On Friday, September 12, the equity market benchmark indices, the Sensex and Nifty 50, are expected to open higher, following a strong rally in global markets.
US ambassador-designate to India Sergio Gor said India and the US are “not that far apart” right now on a trade deal. Union Minister Piyush Goyal indicated that the first tranche of the agreement with the US on a trade deal should be finalised by November 2025.
As of 7:12 AM, the GIFT Nifty was trading near 25,180, up 73 points.
Asian markets traded higher, while the US stock market rallied overnight, with all three major Wall Street indices positive record high close.
On Thursday, September 11, Foreign Institutional Investors (FIIs) were net sellers. FIIs sold equities worth ₹3,472.37 crore.
Domestic Institutional Investors (DIIs) were buyers on Thursday. They bought shares worth ₹4,045.54 crore on the same day. DIIs have been net buyers for the past 13 consecutive trading sessions.
On Thursday, September 11, Nifty continued its winning streak for the seventh straight session, it managed to reclaim an important psychological level of 25,000 and the Sensex gaining over 100 points.
By the end of the session, the Sensex closed at 81,548.73, higher by 123.58 points or 0.15%, while the Nifty 50 settled at 25,005.50, up 32.40 points or 0.13%, extending its upward momentum.
Infosys announced its largest-ever share buyback programme in history worth ₹18,000 crore. The IT major will buy 10 crore fully paid-up equity shares, representing up to 2.41% of the total paid-up equity share capital of the company, at an amount of ₹1,800 per equity share. This represents a premium of about 19% on its last close on the BSE.
US equities closed on a strong note, with all three major Wall Street indices finishing at record highs following the release of inflation data. The Dow Jones advanced 1.36% to settle at 46,108.00, the S&P 500 rose 0.85% to 6,587.47, and the Nasdaq ended 0.72% higher at 22,043.08.
US consumer prices increased by the most in seven months in August. US CPI rose 0.4% last month, the biggest gain since January, after increasing 0.2% in July. In the 12 months through August, the CPI advanced 2.9%, the largest increase since January, after climbing 2.7% in July.
New applications for unemployment benefits in the US rose notably last week. For the week ending September 6, initial claims for state jobless benefits increased by 27,000 to a seasonally adjusted 263,000.
Gold extended its upward momentum, marking a potential fourth straight week of gains. Spot gold edged higher by 0.1% to $3,637.06 per ounce, while bullion prices recorded a 1.4% rise this week.
Oil prices slipped as concerns grew over weaker US demand, coupled with an oversupplied market. Brent crude futures dropped 0.45% to $66.07 a barrel, and US West Texas Intermediate futures slid 0.5% to $62.06. Both benchmarks had already posted losses in the previous session, with Brent down 1.7% and WTI lower by 2%.
The US dollar eased against key global currencies amid expectations of further rate cuts. The dollar index retreated 0.28% to 97.51.
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