GIFT Nifty:
Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 37 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading lower on Thursday as sentiment remained strained ahead of key U.S. inflation data and addresses by Federal Reserve officials.
Wall Street indexes rose sharply on Wednesday, rebounding after three days of losses as a drop in bond yields help spur strong gains in utility stocks. S&P 500 closed at record high.
Fed Governor Christopher Waller said that there is no hurry to cut interest rate right now. Current inflation reading suggests rates can stay at current level for longer to bring down the inflation sustainably to 2% target rate, Waller reportedly said at Economic Club in New York.
Markets are now awaiting more cues on inflation from PCE price index data- which is the Feds preferred inflation gauge. The data is due on Friday, when markets will be closed, but is largely expected to factor into the outlook for U.S. interest rates. Along with the PCE data, addresses from Fed Chair Jerome Powell is also due on Friday.
More From This Section
Domestic markets:
Back home, the domestic equity benchmarks surged on Wednesday despite mixed global cues. In the barometer index, the S&P BSE Sensex jumped 526.01 points or 0.73% to 72,996.31. The Nifty 50 index gained 118.95 points or 0.54% to 22,123.65.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,170.32 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,197.61 crore in the Indian equity market on 27 March, provisional data showed.
Powered by Capital Market - Live News