On Wednesday, September 10, the equity market benchmark indices, the Sensex and Nifty 50, are expected to open higher, following positive sentiment from global peers and comments from US President Donald Trump.
US President Donald Trump said that India and the US “are continuing negotiations to address the Trade Barriers between our two Nations.” Trump posted on Truth Social, “I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks.”
Sharing an update on India-US trade talks, Trump added, “I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!.”
As of 7:16 AM, the GIFT Nifty was trading near 25,003, up 52 points.
Asian markets traded higher, while the US stock market rallied overnight, with all three major Wall Street indices posting record highs.
On Tuesday, September 9, Foreign Institutional Investors (FIIs) were net buyers. FIIs bought equities worth ₹2,050.46 crore, ending an 11-day selling streak.
Domestic Institutional Investors (DIIs) were buyers on Tuesday. They bought shares worth ₹83.08 crore on the same day. DIIs have been net buyers for the past 11 consecutive trading sessions.
On Tuesday, Indian equity benchmarks extended their winning streak for the fifth session, supported mainly by information technology stocks after Infosys announced a share buyback plan and as expectations of a U.S. rate cut boosted sentiment.
The Nifty 50 rose 0.39% to close at 24,868.60, while the BSE Sensex also advanced 0.39%, settling at 81,101.32.
The Bank Nifty edged up to 54,216.10. Among sectors, IT led the rally along with FMCG and pharma, while Realty and Oil & Gas witnessed some selling pressure. Mid-cap and small-cap indices also managed to post marginal gains.
Wall Street ended Tuesday on a strong note with all three major US indexes closing at fresh record highs, led by gains in UnitedHealth. Investor sentiment was further lifted after a downward revision in payroll data, strengthening expectations that the Federal Reserve may soon cut interest rates to support the economy.
The rally, fueled by optimism around artificial intelligence and prospects of lower borrowing costs, pushed the S&P 500 up 0.27% to 6,512.61, crossing its earlier record set last Thursday. The Nasdaq added 0.37% to close at 21,879.49, securing a second consecutive record, while the Dow Jones gained 0.43% to finish at 45,711.34, surpassing its August 28 high.
Brent crude oil futures rose toward $67 per barrel and WTI crude oil futures rose above $63 per barrel on Wednesday, extending gains for the third straight session, driven by concerns of potential supply disruptions amid rising Middle East tensions.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.43% to 97.81.
Gold prices surged sharply on Wednesday, hitting new records in both domestic and global markets on the back of strong international cues.
On the MCX, December gold futures advanced by ₹723, or 0.65%, to touch an all-time high of ₹1,10,312 per 10 grams. The actively traded October contract also gained ₹982, or 0.9%, reaching a fresh peak of ₹1,09,500 per 10 grams.
In the global market, December Comex gold futures scaled a new record of $3,715.2 per ounce, while spot gold rose to an all-time high of $3,674.78 per ounce.
Disclaimer: The article is for informational purposes only and not investment advice.
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