Sensex, Nifty Continue Record Run In Second Session; IT Stocks Lead

Markets in the Asia-pacific region rose on Friday as optimism from the U.S. Federal Reserve’s policy-meet outcome continued to weigh on the benchmark U.S. 10-year treasury yields.

Shares in Japan, South Korea, and Australia edged higher. The Nikkei was 1.19% up at 33,075.89, and Kospi was up 0.94% at 2,568.06 as of 07:30 a.m.

The possibility of monetary condition easing in the world’s largest economy next year continued to exert pressure on the U.S. 10-year treasury yields.

A decline in safe-haven U.S. Treasury yields increases charm for risk assets like emerging markets’ shares for investors.

The yield on the benchmark 10-year treasury note settled at 3.92% on Thursday, compared to 4.04%, according to data on the Department of Treasuries.

The S&P 500 index rose 0.26%, and the Nasdaq 100 fell 0.15% on Thursday. The Dow Jones Industrial Average rose 0.43%.

Brent crude was trading 0.21% higher at $76.78 a barrel. Gold was up 0.19% to $2,032.47 an ounce.

GIFT Nifty was down 0.09 at 21,423 as of 08:02 a.m. 

India’s benchmark indices closed at an all-time high on Thursday as the U.S. Federal Reserve raised hopes of an interest rate cut next year.

The NSE Nifty 50 ended 256 points, or 1.23%, higher at 21,182.70, while the S&P BSE Sensex closed 930 points, or 1.34%, up at 70,514.20.

The Nifty and the Sensex also hit an intraday record high of 21,210.90 and 70,602.89 points, respectively.

Overseas investors stayed net buyers of Indian equities for the fifth consecutive session on Thursday. Foreign portfolio investors mopped up stocks worth Rs 3,570.1 crore, while domestic institutional investors turned net buyers and bought equities worth Rs 553.2 crore, the NSE data showed.

The Indian rupee strengthened 7 paise to close at Rs 83.33 against the U.S. dollar on Thursday.