Share Market Opening Bell: Indian stock market opens at new record high, Sensex opens at 77102

Share Market Opening Bell: The Indian stock market has opened at a new record level today. The Indian stock market also opened at record highs due to the US Fed decision and strong global cues. Sensex and Nifty opened 0.6 percent higher. Sensex opened at 77102 and Nifty at 23480.

Stock Market Opening (13 June 2024)

• SENSEX : 77,102.05 +495.48  (0.65%) 
• NIFTY : 23,480.95 +158.00  (0.68%)

Signals of global markets

After the Fed's decision, the American market saw a record jump. The Nasdaq and S&P 500 indexes closed at record highs. For the third day in a row, both these indices closed at record levels. The rise in the Nasdaq is being seen on the back of a surge in tech stocks. But, the Dow Jones closed in the red for the second day in a row. The index closed down nearly 400 points from its highs.

Talking about the Asian markets, there is a boom here today. Japan's Nikkei index rose 0.56%. South Korea's Kospi index is trading up 1.4%. The Hang Seng index is showing signs of growth.

Important signal for Indian stock market

1. The Fed has once again decided not to cut rates after which they remain in the range of 5.25 – 5.5%. However, there are indications of cuts towards the end of the year. Earlier the Fed had hinted at three cuts by the end of the year. The aggressive rate is estimated in the year 2025. Jerome Powell said inflation is falling but is still off target. Committed to bringing the inflation rate down to 2%. Inflation softened from the upper levels. The economy continues to grow and the labor market is strong.
2. 2. Retail inflation rate moderated in May. The retail inflation rate stood at 4.75%. This is the lowest level of inflation in the last 12 weeks. The retail inflation rate was 4.83 percent in April. The inflation rate in the US has been 0%. At the same time, the core inflation rate was 0.2%.

Statistics of FIIs – DIIs

Yesterday saw buying from institutional investors. However, this figure remained very small. Foreign institutional investors bought shares worth ₹427 crore in the cash market yesterday. Whereas, DII bought shares worth ₹ 234 crore in the cash market yesterday.

Disclaimer:  Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. If you do not do so, you may suffer financial loss.