- India‘s blue-chip indexes Nifty 50 and Sensex opened higher and reached new all-time highs on Thursday.
- China and Hong Kong markets closed roughly flat, with car stocks recouping some of their losses.
- ETH was trading over the 1,600 mark while Bitcoin (BTC) increased by 1.38% to $26,260.
The sentiment brightened as U.S. inflation statistics solidified the likelihood of a pause in the Federal Reserve’s rate hike cycle, and India’s blue-chip indexes Nifty 50 and Sensex opened higher and reached new all-time highs on Thursday.
By 9:15 a.m. IST, the S&P BSE Sensex had increased 0.24% to 67,627.03, while the Nifty 50 had increased 0.29% to a new all-time high of 20,127.95. Since July 20 the Sensex hadn’t reached a record high.
Sensex and Nifty
After the European Union’s anti-subsidy probe, China and Hong Kong markets closed roughly flat, with car stocks recouping some of their losses. Investors kept looking for changes in policy and indications of an improving economy. Shanghai Composite Index and China’s blue-chip CSI 300 Index both ended the day essentially unchanged, while Hong Kong’s benchmark Hang Seng Index moved up 0.2%.
Fitch Ratings kept India’s FY’24 growth prediction at 6.3%, citing the country’s robust economy despite tighter monetary policy and a decline in exports. During the April–June quarter of the current fiscal, the Indian economy expanded by 7.8% thanks to strong services sector activity and high demand.
The subscription period for JSW Infrastructure’s initial public offering (IPO) will begin on September 25 and end on September 27. The offer, a new issue with a value of Rs 2,800 crore, submitted a draft prospectus to Sebi in May of this year and just recently gained approval for it. Soon, the issue’s pricing range will be revealed.
After US consumer pricing data revealed that core inflation dropped to 4.3% in August from 4.7% in July, major cryptocurrencies traded higher on Thursday as rate concerns eased. However, due to higher gas costs, overall retail inflation increased by 3.7% in August, the largest in 14 months.
Ethereum (ETH) was trading over the 1,600 mark while Bitcoin (BTC) increased by 1.38% to $26,260. Around $1.04 trillion worth of cryptocurrencies were trading at a higher price, up 1.38% in the previous day.
With all eyes on the European Central Bank to announce a further increase in interest rates for the eurozone, European stock markets were stable at the start of trading on Thursday.
Although participation in gold has been rising despite the current price decrease, global participation is still at low levels, creating the perfect conditions for a gold rally once participation rises.
