Stock market today: Nifty 50, Sensex close with mild gains; investors earn over ₹2 lakh crore ahead of US Fed outcome

Most major European and Asian markets rose today, fueled by optimism that the US inflation data will show signs of easing and that Federal Reserve Chair Jerome Powell will provide insight into when rate cuts may begin in the US.

Investors awaited key US inflation data—the May Consumer Price Index (CPI) print—and the US Federal Reserve’s policy decisions, which are expected to influence the near-term outlook for interest rates.

Also Read: US Fed policy today: From job market trends to macro indicators- 5 crucial factors that will dominate Fed’s mind

On the domestic front, the Union Budget will be the next major trigger, and according to experts, the stock market may remain in a range until then.

Sensex closed with a gain of 150 points, or 0.20 per cent, at 76,606.57, while the Nifty 50 settled 58 points, or 0.25 per cent, higher at 23,322.95.

(More to come)

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Published: 12 Jun 2024, 03:33 PM IST