February 18, 2024
Market Update - Key Highlights
Finance Stock Markets Trading

Market Update – Key Highlights

Market Update – Key Highlights

Market Update – Key Highlights

  • After a volatile start, both Sensex and Nifty consolidated in positive territory.
  • As of 2 pm, Sensex gained 193.70 points, reaching 70,564.25, while Nifty rose by 87.45 points to 21,326.25.
  • Positive earnings reports from companies and China’s move to stimulate its economy contributed to the market gains.
  • Europe’s Stoxx 600 index climbed 0.8%, with mining stocks surging after China’s People’s Bank announced a cut in the reserve requirement ratio for banks on Feb. 5.
  • US equity futures, particularly in the tech sector, gained following Wall Street’s fresh closing highs on Tuesday.
  • Asian stocks, including Chinese shares traded in Hong Kong, advanced on the back of the positive stimulus news from China.
  • Japanese government bond yields and bank stocks rose as investors speculated on the Bank of Japan’s potential rate hike, with 10-year note yields climbing significantly.
  • The focus has shifted from expected Federal Reserve rate cuts to the Bank of Japan’s potential moves, leading to increased bullish sentiment regarding a rate hike.

The markets have responded positively to a combination of corporate earnings and global economic stimulus measures, contributing to a relatively upbeat trading session.

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