The Indian stock market is set to rally today following positive global trends after the US Federal Reserve maintained its stance of three rate cuts this year. The Sensex and Nifty are expected to open higher, with the Gift Nifty futures trading significantly above Wednesday’s close.
Asian markets, including Japan’s Nikkei, reached new all-time highs, while US stock indices closed at record levels overnight. The Federal Reserve’s decision to keep interest rates steady and stick to its forecast of three rate cuts this year has boosted market sentiment globally.
In pre-market trading, the Gift Nifty was at 22,077.50, indicating a strong start for the Indian benchmark indices. Asian shares are trading positively, with gold prices also rising to record highs.
The US dollar slightly weakened, and traders increased their expectations for a US rate cut in June. Japan’s Nikkei surged 1.5% to over 40,000, while MSCI’s Asia-Pacific index outside Japan rose 1.6%.
Overall, the global market outlook is positive, with investors reacting favorably to the Federal Reserve’s decision. The Indian market is poised to benefit from this positive sentiment, with expectations of a strong opening for the Sensex and Nifty.
