The Indian stock market is showing a steady upward trend. In which the inflation rate in the US in April was 4.9 per cent as expected. In the Indian market today, the Sensex rose by 100.80 points to reach 62,052. While the Nifty has seen a normal gain of 15 points.
The Nasdaq index of tech shares closed up nearly 1 percent on Wednesday after the release of U.S. retail inflation data. While the S&P 500 index also saw a rise of about half a percent. However, the Dow Jones closed down by 0.09 per cent yesterday. US retail inflation came in at 4.9% in April, lower than expected. Airbnb also closed down 10.9% yesterday and Twilio closed down 12.6%. European markets closed marginally lower yesterday following the release of US inflation data. Yesterday, the biggest decline in the market here was seen in food and beverage stocks. The Bank of England will decide on interest rates today. It is believed that BoE may announce a rate hike for the 12th consecutive time.
Market is faster than pre-open
Even before the start of today’s trading, signs of a boom were visible in the local stock market. In Singapore, NSE Nifty, SGX Nifty futures were trading up nearly 100 points in the morning. This indicates that there may be a good start in the domestic market today. Both Sensex and Nifty were in the green in the pro-open session. Before the start of the session, the Sensex saw a gain of about 180 points, while the Nifty saw a gain of about 50 points.
BSE’s 30-share index Sensex surged over 200 points to cross the 62,150 mark when the market opened at 09:15 am. The Nifty was trading close to 18,360 after gaining nearly 45 points. Today’s business is expected to be brisk in the domestic market.
Mixed trend in global markets
There is a mixed trend in the global markets. On Wednesday, there was a slight recovery in the American stock markets. The Dow Jones Industrial Average was down 0.09 percent, the S&P 500 was down 0.45 percent, while the tech-focused Nasdaq Composite Index was up 1.04 percent. In today’s business, a similar trend is being seen in the Asian markets as well. Japan’s Nikkei was down 0.27 per cent, while Hong Kong’s Hang Seng was up 0.12 per cent and South Korea’s Kospi was up 0.30 per cent.