- US and Asian markets have rallied, with US stocks advancing on Friday, leading to the S&P closing at a record high after a soft jobs report eased concerns about interest rate hikes by the Federal Reserve.
- Trends on GIFT Nifty indicate a flat opening for Indian indices, with the index trading marginally higher by 14.5 points, or 0.06%, at 24,656.0 points as of 07:14 AM.
- Asian share markets have tracked Wall Street higher, reflecting a positive sentiment following the U.S. jobs report, which has reduced the risk of a near-term rise in borrowing costs.
GIFT Nifty indicates a flat opening for Indian indices as US stocks advanced, with the S&P 500 closing at a record high of 7,757.64, following a report showing the US economy unexpectedly shed jobs last month. This data has dampened expectations for a Federal Reserve interest rate hike in September.
The Dow Jones Industrial Average rose by 151.83 points, or 0.28%, to 54,036.93, while the Nasdaq Composite gained 342.26 points, or 1.30%, reaching 26,690.62. The positive sentiment in the US markets has spilled over to Asia, where the Nikkei surged by 2% and the Taiwan Weighted index increased by 1.8%.
As the Indian markets prepare to open, the GIFT Nifty is trading higher, reflecting the optimism from global markets. Investors are keenly watching for further economic indicators, especially as the Dollar hovers near a two-month low, awaiting upcoming US inflation data.
Overall, the combination of a strong performance in US and Asian markets, along with easing rate-hike concerns, sets a positive tone for Indian indices as they gear up for the trading day ahead.
“GIFT Nifty futures traded around 24,678.50, up 37 points or 0.15%, signaling a muted start. Meanwhile, the S&P 500 closed at a record high after a soft US jobs report eased rate-hike concerns, with the Dow up 151.83 points.”
