Stock Market Today: Indian Stock Market Rises with Strong Nifty 50 Performance
Overview of Stock Market Today
The stock market today experienced a rebound, with the Indian stock market closing positively. The Sensex today ended at 81,560, climbing 376 points or 0.46%. Meanwhile, the Nifty 50 today gained 84 points to close at 24,936.40.
Key Contributors to the Gains
- ICICI Bank
- HDFC Bank
- ITC
- Hindustan Unilever (HUL)
These major banking and FMCG stocks played a crucial role in pushing the benchmarks up. Despite this positive momentum, midcaps today and smallcaps today struggled.
Market Influences and Future Outlook
Investors are now keenly awaiting the upcoming US inflation numbers, specifically the Consumer Price Index (CPI) due on Wednesday, which could determine the direction of the Federal Reserve's monetary policy moving forward. Experts are pricing in a 69% chance of a 25 basis point rate cut at the next Fed meeting scheduled for September 17-18.
However, indications of a slowdown may prompt a more aggressive cut of 50 basis points, raising questions on how global trends will affect the Indian stock market.
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.