The Indian stock market is set to open on a positive note on Thursday, following global trends after the US Federal Reserve maintained its stance on three interest rate cuts this year. The Sensex and Nifty 50 are expected to start the day on a strong footing.
Asian markets, including the Nikkei, reached new all-time highs, while US stock indices closed at record levels overnight. The positive sentiment in global markets is likely to influence the Indian market positively.
The Gift Nifty futures were trading significantly higher before the market opening, indicating a gap-up opening for the Nifty 50. The Gift Nifty was trading around 22,080, which is almost 170 points higher than the previous close.
Investors are optimistic about the market outlook as the Federal Reserve’s decision to stick to its interest rate cut plans has boosted confidence. The US dollar slightly declined, and traders increased their expectations for a rate cut in June.
Gold prices surged to a record $2,222 an ounce, reflecting the market’s anticipation of lower interest rates. Japan’s Nikkei also rose to a new peak above 40,000 in early trade.
Overall, the global market trends are positive, and the Indian stock market is expected to rally following the Fed’s decision and the strong performance of international markets.
