The Sensex and Nifty 50, the two main Indian indices, are anticipated to open higher on October 9th, taking cues from the GIFT Nifty, which was trading at 25,154 this morning.
With the exception of metals, buying activity in most sectors drove Indian equity indices to close above 25,000 on October 8, ending a six-day losing skid. This rebound precedes tomorrow’s expected policy statement from the Reserve Bank of India.
Rising Middle East tensions were blamed for the prior market drop, which depressed investor mood and caused international institutional investors to dump $6 billion worth of shares.
In the Asia-Pacific region, markets rebounded on Wednesday after a broad decline in the prior session, supported by a rally on Wall Street overnight. U.S. stocks closed sharply higher, with the benchmark S&P 500 recovering from a nearly 1% drop the previous day. Technology stocks provided significant support, surging by more than 2%.
The Dow Jones Industrial Average increased by 126.13 points (0.30%) to 42,080.37, the S&P 500 rose by 55.19 points (0.97%) to 5,751.13, and the Nasdaq Composite gained 259.01 points (1.45%) to reach 18,182.92.
On October 8, foreign institutional investors sold equities worth ₹5,729 crore, while domestic institutional investors purchased equities totaling ₹7,008 crore.
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