Indian Markets Update: Treasury Yields Slide Amid Rate Cut Expectations
Treasury yields fell on the back of Federal Reserve Governor Christopher Waller’s reiteration of his case for a July rate cut, while data showed an improvement in consumer expectations for inflation. The Indian market wavered as earnings season kicked off, with investors looking for cues from corporate results.
The 10-year Treasury yield declined two basis points to 4.43%, while the 2-year yield fell three basis points to 3.87%. The yield curve inversion, a traditional indicator of a potential recession, remains a topic of discussion among market analysts.
Indian Markets: Nifty and Sensex Update
The Nifty 50 index closed flat at 17,452, while the Sensex 30 index ended the day at 59,444. The broader market witnessed a mixed bias, with some stocks showing resilience despite the volatility.
Rate Cut Expectations: Waller’s July Cut Call
Fed Governor Christopher Waller reiterated his calls for a rate cut in July, citing improved inflation expectations and a slowing labor market. His comments were seen as a positive signal for the market, with investors looking for a July rate cut to boost economic growth.
Q2 Earnings: A Preview of the Quarter
Earnings season is set to kick off in the coming weeks, with investors eagerly awaiting results from top Indian companies. The quarter is expected to demonstrate a mixed bag of results, with some companies likely to report strong earnings and others facing headwinds.
Top Stocks to Watch: Nifty Gainers and Losers
Some of the top Nifty gainers and losers of the day included:
- Company X: +2.5%
- Company Y: -1.8%
- Company Z: +1.2%
Indian Economy: Q2 GDP Growth
The Indian economy is expected to report a modest growth rate in Q2, driven by a rebound in consumption and a pickup in exports. However, the ongoing trade tensions and global economic uncertainty remain key risks for the economy.
Global Markets: A Mixed Bag
The global markets witnessed a mixed bias, with the US and European markets trading flat to higher. The dollar index fell 0.1%, while the euro and British pound rose against the dollar.
Commodities: A Mixed Bag
Oil prices fell 0.2% to $67.38 a barrel, while gold prices rose 0.3% to $3,348.06 an ounce. The yield on 10-year Treasuries declined two basis points to 4.43%, while the 2-year yield fell three basis points to 3.87%.
Focus Keywords:
- Nifty today
- Sensex news
- Indian stock market
- Q2 earnings
- Rate cut expectations
