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Most markets built on the latest global rally Tuesday as optimism that the US Federal Reserve will cut interest rates this year continued to breeze through trading floors.
Equity markets on Monday ended flat after opening nearly 0.5 percent higher amid selling seen in PSU stocks. The Sensex was up 17.39 points or 0.02 percent to close at 73,895.54, and the Nifty was down 33.15 points or 0.15 percent to end at 22,442.70. About 1,294 shares advanced, while 2,627 shares declined, and 172 shares were unchanged.
Trends in the GIFT Nifty indicate a flat start for the broader index in India, with a gain of 10 points or 0.04 percent. The Nifty futures were trading around the 22,590 level.
Asian markets built on the latest global rally Tuesday as optimism that the US Federal Reserve will cut interest rates this year.
Richmond Fed President Thomas Barkin's said overnight that the pace of disinflation has possibly stalled. "We're going to need a little more edge off of demand to get all the way" back to target, he added. Despite these challenges, he expressed optimism regarding the current level of the benchmark policy rate, indicating confidence that it will effectively address inflation.