The Indian stock market is set to open on a negative note today, following weak cues from global markets. The Gift Nifty futures were trading below Tuesday’s close, indicating a slow start for Indian benchmarks. Asian shares were down, with concerns about US Federal Reserve rate cuts and a powerful earthquake in Taiwan impacting investor sentiment.
On Wall Street, the three major indexes fell about 0.7%-1% as solid US economic data raised doubts about the extent of Fed easing. Long-term Treasury yields climbed to multi-month highs before paring some gains. Oil prices rose for the fourth consecutive day due to geopolitical tensions, while gold prices hit a record high.
In India, the Sensex and Nifty 50 are expected to open lower, with investors closely watching global developments and economic data. The market is likely to be influenced by factors such as US Fed Chair Jerome Powell’s speech, euro zone inflation data, and OPEC meeting outcomes.
Overall, the Indian stock market is bracing for a slow start today, with investors keeping a close eye on global trends and economic indicators for further direction.
