Share Market, NSE Nifty, BSE Sensex, Global Markets; Wall Street, Asian Shares: Domestic equity benchmarks Sensex and Nifty will likely start today's (September 30) session in a negative zone after the previous session's consolidation. At around 8:34 am, GIFT Nifty futures, an early indicator of the 50-share index, were down amid rising geo-political tensions.

Global market stocks in rally; Wall Street records new highs

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In Friday's session, the Dow Jones index of the US clinched a new high. The US consumer spending notched higher only slightly, with the annual rise in prices being the smallest in just more than 3.5 years.

Major indexes hit a record high in US stock market after the Federal Reserve cut interest rates by 50 basis points. The Dow Jones index crossed 42,100 for the first time, and the S&P 500 hit a record high of 5,724, up 100 points, and Nasdaq ended higher by 2.51 per cent.

Asian markets:

The MSCI Asia ex-Japan index meanwhile traded with gains of 0.64 per cent.  Nonetheless, most Asian markets traded in the red, with the most cut of over 4 per cent seen on the Japan's Nikkei index. The drag in the index is reported to come after the yen strengthened following the victory of Shigeru Ishiba in the ruling Liberal Democratic Party's leadership race late last week.

Previous session summary:

After back-to-back record highs on the Street, equity indices in India saw consolidation and ended lower amid profit booking. The drag was led by amid fall in the banking, financial services and realty stocks.