On Friday, September 19, equity benchmark indices Sensex and Nifty 50 are expected to open on a cautious note amid worries over US tariffs, despite strong cues from global markets. At 7:17 AM, the GIFT Nifty was trading near 25,473, down by 43 points.
India’s chief economic adviser (CEA) V. Anantha Nageswaran said he expected a resolution to the tariff stand-off with the US within the next two months. Speaking at an industry gathering, Nageswaran said he believed Washington would soon roll back the additional 25% tariff imposed on New Delhi for buying Russian oil.
SEBI cleared the billionaire Gautam Adani and his group of stock manipulation allegations made by US short-seller Hindenburg Research, saying fund transfer between group companies did not fall foul of any regulation.
Asian markets traded higher, while the US stock market rallied, with all three major Wall Street indices posting record-high closes.
On Thursday, September 18, Foreign Institutional Investors (FIIs) were net buyers. FIIs bought equities worth ₹366.69 crore.
Domestic Institutional Investors (DIIs) were buyers on Thursday. They bought shares worth ₹3,326.56 crore on the same day. DIIs have been net buyers for the past 18 consecutive trading sessions.
On Thursday, September 18, the Sensex and Nifty 50 posted gains for the third straight session, tracking global cues after the US Federal Reserve reduced its benchmark rate by 0.25% and signalled the possibility of two more cuts this year.
The Sensex rose 320 points (0.39%) to 83,013.96, while the Nifty 50 added 93 points (0.37%) to 25,423.60. In the broader market, the BSE Midcap index increased 0.36%, while the Smallcap index ended up by 0.29%.
On Thursday, US stocks ended at record highs, with smaller companies leading the gains, after the Federal Reserve signalled the beginning of a rate-cut cycle. The move lifted investor sentiment and renewed optimism for stronger economic growth.
The S&P 500 rose 0.48% to finish at 6,631.96, while the Nasdaq Composite advanced 0.94% to 22,470.73. The Dow Jones Industrial Average gained 124 points, or 0.27%, closing at 46,142.42.
All three major indexes touched fresh intraday records, just a day after a volatile session following the Fed’s policy decision.
The latest data shows a decline in US unemployment benefit applications. For the week ending September 13, initial jobless claims dropped by 33,000 to a seasonally adjusted 231,000.
The Bank of England kept its key interest rate steady at 4%, leaving uncertainty over potential rate cuts later in the year. It also announced a slowdown in its quantitative tightening programme, with a shift away from selling long-dated gilts. In the latest meeting, policymakers voted 7-2 to reduce the annual pace of gilt sales—acquired between 2009 and 2021—to £70 billion from £100 billion ($136.47 billion).
Japan’s inflation rose 2.7% in the year to August. The increase in the core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, matched a median market forecast and slowed from a 3.1% year-on-year rise in July.
Gold edges lower in the early trade session amid a cautious mood. Spot gold was 0.1% lower at $3,638.75/oz.
WTI crude oil futures hovered around $63.6 per barrel and Brent crude oil futures hovered around $67.5 per barrel on Friday, paring their second straight weekly gain, as renewed calls from US President Donald Trump for lower prices tempered supply concerns.
Disclaimer: The article is for informational purposes only and not investment advice.
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