Benchmark indices started Friday’s trading session on a positive note tracking gains in key overseas markets
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Sensex Today: Benchmark indices started Friday’s trading session on a positive note tracking gains in key overseas markets.
The S&P BSE Sensex opened with a gap of over 100 points at 72,606, while the NSE Nifty 50 was seen testing 22,050 levels.
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India’s Q3 GDP registered a higher-than-expected 8.4 per cent growth largely led by government capex spending. Meanwhile, the National Statistical Office (NSO), which releases the data, revised upwards FY24 growth estimate to 7.6 per cent from the 7.3 per cent projected in January. Growth was lar
On the other hand, India’s core sector output, which measures production by eight key industries, grew by 3.6 per cent in January, a 15-month low.
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Shares of auto companies will also be on investors radar as they announce monthly sales for February.
Special Trading Session on Saturday
Normal trading will be in two sessions on Saturday March 02, from 09:15 to 10:00 AM followed by 11:30 to 12:30 noon.
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Global Cues
In Asia this morning, Japan’s Nikkei soared 1.3 per cent. Most others, were trading on a flat note.
Overnight, the US markets ended higher as inflation data supported views of interest rate cut. The S&P 500 and Nasdaq hit fresh record highs and ended with most gains for February in a decade.
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On Thursday, Nasdaq jumped 0.9 per cent, the S&P 500 advanced 0.5 per cent and Dow added 0.1 per cent. raised hopes of a likely rate slightly lower a day ahead of a key inflation reading that could heavily influence expectations on timing of rate cuts. Dow and the S&P 500 were marginally in red, while Nasdaq slipped 0.6 per cent.
January’s Personal Consumption Expenditures (PCE) index – the Federal Reserve’s preferred measurement for inflation – saw headline cool to 2.4 per cent.
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The 10-year US Treasury bond yield dipped to 4.26.4 per cent. Whereas, Brent Crude Oil futures consolidated around $82 per barrel and Bitcoin stood firmly above the $60,000-mark for the second straight day.
