Share Market News Today | Sensex, Nifty, Share Prices LIVE: GIFT Nifty was trading up 83 points or 0.34% at 24,328, indicating a positive start for the domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Following the record gains in the overnight US market and dovish tone by Fed Chair Jerome Powell, Asian markets opened on a mixed note on Wednesday morning. Japan’s Nikkei 225 was trading up 0.68% at 40,346. The Korean index Kospi was down 0.06% at 2,779.32. The Asia Dow was trading 0.36% higher at 3,599.34. Hang Seng was trading 0.41% higher at 17,841.77. The benchmark Chinese index Shanghai Composite was also flat at 2,996.87.
WTI crude prices were trading at $83.12 up by 0.37%, while Brent crude prices were trading at $86.54 up by 0.35%, on Wednesday morning.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading up 0.03% at 105.71 on Wednesday morning.
The Wall Street or US markets closed on a record high note after Jerome Powell, Fed Chairperson, said that the US is on a disinflationary path but not ready for a rate cut. The broader market index, the S&P 500, advanced 0.62% to close at 5,509, marking its frist close above the psychological level of 5,500. Similarly, the tech-heavy Nasdaq Composite rose 0.84% to settle at 18,028.76, closing at a record high, buoyed by a 10% jump in Tesla shares. Following the trend, the Dow Jones Industrial Average gained 162.33 points, or 0.41%, to end at 39,331.85.
The U.S. is back on a “disinflationary path,” Federal Reserve Chair Jerome Powell said on Tuesday. However, policymakers need more evidence before cutting interest rates to verify that recent weaker inflation readings provide an accurate picture of the economy. “I think the last reading … and the one before it to a lesser suggest that we are getting back on the disinflationary path,” Powell said, reported Reuters. “We want to be more confident that inflation is moving sustainably down toward 2% … before we start … loosening policy.”
