Market Commentary - Pre-Session
Market may slide in early trade As on : 14-Aug-23  08:29

GIFT Nifty:

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

Global markets:

Overseas, Asian stocks are trading lower on Monday as investors look toward key data from Japan and China this week. Japan's gross domestic product for the second quarter will be out on Tuesday, as well as its inflation print for Friday. China will release industrial production and retail sales for July, as well as house prices on Tuesday.

US stocks slipped on Friday after producer price inflation data came in above market expectations, heightening investors' concerns that the world's largest economy could keep rates higher for longer.

Data in the US showed that annual producer inflation accelerated to 0.8% in July from 0.2% in the previous month.

Domestic markets:

Back home, Indian equity indices ended with modest losses on Friday, sliding for the second consecutive trading session. The barometer index, the S&P BSE Sensex slipped 365.53 points or 0.56% to 65,322.65. The Nifty 50 index lost 114.80 points or 0.59% to 19,428.30.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,073.28 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 500.35 crore in the Indian equity market on 11 August, provisional data showed.

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