Stock Market Today: Insights on Sensex and Nifty Amid Global Market Cues

Tuesday, 1 October 2024, 05:33

Stock market today sees the Indian stock market bracing for cautious trades as investors react to key developments. With the Sensex and Nifty 50 showing signs of volatility, traders are focused on global cues and Jerome Powell's statements regarding the US Fed rate cut. Mixed results from Asian markets alongside US indices reaching new highs create a backdrop of uncertainty.

Livemint — Stock Market Today: Insights on Sensex and Nifty Amid Global Market Cues

Market Overview

In stock market today, the Indian stock market faces cautious trading as mixed cues from global markets and recent comments from US Fed Chair Jerome Powell influence investor sentiment.

Key Points

The Sensex fell 1,272.07 points to close at 84,299.78.
Nifty 50 settled down 368.10 points at 25,810.85.
Gift Nifty traded around 26,000, signaling a flat start.

Global Market Cues

Asian markets reacted to Jerome Powell's hawkish tone on potential interest rate adjustments, causing mixed trading results.

US Market Performance

Last night, the US stock market saw the S&P 500 and Dow Jones reaching all-time closing highs, with Jerome Powell's commentary on ongoing economic growth boosting market confidence.

Fiscal Updates from India

India's fiscal deficit for April-August stood at ₹4.35 lakh crore, significantly lower compared to the previous fiscal year. The current account deficit widened to 1.1% of GDP.

Outlook

Market analysts anticipate consolidation in the near term, with a focus on the upcoming Q2FY25 result season.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.