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Sensex Today Live | Share Market updates: Indian stock market benchmark indices, Sensex and Nifty 50, are anticipated to open lower on Wednesday, reflecting mixed global market signals. Trends in Gift Nifty also suggest a subdued start for the Indian benchmark indices.
On Tuesday, Indian stock market indices ended flat due to weak global cues, “After a sharp upmove recently, the market showing such formations in the last two sessions indicates the possibility of a minor downward correction in the short term. Nifty is currently placed at the hurdle of 23,400 – 23,500 levels (1.382% Fibonacci projection), weekly hanging man, and the opening downside gap of 4th June, which are weighing heavily on the market to sustain the new all-time highs,” said Nagaraj Shetti, senior technical research analyst at HDFC Securities.
Asian markets traded mixed in early trade. The US stock market also ended mixed on Tuesday, with the S&P 500 and Nasdaq hitting record closing highs for the second consecutive day ahead of consumer prices data and a policy announcement from the Federal Reserve.
Back home, all eyes will be on the CPI inflation data to be released post-market hours today. India’s retail inflation was likely steady at 4.8% in May, compared to 4.83% the previous month, as a sequential rise in food prices was offset by low core inflation, a median estimate of 15 economists polled by Mint showed.
Sensex Today Live: Union Bank, HCL Tech, IndiGo, SBI, Wipro, Tube Investments are some stocks in news today
Besides Union Bank, HCL Tech, IndiGo, SBI, Wipro, and Tube Investments, Balrampur Chini Mills, GMR Airports Infrastructure, Hindustan Copper, India Cements, SAIL, and ZEE are the six stocks on the NSE’s F&O ban list for Wednesday
Sensex Today Live: India to see 6.7% growth between 2024 and 2026: World Bank
The Indian economy, buoyed by strong domestic demand, a surge in investment and robust services activity, is projected to grow an average of 6.7% per fiscal year from 2024 through 2026, making South Asia the world’s fastest-growing region, the World Bank said on Tuesday.
In its latest Global Economic Prospects report, the World Bank said India will remain the fastest-growing large economy. According to the forecast, India is set to report 6.6%, 6.7% and 6.8% growth, respectively, in FY24, FY25 and FY26.
By comparison, global growth is projected to hold steady at 2.6% in 2024 before edging up to an average of 2.7% in 2025 and 2026, respectively.
Sensex Today Live: Federal Reserve expected to maintain interest rates as inflation data looms
The US Federal Reserve policy meeting began on 11 June, with widespread expectations that the central bank will keep interest rates unchanged. The Jerome Powell-led Federal Open Market Committee (FOMC) is anticipated to maintain its guidance of keeping rates elevated, adhering to the status quo in the current policy meeting.
On Wednesday, the US will release its latest update on inflation at the consumer level, and the Federal Reserve will announce its latest interest rate decision. Additionally, the US will release its latest update on prices at the wholesale level on Thursday.
Sensex Today Live: Wall Street ends mixed; S&P 500 and Nasdaq hit record highs
Wall Street saw a mixed close on Tuesday, with the S&P 500 and Nasdaq Composite reaching new record highs for the second day in a row. The subdued trading session occurred ahead of a crucial inflation report and the Federal Reserve’s latest interest rate policy decision, expected on Wednesday.
The S&P 500 gained 0.3%. The tech-heavy Nasdaq Composite rose 0.9%.
Sensex Today Live: Asian markets mixed as traders await Federal Reserve’s policy decision and US inflation data
Asian markets were mixed as traders anticipated the Federal Reserve’s policy decision and upcoming US inflation data. The euro struggled to recover from a sell-off driven by European political uncertainty.
Markets in Hong Kong, Shanghai, and Sydney all declined, while Tokyo, Seoul, Bangkok, and Mumbai managed to edge up.
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