Now Reading: Mild US Inflation Lifts Sentiment, But Gift Nifty Suggests Weak Open
-
01
Mild US Inflation Lifts Sentiment, But Gift Nifty Suggests Weak Open
Mild US Inflation Lifts Sentiment, But Gift Nifty Suggests Weak Open
Asian markets rallied and US stocks ended mostly higher after mild US inflation data eased fears of a Federal Reserve rate hike. But Gift Nifty was hinting at a negative open for…
The Story in Brief
Asian markets rallied and US stocks ended mostly higher after mild US inflation data eased fears of a Federal Reserve rate hike. But Gift Nifty was hinting at a negative open for Sensex and Nifty 50 on August 13, ndtvprofit reported. South Korea’s Kospi jumped 3.13%, Japan’s Nikkei 225 gained 1.5%, while Australia’s S&P/ASX 200 declined 0.6%.
The mild US inflation print has calmed rate hike fears globally. However, domestic factors such as India’s own inflation reading and the MSCI rejig will also influence trade today.
The Indian Opinion
Markets fixate on a single data point, this time US inflation, as if nothing else matters. Indian retail investors would do well to remember domestic inflation data is also due today. That number, and whether it stays within the RBI's comfort zone, will shape the real direction. The Nifty's ability to hold 24,000 after the initial euphoria fades will be the true test.
Sources (3): ndtvprofit.com, ndtvprofit.com (2), ndtvprofit.com (3)
This story was synthesised by AI from the 3 sources linked above.
