Stock Market Today: Insights for Sensex and Nifty Trading on September 13

On stock market today, Indian benchmark indices—Sensex and Nifty—are likely to edge higher after hitting record highs in the previous session. At around 7:39 AM, GIFT Nifty futures were up 57 points at 25,391. Domestic benchmark indices on Thursday closed at record high levels, with gains of over 1 per cent each. Sensex added 1,439.55 points or 1.77 per cent to settle at 82,962.71. The 30-scrip index surpassed 83,000 for the first time. Nifty50 settled higher at 25,388.90, up 470.45 points or 1.89 per cent, breaching key level of 25,400.

Further, India's Consumer Price Index (CPI) for August was 3.65 per cent, slightly above market expectations. The industrial production growth slowed marginally to 4.9 per cent month-on-month for March 2024.

With regards to U.S. market performance, the anticipation of a Federal Reserve rate cut influenced gains on Thursday. The Dow Jones rose 0.58 per cent, S&P 500 0.75 per cent, and Nasdaq Composite 1 per cent.

In the Asia-Pacific markets today, results were mixed with Nikkei down 0.43 per cent while ASX 200 gained 0.46 per cent.

Globally, triggers include the anticipated ECB rate cut as inflation moves closer to targets amidst economic slowdown concerns.

As for the oil sector, prices remained stable, with Brent crude futures up 0.5 per cent at $72.33 per barrel.

Market analysts predict key levels of 25,000 and 81,800 will be crucial for bullish sentiment today.

Also on IPO watch, Western Carriers’ IPO opens today along with various SME IPOs including Envirotech Systems.

Foreign Institutional Investors and Domestic Institutional Investors had contrasting dealings; FIIs were net buyers worth Rs 7,695 crore while DIIs sold equities worth Rs 1,800.54 crore.