Indian stock market indices, Sensex and Nifty 50, are expected to open flat on Wednesday as investors await key economic data and the US Federal Reserve interest rate decision. Asian markets traded mixed, while the US stock market ended mostly higher with record closing highs for the S&P 500 and Nasdaq.
Investors are cautiously awaiting US inflation data and the Fed’s policy outcome, with expectations for a rate cut in September now at about a 50% chance. The Indian stock market ended flat on Tuesday, with the Sensex closing down slightly and the Nifty 50 settling up marginally.
Market expert Siddhartha Khemka noted that investors are in consolidation mode, awaiting direction from the US Fed’s commentary. Global cues, including the US CPI data and Fed policy decision, will likely drive market sentiment.
Asian markets saw mixed trading, with Japan’s Nikkei 225 and Topix falling, while South Korea’s Kospi and Kosdaq gained. Hong Kong’s Hang Seng index futures indicated a weak start.
Gift Nifty was trading around 23,310 level, suggesting a flat opening for Indian indices. The US stock market ended mixed, with the S&P 500 and Nasdaq hitting record highs. General Motors announced a share buyback plan, while Oracle’s shares rose after quarterly results.
Apple’s share price reached a record high after unveiling new AI features. The US Federal Reserve is expected to keep interest rates unchanged, with the FOMC likely to maintain status quo in the policy meeting.
The World Bank projected India’s GDP growth at an average of 6.7% from 2024 to 2026, making it the fastest-growing large economy. Oil prices traded higher, with Brent crude back above $82 a barrel.
Investors are advised to consult with certified experts before making any investment decisions. Stay updated with the latest news and analysis on the Indian stock market and global economic trends.
