Stock Market LIVE Updates:
On Thursday, both the Sensex and Nifty experienced gains, buoyed by positive movements in information technology stocks. The uptrend followed the Federal Reserve’s recent policy meeting minutes, which suggested a high probability of an interest rate cut by the U.S. central bank next month.
The Sensex rose by 200 points, while the Nifty traded above 24,800. The India VIX, a measure of market volatility, eased by 4%, reflecting a calmer market sentiment.
Recent U.S. jobs data for the 12 months ending March 2024 revealed that job growth was lower than previously estimated. This data supports the expectation that the Federal Reserve might adopt a more dovish stance and initiate a rate cut cycle, beginning with a 25 basis point reduction in September, with the possibility of further cuts to follow. According to Dr. V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, this anticipated shift could stabilize markets by reducing uncertainty.
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