Stock Market Opening Bell: The Indian benchmark stock market indices, Sensex and Nifty 50, opened lower on Thursday, April 30 after the US President Donald Trump rejected Tehran's peace plan, triggering mixed global market cues.
While the Nifty 50 declined 0.75% to 23,996.95, Sensex fell 0.62% to 77,014.21 level.
Meanwhile, the US Fed FOMC kept key interest rate unchanged at 3.5%–3.75% with outgoing Fed Chair Jerome Powell pointing out that the impact of surging energy prices on the inflation trajectory could not be assessed as of now.
On the other hand, Asian markets traded lower and the US stock market ended mixed.
On Wednesday, the Indian stock market fell sharply from the day’s highs but ended higher. The Sensex rose 0.79%, to close at 77,496.36, while the Nifty 50 ended 0.76% higher at 24,177.65.
Gift Nifty was trading around 24,185 level, lower by 67 points from the Nifty futures’ previous close, signalling a negative start for the Indian stock market indices.
The Asian markets traded largely lower on Thursday, tracking losses on Wall Street as crude oil prices surged triggered by uncertainty in the US-Iran war.
Japan’s Nikkei 225 fell 1.10% and the Topix plummeted 1.48%. South Korea’s Kospi rose 0.06%, while the Kosdaq dropped 0.25%. Hong Kong’s Hang Seng index futures indicated a lower opening.
US President Donald Trump told Axios he will not lift a naval blockade of Iran’s ports until he secures a deal with Tehran to address the country’s nuclear program, extending a standoff over the Strait of Hormuz that has caused a global energy crisis, Bloomberg reported.
The US Federal Reserve kept the federal funds rate unchanged for the third consecutive meeting at 3.5%–3.75% amid increased risk of inflation rising due to higher global energy prices. In his press conference, Fed Chair Jerome Powell hinted that the impact of higher energy prices on the inflation trajectory could not be assessed at this juncture.
