Ahead of Market: 10 things that will decide stock market action on Thursday
benchmark indices closed flat on Wednesday, with gains in consumer and IT stocks, as market participants awaited key inflation data from U.S and India for cues into the rate trajectories of the two countries.
The benchmark S&P BSE Sensex rose 16.09 points or 0.02% to settle at 81,526.14, while the broader Nifty 50 index closed at 24,641.80, higher by 31.75 points or 0.13%.
Here's how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said the Indian market exhibited subtle movements, reflecting mixed sentiments prevailing in global markets ahead of the US CPI inflation data release, which could influence the U.S. FED policy.
“The US dollar strengthened, while bond yields saw a marginal uptick. Defensive sectors, including FMCG and pharmaceuticals, experienced an uptick. Additionally, the metals sector saw gains driven by optimism surrounding potential stimulus measures from China,” Nair added.
US markets
U.S. stock markets advanced on Wednesday after inflation data matched forecasts, reinforcing expectations for a Federal Reserve rate cut later this month.
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