GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may open on a higher note on Thursday. Also, Asian markets are trading in the green following the overnight cues from US markets.
Previously, on Wednesday, the NSE Nifty 50 finished the session 26 points or 0.12% lower at 23,045.25, while the BSE Sensex lost 122.52 points or 0.16% to close at 76,171.08.
Key global and domestic cues to know on February 13, 2025 IT Bill to be tabled today
The New Income Tax Bill will be tabled by Finance Minister Nirmala Sitharaman in the Parliament today. It is expected to be shorter, more succinct and easier to understand.
Asian Markets
Asia markets traded on a higher note despite a fall in overnight US markets. Japan’s Nikkei 225 was trading 1.14% higher at 39,416.08. The Asia Dow was trading 0.08% higher at 3,804.96. South Korea’s Kospi rose 0.96% in early trade hours. The Shanghai Composite was trading 0.24% lower at 3,338.22. Hong Kong’s key index Hang Seng was trading 0.46% higher at 21,963.39.
US markets
The US stock markets closed Wednesday’s trade on a lower note after headline consumer inflation rose more than expected in January, raising brows for the delay in rate cuts. The S&P 500 lost 0.27% to finish at 6,051.97. The Dow Jones Industrial Average declined 225.09 points, or 0.5%, to 44,368.56. Nasdaq Composite gained 0.03% to end at 19,649.95.
US CPI inflation
The consumer price index increased 3% in January compared to the last year, a report from the Labor Department showed. It was up from 2.9% reported in December. It has grown from a three-and-a-half-year low of 2.4% in September.
IIP numbers
The index of industrial production (IIP) grew by 3.21% in December from 4.96% in November, on account of a deceleration in manufacturing growth. “This can be attributed to weaker manufacturing growth at 3% in December (Vs 5.5% in November) partly weighed by an unfavourable base. With this, the IIP growth improved to 3.9% in Q3 FY25 from a 2.7% growth in the previous quarter,” said Rajani Sinha, Chief Economist at CareEdge Ratings.
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