Stock market on January 8: Equity benchmark indices opened flat in early trade on Wednesday amid mixed global cues. In the early trade, the 30-share BSE Sensex climbed 11.57 points to 78,210.68. Meanwhile, the Nifty was also marginally up by 4.05 points to 23,711.95.
Global factors, including higher benchmark Treasury yields, unexpectedly strong US services sector activity in December, and a surge in new job openings despite slower hiring, have contributed to reduced expectations of Federal Reserve rate cuts. These developments pulled Wall Street benchmarks lower in overnight trading, creating a cautious atmosphere for investors in India.
Domestic sentiment is also under pressure after the National Statistics Office (NSO) estimated India’s economic growth to slow to 6.4% in FY25, falling below the Reserve Bank of India’s (RBI’s) projection of 6.6%. This marks a decline from the 8.2% GDP growth recorded in FY24.
More details to be added.
