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Mumbai: Indian <keyword id="19900617" type="General" weightage="20" keywordseo="stock-markets" source="keywords">stock markets</keyword> opened at a new high on Friday, with both indices continuing the bull run. The <keyword id="20641216" type="General" weightage="20" keywordseo="Nifty-50" source="keywords" meta.keywordsubtype="org" meta.entityname="Nifty 50" meta.hostid="261" meta.entityid="Nifty 50">Nifty 50</keyword> index opened closer to its 52-week high, while the <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> opened above the 83,000 mark for the first time. The Nifty 50 index opened at 25,430.45, gaining 41.55 points or 0.16 percent, while the BSE Sensex opened at 83,091.55 points, a surge of 128.84 points or 0.16 percent. Global markets are rallying ahead of the Fed rate cuts, and <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> are continuously reaching new highs, reflecting strong investor confidence. "The focus is totally on the Fed action and Fed speak of Sep 18th. But the Sep 12th Indian markets action is pointing to a classical flows pattern of equity markets getting inflows as the US dollar weakens on the back of Fed rate cuts. Markets will move sharply in anticipation of this. Some minor risk off is possible early next week, in the lead up to the FOMC announcement on Sep 18th night time in India. FIIs have cut the "caution" out from our "cautious optimism" and made us ardently "optimistic" said Ajay Bagga, Banking and market expert. In the sectoral indices on the National Stock Exchange, Nifty Media led in gains, followed by Nifty Metal and Nifty PSU Bank. In the Asian markets on Friday, there was mixed movement, with Japan's Nikkei index falling 0.89 percent, along with flat movement in South Korea's KOSPI. Meanwhile, Hong Kong's stock index surged 1.16 percent, and Taiwan's Taiwan Weighted also gained marginally, by 0.14 percent at the time of filing this report. The U.S. markets on Thursday marked the fourth consecutive session of gains, with the S&amp;P index gaining 0.75 percent, while the Nasdaq surged 1 percent by the closing bell. The European markets also closed with positive gains after the EU announced rate cuts of 25 basis points. Germany's DAX surged 1.02 percent, France's CAC index gained 0.51 percent, while the UK's FTSE index gained 0.57 percent on Thursday. The Indian stock markets hit a record-breaking milestone on Thursday, with both Sensex and Nifty closing at record highs. This surge was driven by broad-based buying across sectors, reflecting strong investor confidence and robust market sentiment. The Sensex skyrocketed by 1,439.55 points to close at 82,962.71, while the Nifty surged by 395.40 points, closing at 25,313.85 points.

Indian markets open at record high, Sensex above 83,000 and Nifty above 25,400

For the first time since 202o, the US <keyword id="19904332" type="General" weightage="100" keywordseo="Federal-Reserve" source="keywords" meta.keywordsubtype="org" meta.entityname="Federal Reserve" meta.hostid="261" meta.entityid="Federal Reserve">Federal Reserve</keyword> cut down the benchmark <keyword id="19950650" type="General" weightage="20" keywordseo="interest-rates" source="keywords">interest rates</keyword> by 50 basis points , bringing the target rate range to 4.75%-5%, from its previous scope of 5.25% to 5.5%. The decision, which was taken 11:1, was not unanimous, a striking departure from all other unanimous interest rate decisions taken by Fed over the last 2 years. Per chairman <keyword id="20058769" type="General" weightage="20" keywordseo="jerome-powell" source="keywords">Jerome Powell</keyword>, the decision was taken in light of easing inflationary pressures in the US economy, which came down to 2.53% this month, as opposed to 2.89% a month prior, and 3.67% last year. "In light of the progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent. In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective", the FOMC committee highlighted in its statement. Signaling more aggressive rate cuts going ahead, Fed projections implied an additional 50 bps rate cut from current levels within 2024, with rate trims going as high as 100 bps in 2025, and another 50 bps in 2026. Notably, last month, Powell had strongly hinted towards a rate cut, saying it was "time for policy to be adjusted". Over the last few years, high interest rates had made home equity loans and credit card interest rates super expensive. In March 2022, which was the first time Fed hiked interest, rates on home equity loans stood at 5.96%%. This has jumped to 8.49% in September 2o24. At 20.78%, credit card interest rates have also been sky-high, swelling by over 400 basis points since March 2022. Indian markets stay flat On Wednesday, Indian equity markets maintained a cautious outlook, with <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> and Nifty50 dipping by 0.16% each to close the day in red. During the day, both Sensex and Nifty scaled record highs of 83,326.38 points, and 25.377.55 points respectively. Most market experts anticipated a 25-bps rate cut, but with Fed delivering a mammoth-size cut, the focus is now set to shift from inflation to unemployment, with the rate cut offering much-needed, immediate relief to US economy, which has, for long, been battling high borrowing costs. Per Fed officials, unemployment is set to rise to 4.4% this year, up from its present rate of 4.2%, as recorded in August. Per Bloomberg reports, shortly after the announcement, gold prices also jumped to record highs. The prices of yellow metal were already hovering near all-time highs ahead of the announcement. A rate cut pushes to weaken the greenback, which is what gold is priced in internationally. This makes bullion cheaper, pushing up its demand globally.

