At 7:20 AM, GIFT Nifty futures were trading approximately 8 points higher at 25,998 against Nifty futures close, suggesting a muted opening.
the S&P 500 reached a record high, rebounding after a brief dip, as Federal Reserve Chair Jerome Powell signalled a cautious approach regarding further interest rate cuts.
The S&P 500 and Nasdaq gained 0.42 per cent and 0.38 per cent, respectively, while the Dow Jones increased by 0.04 per cent.
Powell, at a National Association for Business Economics conference in Nashville, Tennessee, stressed upon the Fed’s preference for gradual quarter-percentage-point cuts, citing sustained economic growth and consumer spending as key factors.
Asian markets showed mixed results on Tuesday, reacting to Powell’s remarks. Japan’s Nikkei 225 rebounded 1.07 per cent after a sharp 4.8 per cent drop on Monday, while the Topix rose 0.88 per cent. Conversely, Australia’s S&P/ASX 200 fell by 0.47 per cent, pulling back from an all-time high.
On the data front, Japanese business sentiment remained steady, with large manufacturers reporting a +13 rating, unchanged from the previous quarter. The unemployment rate in Japan improved to 2.5 per cent, down from 2.7 per cent in July.
Several Asian markets, including South Korea, Hong Kong, and mainland China, are closed for a public holiday, with China observing the Golden Week for the remainder of the week.
Geopolitical tensions are escalating as Israeli airstrikes target Hezbollah positions in southern Lebanon. The Israeli military has commenced a “limited, localised” operation, raising concerns about regional stability, according to several reports.
The Securities and Exchange Board of India (Sebi) has approved the introduction of a new asset class aimed at offering more flexibility to fund managers and targeting risk-oriented investors. The board also endorsed the liberalised Mutual Funds Lite (MF Lite) framework, focusing on passively managed schemes.
