Market Commentary - Pre-Session
Market may open on flat note As on : 17-Aug-23  08:49

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 5 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Thursday after the U.S. Federal Reserve's July minutes showed inflation concerns lingered.

Meanwhile, China's Premier Li Qiang reportedly said Wednesday the country would work to achieve its economic targets for the year. Li also said efforts should be made to ?organically combine? security with development.

US stocks closed lower on Wednesday US stocks ended lower on Wednesday after minutes from the last Federal Reserve meeting indicated that central bankers think inflation is still high enough to potentially warrant more interest rate hikes.

?With inflation still well above the Committee's longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy,? the meeting summary stated.

Domestic markets:

Back home, domestic equity benchmarks ended with decent gains on Wednesday. The barometer S&P BSE Sensex advanced 137.50 points or 0.21% to 65,539.42. The Nifty 50 index added 30.45 points or 0.16% to 19,465.

Foreign portfolio investors (FPIs) bought shares worth Rs 722.76 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,406.19 crore in the Indian equity market on 16 August, provisional data showed.

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