Market News
2 min read | Updated on April 04, 2024, 08:28 IST
SUMMARY
Indian markets remain range bound at all time high levels, awaiting RBI policy. US Federal Reserve chairman says rate cuts are imminent this year, yet currently in a wait and watch mode.
Indian markets remain in range ahead of key RBI policy updates on April 5
Indian markets closed little changed on Wednesday as they awaited the RBI policy decision on April 5. The global markets rejoiced at Fed chairman Jerome Powell's comment on rate cuts being imminent this year. The Asian markets mainly trade positively, with 1.6% gains in Japan on Thursday morning.
The US markets closed little changed after giving up early gains. The S&P 500 and Nasdaq closed positive with +0.11% & +0.2% gains, while Dow Jones closed -0.11% losses on Wednesday.
Gold continued its rally to record high levels and is currently trading at record high levels of $2,322 per ounce in the international markets. While in the domestic markets, gold prices are hovering around ₹70,000 per 10 gm.
The Brent crude prices are trading near $89 per barrel as the OPEC+ decided to maintain the status quo with no fresh policy recommendations this month.
The foreign investors chose to become net sellers for Indian equities to the tune of ₹2,213 crore, while domestic institutional investors continued their buying spree worth ₹1,102 crore on Wednesday.
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