Market Commentary - Pre-Session
Stocks may open higher; Inflation data eyed As on : 12-Sep-23  08:33

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 21 points at the opening bell.

On the macro front, India's industrial production data for July will be declared today, 12 September 2023. Inflation rate for August will also be announced today.

Global markets:

Overseas, Asian stocks are trading higher on Tuesday after Wall Street saw a tech rally led by Tesla and Qualcomm.

US stocks rose on Monday to start a big week of inflation data as investors bought up tech shares in the wake of recent weakness.

Investors are looking forward to key US inflation data in the week ahead, with the latest consumer price index due Wednesday and producer price index Thursday.

Domestic markets:

Back home, the equity indices ended the day with significant gains, extending their winning streak for the seventh day in a row. The barometer index, the S&P BSE Sensex jumped 528.17 points or 0.79% to 67,127.08. The Nifty 50 index advanced 176.40 points or 0.89% to 19,996.35.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,473.09 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 366.24 crore in the Indian equity market on 11 September, provisional data showed.

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