February 18, 2024
Flat Open for Sensex and Nifty on Budget Day; Asian Shares Falter
Finance Stock Markets

Flat Open for Sensex and Nifty on Budget Day; Asian Shares Falter

Flat Open for Sensex and Nifty on Budget Day; Asian Shares Falter/PTI

Flat Open for Sensex and Nifty on Budget Day; Asian Shares Falter

The Sensex and Nifty opened with a flat trajectory on budget day, showing marginal gains shortly after. At 11 am, the Sensex was up 282.41 points (0.39%) at 72,034.52, and the Nifty rose 71.50 points (0.33%) to 21,797.20.

Global Market Trends Impact Asian Shares

Asian shares faced uncertainty following a late spill in Wall Street. The US stock market experienced a decline after Federal Reserve Chair Jerome Powell indicated that rate cuts might not happen in March. The Dow closed down 0.82%, the S&P 500 fell 1.61%, and the Nasdaq dropped 2.23%.

Oil Prices Rise on Fed Signals and Chinese Property Market Measures

Global oil prices experienced an early climb, influenced by signals from the Federal Reserve regarding potential rate cuts and new support measures introduced by China for its struggling property market. The market remains watchful of developments in the energy sector amid changing global economic dynamics.

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