Market Cues Today: India-EU FTA Talks, Crude Oil Prices, Gold Rates Today And Other Factors Set To Impact Trade Today

The headline indices extended gains on Thursday, September 4 the BSE Sensex closed at 80,718.01 gaining 0.19 per cent on the other hand the Nifty 50 finished the session at 24,734.30 up by 0.8 per cent. On September 5, the Gift Nifty opened marginally lower at 24,867 but soon surged to an early high of 24,910 points indicating a positive start for the benchmark indices.

Stock Market Cues On September 5

Some of the key cues expected to impact D-street on September 5 include news surrounding a Free Trade Agreement between India and European Union, changes in crude oil prices and the movement of other global indices.

India-EU FTA

Several media reports have cited that talks regarding the signing of an India-EU FTA are underway. According to a report by news agency Reuters, EU trade chief Maros Sefcovic is expected to visit India next week. The talks come amid the backdrop of the imposition of 50 per cent tariffs on India by the US. The report also cited Indian officials who revealed that the talks are at an ‘advanced’ stage. Notably the EU is seeking duty reductions on vehicles, medical devices, wine, spirits and dairy products. On the other hand India is aiming to get greater access for its textiles, pharmaceuticals, steel and petroleum products. The EU is India’s biggest trading partner in goods. Bilateral trade between India and US amounted to $137.5 billion in the 2023/24 fiscal year.

Crude Oil Prices On September 5

Crude oil prices declined on September 5 as West Texas Intermediate crude traded at $63.34 down by 0.22 per cent. The price of Brent Crude fell by 0.18 per cent to $66.87.

Gold Rate On September 5

Gold prices fell in the early hours of September 5, the price of one gram of 24 karat gold was around Rs 10,685, the price of one gram of 22 karat purity gold remained around Rs 9,794. The rates for 18 karat purity gold were Rs 8,013 per gram on September 5.

Asian Indices Trade Mixed On September 5

Key Asian indices traded higher in the early hours of September 5, Hang Seng gained 0.52 per cent and the Shanghai Composite gained 0.3 per cent. At the time of writing the Nikkei 225 and the KOSPI witnessed gains of 0.76 per cent and 0.06 per cent respectively.

US Market Indices

Wall Street indices finished the session in the green on September 4. The Nasdaq Composite closed at 21,707.694 up by 0.98 per cent, the S&P 500 finished the session at 6,502.08 up by 0.83 per cent and the Dow Jones Industrial Average ended the session at 45,621.29 up by 0.77 per cent.