Global Market Highlights: Better-than-expected US inflation data eases rate hike worries, lifts investor sentiment; here's how Nifty, Sensex are positioned

Sensex finished volatile session on Wednesday 367 pts off day's low, Nifty 50 reclaimed 18,300 

Both headline indices finished a session marked with see-saw moves on May 10 about 0.3 per cent higher.

The Sensex ended with a gain of 178.9 points at 61,940.2, having recovered 367.3 points from its weakest level of the day.

The Nifty 50 settled at 18,315.1, up 49.2 points from its previous close, after broadly moving in the 18,200-18,350 band in intraday trade. 

Here's how the gauges moved through the day: 

Nifty 50 

Sensex 

Images: NSE, BSE

Read more on how the Indian share market fared on May 10

Asian Stock Market Update | Equities rise as cooling US inflation drives hopes of end of rate hikes 

Equities in Asian markets are largely in the green as investors cheer signs of easing inflationary pressure in the US after data shows consumer prices in April increased at a slower-than-expected pace. MSCI's broadest index of Asia Pacific shares outside Japan is up 0.2 per cent at this hour. 

The US Labor Department's CPI rose 4.9 per cent in April from a year ago. The reading, as against market expectations of five per cent, supported optimism that the Fed will pause its aggressive hikes in benchmark interest rates soon.

On a sequential basis, however, the US inflation reading was up 40 basis points.

Here's a glance at some of the major indices across Asia: 

• Japan's Nikkei 225: up 0.2 per cent
• China's Shanghai Composite: up 0.4 per cent
• Hong Kong's Hang Seng: up 0.2 per cent 
• South Korea's KOSPI: up one per cent
• Singapore's Straits Times: down 0.3 per cent

US Stock Market Update | S&P 500, Nasdaq Composite rise as investors cheer softer-than-expected US inflation reading, Alphabet AI rollout

The Nasdaq Composite — one of the three main Wall Street indices — finished Wednesday's session at its highest intraday level in more than eight months, boosted by a slightly lower-than-expected increase in US inflation last month and Google parent Alphabet's latest AI rollout.

Here's where the three main US indices fared at the end of the day and some other highlights: 

• Dow Jones Industrial Average: down 30.5 points or 0.1 per cent at 33,531.3
• S&P 500: up 18.5 points or 0.5 per cent at 4,137.6
• Nasdaq Composite: up 126.9 points or one per cent at 12,306.4
• April headline CPI at 4.9 per cent
• Airbnb falls on weak bookings forecast

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What to expect at the opening bell on Dalal Street

Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty 50 index — are up 45.5 points or 0.3 per cent at 18,404 at this hour, having gained as much as 66.5 points to 18,425 earlier in the day.