Market Commentary - Pre-Session
GIFT Nifty indicates subdued opening As on : 06-Jul-23  08:37

SGX Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 41 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Thursday following overnight losses in the US stocks after hawkish signals from the Federal Reserve's latest meeting minutes.

US stocks dipped after the minutes from the Federal Reserve's June monetary policy meeting showed officials intend to resume raising interest rates after a pause last month. The minutes come ahead of US payrolls data, due out on Friday.

?Almost all? officials who participated in the June Federal Open Market Committee meeting said that additional increases in interest rates would be appropriate, citing risks including the ?tight? labour market, the minutes revealed on Wednesday.

Domestic markets:

Back home, the benchmark indices ended near the flat line after a volatile session on Wednesday. The barometer index, the S&P BSE Sensex declined 33.01 points or 0.05% to 65,446.04. The Nifty 50 index added 9.50 points or 0.05% to 19,398.50.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,603.15 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 439.01 crore in the Indian equity market on 5 July, provisional data showed.

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