Last update: March 1, 2024, 09:27 IST
Today's Sensex: The benchmark index started Friday's trading session on a positive note, tracking gains in key overseas markets.
The S&P BSE Sensex opened with a gap of over 100 points at 72,606, while the NSE Nifty 50 was seen testing the 22,050 level.
India's third-quarter GDP grew at a better-than-expected 8.4%, mainly driven by government capital expenditure spending. Meanwhile, the National Statistical Office (NSO), which publishes statistics, raised its FY24 growth forecast to 7.6% from the January forecast of 7.3%. growth was great
Meanwhile, India's core sector output, which measures production across eight core industries, rose 3.6% in January, hitting its lowest level in 15 months.
Stocks of auto companies will also be on investors' radar as they report monthly sales for February.
Saturday Special Trading Session
Regular trading will take place in two sessions on Saturday 2 March from 9.15am to 10.00am and 11.30pm to 12.30pm.
global cue
In Asia this morning, Japan's Nikkei rose 1.3%. Most others traded as flat notes.
Overnight US markets closed higher as inflation data supported expectations of a rate cut. The S&P 500 and Nasdaq hit record highs and closed with their biggest February gains in a decade.
On Thursday, the Nasdaq rose 0.9%, the S&P 500 rose 0.5% and the Dow Jones Industrial Average rose 0.1%. It raised hopes that interest rates would be slightly lower in the day ahead of key inflation figures that could significantly affect expectations about the timing of a rate cut. The Dow and S&P 500 indexes recorded slight losses, and the Nasdaq index fell 0.6%.
The Federal Reserve's preferred measure of inflation, the Personal Consumption Expenditures (PCE) index, lowered its headline reading to 2.4% in January.
The yield on 10-year U.S. Treasury bonds fell to 4.26.4%. Meanwhile, Brent crude oil futures consolidated around $82 per barrel and Bitcoin remained firmly above $60,000 for the second day in a row.