Inflation Data, ECB Interest Rates, Sebi Board Meeting, Crude Oil, Gold Prices Among Other Market Cues Today

Nifty 50 extended gains for the seventh consecutive session the previous day. After giving a gap-down opening, the 50-share index managed to recover in the latter half of the session and reclaim the 25,000 level. At close, Nifty 50 was at 25,005.50, up 32.40 points, or 0.13 per cent. Similarly, Sensex ended at 81,548.73, up by 123.58 points, or 0.15 per cent.

In the session on September 12, markets are expected to react to a host of domestic and global cues. Here’s a quick overview of these.

Share Market Cues Today, September 12

CPI Inflation Report

Market participants are awaiting the release of India's Consumer Price Index (CPI) inflation data for the August month, which will be published by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) later today.

US Core CPI Inflation Data

US core CPI inflation rose in line with expectations in August, reinforcing the view that the Federal Reserve is likely to move ahead with an interest rate cut at its meeting on September 16-17.

Data released on September 11 by the Bureau of Labor Statistics showed the core CPI inflation, which excludes food and energy prices, rose 0.3 per cent from July. Including food and energy, the headline CPI climbed 0.4 per cent, the largest monthly gain so far this year.

Sebi Board Meeting

Market regulator Securities and Exchange Board of India’s (Sebi) board is set to discuss a range of regulatory reforms at its meeting later today. According to multiple reports, the reforms include easing initial public offering (IPO) norms for large companies and extending deadlines to meet minimum public shareholding requirements.

Other proposals on the agenda likely include relaxation in rules for foreign portfolio investors (FPIs) and accredited investors in Alternative investment Funds (AIFs), expanded roles for rating agencies, and granting equity-like status to real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).

This is the third board meeting under chairperson Tuhin Kanta Pandey, who took charge on March 1, 2025.

ECB Keeps Interest Rates Unchanged

The European Central Bank (ECB) on September 11 kept interest rates unchanged, holding the deposit rate at 2.00 per cent, the main refinancing rate at 2.15 per cent, and the marginal lending rate at 2.40 per cent. The bank said inflation is broadly aligned with its 2 per cent target and upgraded 2025 growth forecast to 1.2 per cent from 0.9 per cent. Policymakers reiterated that future decisions will depend on incoming data and will be decided on a meeting-by-meeting basis.

US Market Cheers Inflation Data

US market's key indices closed at their record highs on September 11, buoyed by favourable August inflation numbers that were largely aligned with market expectations, reaffirming that a Federal Reserve rate cut is coming next week.

The Dow Jones rose 617.08 points, or 1.36 per cent to close at 46,108, for the first time. Similarly, the tech-heavy Nasdaq Composite climbed 157.01 points, or 0.72 per cent to end at its closing record high of 22,043.07, and S&P 500 index advanced 55.43 points, or 0.85 per cent to settle at 6,587.47.

Asian Markets Mirror Wall Street Gains

Mirroring the gains on Wall Street, Asian equity indices largely traded in the green in early session today.

Japan's Nikkei 225 traded 0.82 per cent higher, South Korea's KOSPI traded 1.20 per cent higher, China's SSE Composite quoted up by 0.24 per cent, while the Hong Kong-based Hang Seng climbed the most, rising more than 1.53 per cent.

Crude Oil Prices Extend Decline Amid Supply Glut Concerns

Crude oil prices fell in early trade hours today amid concerns of a supply glut and simultaneously softening of demand from the US. In the previous session, oil prices fell around 2 per cent.

The Brent Crude Oil October futures fell 0.74 per cent to trade at $65.88 per barrel. The West Texas Intermediate (WTI) Crude Oil November futures slipped 0.83 per cent to trade at $61.85 per barrel.

Gold Prices Jump After US Inflation Data Solidifies US Fed Rate Cut Bet

Gold prices in domestic as well as international markets jumped to hit their fresh record highs after the US core CPI inflation data solidified the likelihood of Federal Reserve cutting interest rates next week.

Gold October futures on Multi Commodity Exchange (MCX) traded higher by Rs 568, or 0.52 per cent, at Rs 1,09,549 per 10 grams.

On COMEX, Gold December futures quotes $18.5 or 0.50 per cent higher at $3,691.8 per ounce.