Nikkei, Hang Seng, Kospi jump 2% as US inflation eases

Stock Market Live: Latest inflation readings in India and the US are likely to trigger a gap-up start for benchmark indices Sensex and Nifty on Wednesday, a day after a market holiday.

At 7:15 am, the Gift Nifty futures quoted at 19,730, up over 200 points from Nifty futures’ last close.

Domestic retail inflation eased to a five month low of 4.87 per in October from 5.02 per cent in September. Read

In the US, consumer prices remained flat in October versus expectations of a gain of 0.1 per cent MoM. On an annual basis, the CPI climbed 3.2 per cent after rising 3.7 per cent in September. Read

US 10-year bond yield tumbled to 4.5 per cent on the soft inflation reading and stocks rallied overnight.

The S&P 500 rose 1.9 per cent, the Dow jumped 1.43 per cent and the Nasdaq rallied 2.37 per cent.

Asian markets were also upbeat this morning with Nikkei, Hang Seng and Kospi surging 2 per cent each. S&P/ASX 200 was up 1.5 per cent.

New listing: Back home, ASK Automotive is eyeing up to 11 per cent listing gain ahead of its market debut today. The issue price is fixed at Rs 282.

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