Stock Market LIVE: Sensex up 620pts, Nifty above 25,000; IT, consumer durables, Oil & Gas gain most | News on Markets
Stock Market LIVE Updates: Indian benchmark indices S&P Sensex and Nifty 50 were climbing on Monday, after US Federal Reserve Chairman Jerome Powell’s speech indicated that an interest rate cut cycle by the US central bank was not too far away.
Around noon, the S&P Sensex was at 81,712, up 0.77 per cent, while the Nifty 50 was at 25,009 levels, up 0.75 per cent.
That apart, Asian shares crept cautiously higher, while the dollar and bond yields were on the wane ahead of inflation data that investors hope will pave the way for rate cuts in the United States and Europe.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4 per cent, after rising 1.1 per cent last week, while South Korea’s Kospi rose 0.3 per cent.
Japan’s Nikkei eased 0.7 per cent as a stronger yen pressured exporter stocks.
Australia’s S&P/ASX 200 was up by 0.61 per cent. Hong Kong’s Hang Seng index was up by 0.89 per cent at 17,768 levels.
After Jerome Powell’s dovis comments on Friday, the US markets had closed sharply higher.
The Dow Jones Industrial Average had risen 1.14 per cent, to 41,175.08, the S&P 500 had gained 1.15 per cent, to 5,634.61 and the Nasdaq Composite had added 1.47 per cent, to 17,877.79.
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