Markets may see a muted day today

18 Sep 2024 , 07:33 AM

Indian markets may open flat to positive on Wednesday, September 18 amid uncertainty on Federal Reserve’s policy decision. The GIFT Nifty was trading around 16 points up at 25438 at 7 am IST.

On September 17, Nifty 50 closed at record highs at 25,418.55 points, 0.15% or 34.80 points up while Sensex closed its day at 83,079.66 points, 0.11% or 90.88 points up.

Global Markets:

Asian stocks advanced as investors awaited the Federal Reserve’s policy decision, with uncertainty over the magnitude of the anticipated rate cut fueling interest in risk assets. Japanese equities rallied, supported by a weaker yen that benefited exporters.

The US Stock market saw a flat day on Tuesday, shredding the early gains which helped S&P 500 and Dow Jones to reach record highs. Investors maintained caution ahead of the Federal Reserve’s first rate cut in four and a half years. Earlier in the day session, the S&P 500 briefly hit 5,670.81, supported by fresh economic data that eased fears of a significant downturn in the U.S. economy.

The net long positions of FIIs decreased from ₹2.13 lakh crore on Monday to ₹2.2 lakh crore on Tuesday.