) to 18,182.92. Notable stock movers included Nvidia (up 4.1%), Apple, Tesla, and Meta (up between 1.4% and 1.8%).
India’s Bonds in FTSE Russell Index:
FTSE Russell announced that India’s sovereign bonds will join its Emerging Markets Government Bond Index (EMGBI) in September 2025, potentially attracting billions of dollars to the Indian bond market. India will represent 9.35% of the index.
US Federal Reserve:
Boston Federal Reserve President Susan Collins mentioned that with inflation cooling, there is a strong possibility of more interest rate cuts. She noted that “further policy adjustments are likely.”
New Zealand Rate Cut:
New Zealand’s central bank cut its key interest rate by 50 basis points to 4.75%. The bank said inflation is now within its target range of 1% to 3%.
US Trade Deficit:
The US trade deficit shrank in August by 10.8%, dropping to $70.4 billion from $78.9 billion in July. Economists expected a smaller decline, but the numbers beat forecasts.
Oil Prices:
Oil prices rose after seeing their biggest drop in over a year the previous day. Brent crude was up 0.58% to $77.63 per barrel, while US WTI crude rose 0.58% to $74.00 per barrel.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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