Pre-market update by Stoxkart - a deep discount broker powered by SMC Global
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Below the Pre-market update by Stoxkart - a deep discount broker powered by SMC Global
As per provisional figures, Foreign Institutional Investors (FIIs)/ Foreign Portfolio Investors (FPIs) bought shares worth net Rs.482.69 crore and Domestic institutional investors bought shares worth net Rs.874.15 crore on 17th September 2024.
Yesterday, the domestic equity indices ended with limited gains. The Nifty settled above the 25,400 level after hitting the day’s low of 25,352.25 in morning trade. The S&P BSE Sensex, was up 90.88 points or 0.11% to 83,079.66. The Nifty 50 index rose 34.80 points or 0.14% to 25,418.55.
The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 1.31% (Provisional) for the month of August, 2024 (over August, 2023). Positive rate of inflation in August, 2024 is primarily due to increase in prices of food articles, processed food products, other manufacturing, manufacture of textiles and manufacture of machinery & equipment etc. However, this is the lowest WPI inflation in last four months.
Investors await for the Federal Reserve to kick off its monetary loosening cycle. The US Federal Reserve is set to announce its latest interest rate decision today, September 18, following a two-day Federal Open Market Committee (FOMC) meeting. The rate-setting panel, led by Fed Chair Jerome Powell, is widely expected to reduce the benchmark interest rate for the first time in four years. As the FOMC begins its deliberations on Tuesday, September 17, Powell has signaled confidence in cutting rates, citing inflation levels close to the central bank’s 2 per cent target. This will mark the sixth monetary policy meeting of 2024.
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