Stock Market Today LIVE: The Indian stock market benchmark indices Sensex, Nifty 50 opened over 0.5% higher on Wednesday, following gains in global markets ahead of the US Federal Reserve’s interest rate decision due later today. Meanwhile, investors remained cautious over the ongoing US-Iran war in the Middle East and rising oil prices.
Asian markets traded higher, while the US stock market ended with decent gains overnight, as investors now focus on the US Federal Reserve’s monetary policy and interest rate decision to be announced on Wednesday.
Rate futures suggest expectations of one 25-basis-point cut toward the end of the year, according to LSEG-compiled data, down from around two before the war.
US-Iran War
In the latest development in the US-Iran war, the US and Israel continued their attacks overnight, with Iran confirming the death of national security chief Ali Larijani. Tehran also struck energy infrastructure in countries across the Persian Gulf region, while shipping through the Strait of Hormuz remained at a near-halt.
Crude Oil Prices
Crude oil prices traded lower after reports of increase in US crude inventories. Brent futures fell 0.63% to $102.79 a barrel, while US West Texas Intermediate crude declined 1.13% to $95.11.
Gold Rate Today
Gold prices were steady ahead of the US Federal Reserve’s policy decision. Spot gold price was little changed at $5,003.77 per ounce, while US gold futures for April delivery held steady at $5,008.70. Spot silver price rose 0.2% to $79.46 per ounce.
Stay tuned to this segment for the latest updates on stock market today.