Sensex in trend:
India’s equities surged by 239 points or 0.3% to reach 80,199 in morning trade on Tuesday, reversing losses from the previous two sessions and achieving a fresh record peak. This rise is fueled by hopes for a dovish statement from the Fed Chair.
The BSE Sensex mirrored the record highs of Wall Street’s S&P and Nasdaq from the previous night, with market participants eagerly awaiting CPI data and Fed Chair Jerome Powell’s testimony for indications on future interest rate trends.
On the domestic front, fresh data from the RBI revealed that the employment rate in India increased to 6% in FY2024 from 3.2% in FY2023.
The Nifty 50 index climbed 0.1% to surpass 24,300, driven by gains in the auto, PSU Bank, and consumer durables sectors. Notable contributors included Maruti Suzuki (4.8%), Cipla (1.5%), Hero MotoCorp (1.3%), Titan (1.2%), and ITC (1.1%).
Investors are also looking forward to several key Chinese economic reports in the coming days, including consumer and producer prices and trade data expected this week.
