Sensex Today: India equity benchmark indices BSE Sensex and Nifty 50 dropped at open from near their record highs at pre-open on Friday, following a marginally higher-than-expected inflation print.
Overall we expect the market to continue its ongoing momentum on the back of healthy buying by FIIs and retail participation at every dip. Key event to watch out on the domestic front – India’s inflation data, said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
Global Cues
Overnight, Wall Street eked out gains and gold surged to a record high on Thursday as investors awaited a Federal Reserve interest rate cut next week.
Major US stock indexes spent much of the day in mixed territory before closing higher, after a rate cut from the European Central Bank and slightly hotter-than-expected US producer prices kept outlooks locked on a modest Fed rate cut at its policy meeting next week.
At closing, the Dow Jones Industrial Average was up 0.58 per cent, the S&P 500 was up 0.75 per cent, and the Nasdaq Composite was up 1 per cent on the back of strong tech stock performance.
However, markets in the Asia-Pacific region mostly fell on Friday morning. South Korea’s Kospi was flat, while the small cap Kosdaq was marginally lower.
Japan’s Nikkei 225 fell 0.43 per cent, and the broader Topix was also down 0.58 per cent.
Australia’s S&P/ASX 200 was the outlier and gained 0.75 per cent, nearing its all-time high of 8,148.7. Hong Kong’s Hang Seng index futures were at 17,294, higher than the HSI’s last close of 17,240. Futures for mainland China’s CSI 300 stood at 3,176, just slightly higher than the index’s last close, a near six-year low of 3,172.47 on Thursday.
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