Benchmark indices BSE Sensex and Nifty 50 opened cautiously on Wednesday, edging higher amid weak global cues.
Benchmark indices BSE Sensex and Nifty 50 opened cautiously on Wednesday, edging higher amid weak global cues.
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At the start of trading, the BSE Sensex gained 53.82 points, or 0.07%, to reach 81,563.87, while the Nifty 50 rose by 4.10 points, or 0.02%, settling at 24,614.15.
Global Cues
Markets in the Asia-Pacific region displayed mixed performance on Wednesday. Hong Kong’s Hang Seng index climbed 0.57%, while the CSI 300 was up 0.18%. The Shanghai Composite gained 0.13%.
South Korea’s Kospi surged 0.78%, and the small-cap Kosdaq advanced by 2%. However, Japan’s Nikkei 225 saw a decline of 0.25%, with the Topix index remaining nearly flat. Australia’s S&P/ASX 200 dropped 0.49%.
Global equities retreated on Tuesday, with the US dollar strengthening. Gold prices rose to a two-week high, supported by escalating geopolitical tensions and expectations of a third rate cut by the US Federal Reserve next week.
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Traders are awaiting key US inflation data due on Wednesday, alongside a meeting of the European Central Bank scheduled for Thursday.
On Tuesday, US stock indices saw declines: the Dow Jones Industrial Average fell 154.10 points, or 0.35%, to 44,247.83; the S&P 500 dropped 17.94 points, or 0.30%, to 6,034.91; and the Nasdaq Composite declined by 49.45 points, or 0.25%, to 19,687.24.
The pan-European STOXX 600 index lost 0.5% on Tuesday, breaking an eight-session winning streak, as luxury stocks led the declines following disappointing trade data from China.
