In the wake of the Fed Chair speech at Jackson Hole, global markets have shown a positive response, with the ripple effects reaching India’s offshore markets. The Gift Nifty index, a key indicator for Indian market sentiment, has surged to approach the significant 25,000 mark.
As of the latest update, the Gift Nifty stands at 24,941, marking a gain of 98.50 points or 0.40% at 23 Aug, 2024, 08:04PM IST. This upward movement aligns with the bullish trend seen in US markets, where the Dow Jones Industrial Average rose by 1% and the Nasdaq composite saw an even more substantial increase of 1.6%.
The Gift Nifty’s approach to the 25,000 threshold suggests that Indian markets may open on a strong note in the next trading session, potentially mirroring the optimism seen in global markets. Investors and traders will be closely watching to see if this psychological barrier is breached, which could signal further upside potential for Indian equities.
This market movement underscores the interconnected nature of global financial markets and highlights how sentiments from major economies like the US can influence trading activity in emerging markets like India.
