Sensex & Nifty Set for Gains Amid Fed Pause, Rising Oil Prices
NEWZA Editorial Team••Source: MoneyControl
NEWZAFinancial Intelligence Feed
⚡ Key Financial Takeaways
Fed Governor Waller’s comments cut September hike odds to 50.4%, sparking a global rally.
Nifty faces 24,200 resistance; 23,800 support could trigger a drop to 23,600.
Crude oil rose 7% this week, with Brent at $95.76, adding headwind to Indian equities.
Global Market Drivers The US Federal Reserve’s Governor Christopher Waller signaled a willingness to keep rates unchanged if inflation eases, cutting the probability of a September hike from 63.2% to 50.4% per CME’s FedWatch. This dovish tone lifted US equities—Nasdaq up 1.40%, Dow 1.18%, S&P 500 1.06%—and pulled back global bond yields, boosting risk appetite across Asian markets.
Indian Market Outlook Indian indices are poised for a positive start on Friday. GIFT Nifty traded at 24,033 (+0.42%) early, while the Sensex closed Thursday at 76,152.86 (down 0.55%) and the Nifty at 23,873.45 (down 0.17%). Analysts see 24,000‑24,200 as the immediate resistance zone for the Nifty, with 23,800 as key support; a break below 23,800 could push the index toward 23,600. Foreign institutional investors were net sellers on Sept 3, offloading shares worth Rs 2,346 crore, whereas domestic institutional investors bought Rs 4,977 crore, providing support.
Oil Prices & Geopolitical Impact Crude oil remains a major headwind. Brent crude edged 0.3% higher to $95.76 a barrel on Friday, up more than 7% for the week—its biggest weekly gain since July. West Texas Intermediate rose 0.4% to $91.65. Rising prices stem from renewed US‑Iran tensions and a US bombing campaign that triggered retaliation, heightening fears of disruptions to the Strait of Hormuz. Elevated energy costs weigh on inflation expectations and could limit the upside for Indian equities, especially if volatility persists into the weekend.
