Indian benchmark indices BSE Sensex and Nifty 50 were in the green at open.
Sensex Today: Indian benchmark indices BSE Sensex and Nifty 50 opened in the green but were subdued as a mix of global cues weighed on investors’ sentiment.
At opening bell, the BSE Sensex was up 0.09 per cent, at 81,786, while the 50-stock Nifty 50 was at 25,023, up 0.02 per cent.
Read More: Rekha Jhunjhunwala to earn ₹106 crore this week. Reason: Baazar Style Retail IPO
Market View | Markets are optimistic about the US Fed policy rate cut following Jerome Powell’s supportive comments and the Federal Reserve’s confidence in achieving its 2% inflation target. Further buying by FIIs over the last three days added to the sentiments.
We expect this up-move to continue with Nifty likely headed towards new highs in near term supported by broader market and stock specific action, said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Read More: Premier Energies IPO: 12 key risks to know before subscribing to the issue
Global Cues
Meanwhile, stocks in Asia were trading in tight ranges following a sluggish day on Wall Street, as investors prepared for a slew of earnings in the US that will set the tone for risk assets.
Asian markets were down, with the ASX200 slipping 0.47 per cent ahead of Australia’s inflation data. The Nikkei declined 0.21 per cent, and the Kospi dropped 0.27 per cent.
Markets are also anticipating an imminent start to the Federal Reserve’s monetary policy easing, after Chair Jerome Powell said on Friday the central bank was ready to start cutting rates.
Read More: Stocks To Watch: Tata Tech, NBCC, SBI Card, Wipro, Jio Financial, LTIMindtree, And Others
Wall Street’s main indexes ended higher in choppy trading. The Dow Jones Industrial Average added 0.02 per cent to end at 41,250.50, the S&P 500 gained 0.16 per cent to 5,625.80 and the Nasdaq Composite rose 0.16 per cent to 17,754.82.
Meanwhile, European stocks finished up 0.16 per cent, following a late rally in Japan’s Nikkei index that ended 0.47 per cent higher.
