This is an archive article published on October 10, 2024
Indian shares edge higher; investors await TCS earnings, US CPI
While the outlook for Indian markets remains positive, a moderation in earnings could bring down inflated valuations and temper investor expectations, Yogesh Patil, chief investment officer of equity at LIC Mutual Fund AMC said.
The Nifty 50 index was up 0.44% at 25,090.8 points as of 10:22 a.m. IST, while the S&P BSE Sensex added 0.49% to 81,850.59.(File Image) Indian shares rose on Thursday as minutes from the Federal Reserve’s latest policy meeting reinforced hopes of more rate cuts in the United States, which could likely trigger more inflows into emerging markets.
The Nifty 50 index was up 0.44% at 25,090.8 points as of 10:22 a.m. IST, while the S&P BSE Sensex added 0.49% to 81,850.59.
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Other Asian markets also advanced on the day, led by China, after the country’s central bank kicked off measures to support its capital markets.
The MSCI Asia ex-Japan index rose 1.25%. Wall Street equities gained overnight.
Minutes of the Fed’s September policy meeting showed that a majority of the US central bank officials supported the outsized 50-basis-point rate cut and indicated further easing.
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