Stock Market LIVE updates: Sensex up 100pts at 82k, Nifty at 25k at pre-open; SpiceJet, Maruti eyed | News on Markets

Live updates on the stock market for Wednesday, September 11, 2024: The benchmark indices for Indian equities saw a slight increase on Wednesday despite tame signals from Asian markets ahead of the release of important economic data today.

Aside from the debate between Donald Trump and Kamala Harris, investors around the world were waiting for US consumer price index data that would shed more light on the amount and timing of interest rate reduction by the US central bank this year.




Aside from that, Wednesday saw a tremor in Asian stocks and a lingering three-year low in oil prices due to worries over a dismal demand forecast.




South Korea’s Kospi fell 0.20 percent, Japan’s Nikkei 225 dropped 0.7%, and the Topix fell 0.86 percent. Still, the small-cap Kosdaq had a 1.61 percent increase.




Though Hong Kong’s Hang Seng index futures were at 17,072, down from the HSI’s previous finish of 17,190, Australia’s S&P/ASX 200 was modestly higher.




In what could be the first and maybe only debate between Republican presidential candidate Donald Trump and Democratic vice president Kamala Harris, the outcome could be crucial in their race for the White House.




Investors will be watching to see if either candidate discusses fiscal policies and plans for the economy, even though the debate is unlikely to have an immediate impact on monetary policy.




Investor caution has been evident throughout Asian hours, as evidenced by the 0.08 percent decline in MSCI’s broadest index of Asia-Pacific shares outside of Japan. The Nikkei of Japan dropped 1% in early trading.




The US Labor Department’s consumer price index report will thereafter be the focus of investors’ attention for policy cues, even if the Federal Reserve has made it apparent that employment has become more important than inflation.




According to a Reuters survey, the headline CPI increased by 0.2% month over month in August, which is consistent with the previous month’s results.




Although it is largely anticipated that the Fed will lower interest rates next week, the extent of the cut is still up for discussion, particularly in light of the mixed labor data that was released on Friday and which cast doubt on the central bank’s potential course.




Markets presently factor in a 66% possibility that the US Federal Reserve will lower interest rates by 25 basis points, while a 34% chance points to a 50% reduction when the Fed makes its announcement on September 18, according to the CME FedWatch tool.




After OPEC+ lowered their demand prediction for this year and 2025, oil prices in the commodities market somewhat stabilized but remained close to their lowest levels in three years.




The price of a barrel of Brent crude futures was last up 0.5% at $69.54. The price of a barrel of US West Texas Intermediate (WTI) crude increased by 0.6% to $66.16.

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