On Thursday, September 11, the equity market benchmark indices, the Sensex and Nifty 50, are expected to open on a muted note, following mixed cues from global markets.
India is in ‘active dialogue’ with the United States for a free trade agreement, Union Commerce and Industry Minister Piyush Goyal said. Speaking at the FICCI event, Goyal said that India is also in talks with New Zealand for a trade deal. The minister said that negotiations are underway with the European Union as well in the national capital for concluding a trade agreement.
As of 7:16 AM, the GIFT Nifty was trading near 25,088, up 14 points.
Asian markets traded mixed, while the US stock market ended mixed overnight, with the S&P 500 and Nasdaq posting record-high close.
On Wednesday, September 10, Foreign Institutional Investors (FIIs) were net sellers. FIIs sold equities worth ₹115.69 crore,
Domestic Institutional Investors (DIIs) were buyers on Tuesday. They bought shares worth ₹5,004.29 crore on the same day. DIIs have been net buyers for the past 12 consecutive trading sessions.
On Wednesday, Indian equities closed in the green as hopes of an India-US trade agreement lifted market sentiment. The Sensex advanced 323.83 points, or 0.40%, to end at 81,425.15, while the Nifty 50 gained 104.50 points, or 0.42%, finishing the session at 24,973.10.
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.
On Wednesday, US stocks ended on a mixed note. The S&P 500 and Nasdaq closed at record highs, lifted by softer-than-expected inflation data that strengthened expectations of a Federal Reserve rate cut next week.
Meanwhile, the Dow Jones Industrial Average slipped 0.48% to 45,490.92. The S&P 500 advanced 0.30% to finish at 6,532.04, and the Nasdaq edged up 0.03% to 21,886.06.
US producer prices unexpectedly fell in August. The Producer Price Index (PPI) for final demand dipped 0.1% last month after a downwardly revised 0.7% jump in July.
Japan’s wholesale inflation rose by 2.7% year-on-year in August. The corporate goods price index (CGPI), which tracks prices charged between companies for goods and services, aligned with market expectations. This came after a revised 2.5% increase recorded in July.
Brent crude oil futures hovered around $67.4 per barrel and WTI crude oil futures hovered around $63.7 per barrel on Thursday, holding a three-day gain as mounting geopolitical risks stoked fears of supply disruptions.
The US dollar index climbed for the third straight session, reaching 97.822.
Gold prices inched up following weaker-than-expected US producer price index (PPI) data. Spot gold gained 0.1% to $3,645.04 an ounce, after touching an all-time high of $3,673.95 on Tuesday.
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