Indian stock market set to open higher on positive global cues
The Indian stock market is poised to open higher on Thursday, following positive cues from global markets. Asian markets traded higher, with Japan’s Nikkei 225 rising 0.56% and South Korea’s Kospi rallying 1.39%. The US stock market ended mostly in the green after the Federal Reserve kept interest rates unchanged and signaled a single rate cut of 25 basis points this year.
On Wednesday, the Indian stock market ended on a positive note, with the Nifty 50 hitting a record high during the session. The Sensex gained 149.98 points to close at 76,606.57, while the Nifty 50 settled 58.10 points higher at 23,322.95.
Analysts expect the market to consolidate with a positive bias in the near term, as it awaits further cues from the US Federal Reserve and inflation data. The US central bank’s decision to keep rates unchanged and the softer than expected inflation data have cheered markets globally.
Investors are also keeping an eye on US Treasury yields, which dropped after the Fed policy announcement, and oil prices, which fell as US crude stockpiles rose more than expected.
Overall, the market sentiment remains positive, with investors looking for opportunities in both domestic and global markets. Stay tuned for more updates on the Indian stock market as it opens higher today.
