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The market is likely to open on a tepid note today following mixed cues from global peers. Stocks in the Asia-Pacific region rose in early trade on Wednesday after Chinese authorities eased liquidity to boost economic growth. The gains were also fuelled by Wall Street posting a new record on further rate cut hopes after a disappointing consumer confidence report. The US stocks hit fresh records with the S&P 500 index notching its 41st record close of the year, shrugging off the disappointing consumer data. Oil prices steadied on Wednesday after rising in the previous session on fading excitement for the economic stimulus in China, the world's biggest crude importer, though an industry report showing falling U.S. crude and fuel inventories supported the market.

As per provisional figures, Foreign Institutional Investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs.2784.14 crore and Domestic institutional investors bought shares worth net Rs.3868.31 crore on 24^th September 2024.

Dow Jones Futures were down 99 points, indicating a strong opening in the US stock market today. Most Asian stocks extended gains on Wednesday, buoyed by China's expansive stimulus package and a strengthening yuan. The rally, which began the previous day, was fueled by the People's Bank of China's announcement of measures aimed at supporting the economy and financial markets.

In the United States, the S&P 500 (+0.25%) reached a new all-time high Tuesday, shrugging off concerns about weak consumer confidence. Nvidia's shares surged 4% following news that CEO Jensen Huang had completed his stock sales. The Dow Jones Industrial Average (+0.20%) and Nasdaq Composite (+0.56%) also recorded gains.

US consumer confidence suffered its biggest one-month decline in more than three years, hitting 98.7 for September. The data follows a warning from JPMorgan Chase CEO Jamie Dimon about increasing geopolitical instability casting a shadow over the positive market sentiment. Dimon expressed concerns that these geopolitical tensions could impact the global economy. 

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