Sensex jumps 550 points; Nifty nears 24,350 as softer US jobs data cools Fed hike expectations
AI Market Summary
Indian equities advanced as weaker US June payrolls reduced perceived Fed tightening risk, supporting global risk appetite. Gains were broad-based, led by metals and IT, while India VIX fell, indicating calmer near-term volatility. Nasdaq 100 futures strength reinforced the positive tone, and gold's continued rise suggests a simultaneous bid for defensive assets amid shifting US rate expectations.
Impact level
● Medium
Affected assets
NCSISP5002USD/USDT+0.45%
AI Insight · NCSISP5002USD/USDTAI Insight
▲ Bullish
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Indian equities opened higher on July 3, with the Sensex up 0.71% and the Nifty gaining 0.71%, supported by weaker US June nonfarm payrolls that prompted markets to sharply scale back expectations for further Federal Reserve rate hikes. The Nifty Metal index rose nearly 2%, led by Hindustan Zinc (up nearly 3%) and National Aluminium Co. (up more than 4%). IT stocks advanced 1.9%. In global markets, Nasdaq 100 futures added 0.6% and gold extended its rally. India VIX slipped to 11.99, signaling easing volatility.
