Stock market news today, Indian benchmark indices bounced back, recovering losses from the previous session, rising nearly 1% on October 10.
Trades were made boldly without fear
Market gains were attributed to positive global cues, particularly dovish comments from US Federal Reserve officials. This eased concerns about a possible interest rate hike.
Both the U.S. dollar and U.S. Treasury yields fell significantly, reinforcing misguided challenges regarding Federal Reserve policies. Despite the positive momentum, concerns lingered over the ongoing Israel-Hamas conflict, contributing to market uncertainty.
The focus was on geopolitics after the Israel Defense Forces said dozens of warplanes struck more than 200 targets in Gaza overnight.
No matter how many difficulties come, ‘Tunive support; Don’t you have a mindset of ‘let’s take care of it’? That’s what came up among traders yesterday. That’s why our stock markets have been booming since morning
There was a reason for this boldness. Crude oil prices were marginally lower. In the United States, bond yields also softened somewhat due to good news from the Federal Reserve Bank officials regarding interest rates. The Israel-Hamas war is temporary. The crude oil price increase will not be large. They beat themselves and rest. Traders believed that it would not spread to other countries and would not be affected
Also, there is no dearth of expectations throughout the day. Retail price inflation will ease to 5.40 per cent in September from 6.80 per cent in August last year, a poll by a business daily said. Another news agency poll said retail inflation would ease to 5.50 percent
Due to strong business, the International Monetary Fund has predicted that our GDP will be 6.30 percent this fiscal year. Earlier, the IMF had predicted a growth of 6.10 percent. Now it has raised its estimate.
In India, post-Corona, domestic business and trade activities have picked up considerably, so the demand for residential and commercial buildings here has risen significantly. Another private sector report said the growth has been steady and consistent. Nifty retail index has gained 41 percent this year alone as RBI keeps interest rates unchanged
By the end of trading hours, real estate stocks were up as much as 4 percent. Sector wise stocks like IT, Power, Autos, Metals, Public Sector Banks gained one to two percent growth.