Fed trims interest rates by 50 basis points, gold prices touch record-high

Mumbai: Indian stock markets rallied on Monday after the <keyword id="20032950" type="General" weightage="20" keywordseo="BJP-led-government" source="keywords">BJP-led government</keyword> secured a majority in the latest state elections in Maharashtra. The <keyword id="20641216" type="General" weightage="100" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> index gained more than 1.45 per cent or 346.30 points to open at 24,253.55 points, while the BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> index surged 1,076 points or 1.36 percent to open at 80,193.47 points. Experts noted that the election results have an impact on the markets today, and if past trends are followed, the markets may witness some rally amid the return of the BJP in the Maharashtra state elections. <keyword id="20161891" type="General" weightage="20" keywordseo="Ajay-Bagga" source="keywords">Ajay Bagga</keyword> Banking and Market Expert stated that "The just concluded elections in Maharashtra, the results of which were declared on November 23rd, will have a positive immediate impact on the stock markets. The landslide win for the BJP lead coalition in the Maharashtra state elections could lead to a short-term boost to the Indian stock markets which have been in a declining mode" He further added "Investors will interpret this mandate as favourable for the capex and infrastructure push that is ongoing in Maharashtra. The beneficiary sectors of this election are industrials, infrastructure, manufacturing, real estate and financials". In the sectoral indices on the National Stock Exchange, <keyword id="20065014" type="General" weightage="20" keywordseo="Nifty-Realty" source="keywords">Nifty Realty</keyword> and <keyword id="19941314" type="General" weightage="20" keywordseo="Nifty-PSU-Bank" source="keywords">Nifty PSU Bank</keyword> rallied with a surge of more than 2 percent, while other major indices also gained more than 1.5 per cent, including Nifty Metal, Nifty Media, and Nifty Oil &amp; Gas. In the Nifty 50 list, 49 stocks gained during the opening session, while only one stock declined. Shri Finance opened as the top gainer in the Nifty 50. The shares of the AdGroup also surged around 2 percent at the time of filing this report. <keyword id="19967296" type="General" weightage="20" keywordseo="Adani-Green" source="keywords">Adani Green</keyword> also climbed around 4 percent. "We are most likely to break the falling 20-day average that lies at 24,030, which will be the first time that'd happen since the record high of 27th September. Seasonality trends between now and the end of the year have been historically positive, with the Nifty rising 80% of the time during this period with an average return of over 4 per cent" Akshay Chinchalkar, Head of Research, Axis Securities. In other Asian markets, Japan and South Korea indices rallied. The Nikkei 225 index surged more than 1.5 percent, South Korea's Kospi also rose by 1.5 percent, Taiwan's Weighted Index was up by 0.48 percent, while Hong Kong's Hang Seng index was down marginally by 0.14 percent at the time of filing this report.

Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

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Indian markets open at record high, Sensex above 83,000 and Nifty above 25,400

ANI

Fed trims interest rates by 50 basis points, gold prices touch record-high

Ira Alok Puranik

Nifty, Sensex rallied around 1.5 % after Maharashtra election results, Experts noted short term rally

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