Market Today
Indian benchmark indices Sensex and Nifty 50 are likely to open on a flat note on September 18, tracking cues from GIFT Nifty trading near 25,458, a short while ago this morning.
Benchmark indices Sensex and Nifty extended gains for the second consecutive day and ended on a record high note on September 17 led by gains in telecom, auto, and construction stocks. The gains come ahead of the US Federal Reserve monetary policy outcome, wherein market participants expect about a 25 basis point interest rate cut.
At close, the Sensex rose 80 points or 0.1 percent to 83,068, and the Nifty added 34 points, settling at 25,418.50.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Flat)
The GIFT Nifty is trading marginally lower, indicating a flat opening for the day. Nifty futures were trading at 25,458 at 07:00 am IST.
Asian Equities (Mixed)
Asian markets were trading mixed on Wednesday, following gains on Wall Street that saw both the S&P 500 and the Dow Jones Industrial Average reach new highs.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Topix | 0.45 | 8.65 | 8.67 |
| Nikkei | 0.80 | 9.23 | 9.27 |
| Hang Seng | – | – | – |
| Taiwan | -0.36 | 17.13 | 17.20 |
| Kospi | – | – | – |
US Equities (Flat)
US stocks closed nearly unchanged on Tuesday, giving up earlier gains that had vaulted the S&P 500 and Dow Industrial Average to record highs as investors braced for the first Federal Reserve rate cut in 4-1/2 years.
The Dow Jones Industrial Average fell 15.90 points, or 0.04%, to 41,606.18, the S&P 500 gained 1.49 points, or 0.03%, to 5,634.58 and the Nasdaq Composite gained 35.93 points, or 0.20%, to 17,628.06.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Dow Jones | -0.04 | -0.03 | 11.22 |
| S&P500 | 0.03 | -0.38 | 18.91 |
| Nasdaq | 0.20 | -0.62 | 18.20 |
US Bond Yield (Down)
The US 10-year Treasury yield was down 10 bps at 3.64 percent and the US 2-year bond yield was down 12 bps to 3.60 percent, in the early trade on Tuesday.
| CURRENT PRICE | MTD | YTD | |
| US 10-Year Treasury | 3.64 | 3.87 | 4.30 |
| US 2-Year Treasury | 3.60 | 4.06 | 5.05 |
Dollar Index (Flat)
The dollar steadied on Wednesday as stronger-than-expected US retail sales had traders slightly trimming bets that the US easing cycle will begin with an outsized interest rate cut.
| CURRENT PRICE | MTD | YTD | |
| Dollar Index | 100.84 | 101.88 | 105.20 |
Asian currencies (Mixed)
Asian currencies were trading mostly higher in the early trade on Wednesday. However, on a year-to-day, the Malaysian Ringgit rose 7 percent, while the Taiwan Dollar shed 4 percent.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | 0.437 | 1.40 | 0.417 |
| South Korean Won | 0.095 | 0.813 | -2.39 |
| Japanese Yen | 0.473 | 3.42 | -0.494 |
| Philippines Peso | -0.258 | 1.49 | -0.785 |
| Thai Baht | 0.042 | 3.01 | 2.64 |
| Taiwan Dollar | -0.091 | 0.348 | -4.16 |
| China Renminbi | 0.289 | 0.814 | 0.39 |
| Malaysian Ringgit | -0.035 | 2.87 | 7.78 |
| Singapore Dollar | 0.170 | 1.02 | 1.96 |
Gold (Gains)
Gold price were trading marginally higher at $2,573, while the Silver prices shed nearly 1 at $30.45.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Gold | 0.17 | 2.78 | 24.70 |
| Silver | -0.80 | 5.58 | 27.93 |
Crude (Down)
Oil prices slipped 0.5 percent in the early trade on Wednesday.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| US West Texas | -0.55 | -3.52 | -1.17 |
| Brent Crude | -0.53 | -6.78 | -4.83 |
LME Commodities (Down)
All the commodities were trading lower in the early trade on Wednesday, with Lead leading the losers with a 1 percent loss.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Aluminium | -0.18 | 3.15 | 5.87 |
| Copper | -0.21 | 1.46 | 9.48 |
| Nickel | -0.59 | -3.45 | -2.50 |
| Lead | -1.01 | -1.70 | -2.44 |
| Zinc | -0.68 | 1 | 10.08 |
Fund Flow Action
The foreign institutional investors (FIIs) bought equities worth Rs 482 crore on September 17, while domestic institutional investors also bought equities worth Rs 874 crore on the same day.
| 17th Sept | MTD | YTD | |
| FII Net Flows (Rs Cr) | 482.69 | 18,112.82 | -124,423.38 |
| DII Net Flows (Rs Cr) | 874.15 | 10,760.54 | 3,16,364.25 |
Hope you’re all set for today’s trade, we wish you a profitable day ahead.
Disclaimer: The views and investment tips expressed by investment experts on Taaza Khabar are their own and not those of the website or its management. Taaza Khabar advises users to check with certified experts before taking any investment decisions.
