Indian Stock Markets Surge on Global Cues and US-India Relations Optimism
Indian equity indices opened strong on Monday, buoyed by global cues and positive sentiment towards US-India relations under the Trump-Modi leadership. The Nifty 50 gained 0.25%, while Sensex rose 0.23%. Optimism was further fueled by a weak US jobs report and expectations of a Federal Reserve rate cut.
- Country:
- India
Indian stock markets opened positively on Monday, bolstered by favorable global trends and optimism regarding US-India relations under President Trump and Prime Minister Modi. The Nifty 50 index rose by 61.60 points, reaching 24,802.60, while the Sensex increased by 189.63 points, hitting 80,900.39 at the opening bell.
Market sentiment gained further momentum with the subdued US jobs report, raising expectations for a Federal Reserve rate cut at its September 17 meeting. Banking expert Ajay Bagga noted that optimism regarding bilateral ties and anticipated US monetary easing are significant factors driving early trade. Meanwhile, political changes in Japan also affected market dynamics as Prime Minister Ishiba resigned due to pressure over a US trade deal.
Domestic markets reflected the trend with broader indices gaining in early trade. Notable sectoral performance was seen in Nifty Auto, Nifty FMCG, and Nifty IT, indicating strength despite some technical challenges highlighted by analyst Sunil Gurjar. Simultaneously, global developments, such as anti-immigration actions in the US, also played a role in shaping investor sentiment across Asia.
(With inputs from agencies.)
Google News