Stock Market India: Sensex up over 200 points
Indian equity benchmarks opened with significant gains on Friday, rising gains for the second straight session despite mixed cues from global markets, keeping investors struggling amid poor earnings reports and rising anticipation of slow rate hikes from major central banks. Gone.
The BSE Sensex index rose over 200 points and the NSE Nifty index opened in the green.
In broader Asia, however, investors rallied in equities, balancing mixed corporate releases and economic data, driving a potential shift in central banks’ policymaking.
According to MSCI, the broadest Asia-Pacific stock index outside Japan was down more than 0.3 per cent and was on track to end a three-day winning streak. For the month and year, the index is down about 3 percent and 30 percent, respectively.
US equity contracts declined, as a result of Amazon.com Inc.’s decline in after-hours and lower-than-expected sales forecasts. After a turbulent day, shares of Apple Inc. rose marginally in after-hours trading.
But central banks have shifted from their aggressive policy to put traders in ‘buy risky assets’ mode.
Recent rhetoric from policymakers “also supports our forecast that the Fed slows hiking pace to 50 basis points in December, following another 75 basis-point increase in November,” including Dan Struven A team of economists at Goldman Sachs wrote in a note. , according to Bloomberg.
