Based on US rate-cut hope, bulls are confident the rally will continue

Markets are rallying on expectations of a U.S. interest rate cut, with bulls leading the charge. Indian markets have followed suit, rewriting records. The bulls are confident the rally will continue.

India's inflation and trade data are expected today. The U.S. Federal Reserve's FOMC meeting begins today, with a decision expected tomorrow night, which could impact future market movements.

In derivatives trading, Gift Nifty closed at 25,500 over the weekend and opened lower at 25,490 today, signaling a strong start for the Indian market.

Global markets

European and U.S. markets ended mixed on Monday, with concerns over the scale of the expected rate cut. The Dow Jones closed at a record high, while Nasdaq fell due to losses in Apple and chip stocks.

Indian markets

Indian indices opened higher but ended with modest gains on Monday. Sectors like FMCG and IT underperformed while others gained. On NSE, 1,448 stocks rose, and 1,354 declined, while on BSE, 2,185 stocks gained, and 1,927 fell.

Sensex gained 97.84 points (0.12%) to close at 82,988.78, while Nifty rose 27.25 points (0.11%) to end at 25,383.75. Bank Nifty climbed 215.10 points (0.41%) to 52,153.15.

Commodities & forex

Gold continues its rise, nearing record levels. As interest rate cuts loom, large investors may shift from bonds to gold and stocks. On Monday, gold closed at $2,583 an ounce. In India, gold rose by ₹120 to ₹55,040 per 8 grams.

Crude oil prices surged, with Brent closing at $72.75 per barrel on Monday and climbing further today. Industrial metals like copper and aluminum also saw significant gains.

Market Indicators (Sept 16, Monday)

• Sensex 30: 82,988.78 (+0.12%)
• Nifty 50: 25,383.75 (+0.11%)
• Bank Nifty: 52,153.15 (+0.41%)
• Midcap 100: 60,259.75 (+0.38%)
• Smallcap 100: 19,537.75 (+0.16%)
• Dow Jones 30: 41,622.08 (+0.55%)
• S&P 500: 5633.09 (+0.13%)
• Nasdaq: 17,592.13 (-0.52%)
• Gold: $2,583/oz (+$4.30)
• Brent crude: $72.75/barrel (+$0.92)