Sensex Today: Indian benchmark indices, BSE Sensex and Nifty 50 opened higher on Tuesday, following mixed global cues.
Apart from that, markets in India will see the implementation of new transaction charges by the NSE and BSE beginning from today, October 1, in response to a Securities and Exchange Board of India (Sebi) directive aimed at eliminating the slab-wise charge structure for market infrastructure institutions (MIIs).
For equity options, the NSE will charge Rs 3,503 per crore of premium value for each side of a transaction, while the BSE will adjust its charges for Sensex and Bankex options contracts to Rs 3,250 per crore of premium turnover.
In addition to these transaction changes, Finance Minister Nirmala Sitharaman had announced an increase in the Securities Transaction Tax (STT) for futures and options trading, effective from the same day. The STT for futures trading will rise to 0.02 per cent, up from 0.0125 per cent earlier, while options trading will see an increase to 0.1 per cent.
Global Cues
Markets in the Asia-Pacific region were mixed on Tuesday following Federal Reserve chair Jerome Powell’s comments that future rate cuts would not be as aggresive as the last one.
Many Asian markets, including South Korea, Hong Kong, and mainland China, are closed for a public holiday today, while China markets will remain closed for the rest of the week due to Golden Week celebrations.
Japan’s Nikkei 225 rebounded sharply, gaining 1.73 per cent after a 4.8 per cent decline on Monday, while the Topix rose 1.43 per cent.
In contrast, Australia’s S&P/ASX 200 fell 0.47 per cent, pulling back from an all-time high.
In Japan, traders were focused on the Bank of Japan’s third-quarter Tankan survey, which assesses business optimism among large companies.
Wall Street indexes had rallied last week with help from a benign reading on core US inflation on Friday that had boosted bets for another half-point rate from the Fed.
But on Monday traders saw a 36.7 per cent probability of a 50 basis point cut in November, down from 53.3 per cent on Friday, according the latest reading on CME Group’s FedWatch tool.
While stocks fell during Powell’s speech, they regained lost ground with the S&P 500 and the Dow registering record closing highs on the last day of the quarter when many traders make last minute adjustments to their portfolios.
The Dow Jones Industrial Average rose 0.04 per cent, to 42,330.15, the S&P 500 rose 0.42 per cent, to 5,762.48 and the Nasdaq Composite rose 0.38 per cent, to 18,189.17.
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