Market Commentary - Pre-Session
Indices likely to see soft opening As on : 25-Oct-23  08:03

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 19 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed as investors assess Australia's third-quarter inflation figures, which will give clues to the Reserve Bank of Australia's monetary policy decision when it meets on November 3. The country's third quarter inflation rate came in at 5.4%, lower than the 6% seen in the second quarter.

Wall Street ended higher on Tuesday as a spate of solid corporate earnings and upbeat forecasts stoked investor risk appetite and sparked a broad rally.

Domestic markets:

Back home, the domestic equity market experienced a sharp decline on Monday, extending its losing streak for the fourth consecutive session. The barometer index, the S&P BSE Sensex, was down 825.74 points or 1.26% to 64,571.88. The Nifty 50 index lost 260.90 points or 1.34% to 19,281.75. The domestic stock market remained shut on Tuesday, 24 October 2023, on account of Dussehra.

Foreign portfolio investors (FPIs) bought shares worth Rs 252.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,111.84 crore in the Indian equity market on 23 October, provisional data showed.

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