Market Commentary - Pre-Session
Barometers may drift lower in early trade As on : 02-Jan-24  08:43

GIFT Nifty:

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

Global markets:

Overseas, Asian markets are trading mixed on the first trading day of the year. Japan was assessing the damage from a powerful earthquake that struck its central region on New Year?s Day. Markets in the region are closed until January 4.

A private survey showed manufacturing activity in China expanded in December. The Caixin manufacturing purchasing managers? index came in at 50.8 in December, according to a release Tuesday, following a 50.7 reading for November. China?s official PMI fell to 49 in December from 49.4 the previous month, the country?s National Bureau of Statistics said in a Sunday release.

U.S. markets were closed on Monday for New Year?s Day.

Domestic markets:

Back home, the domestic stock market closed with marginal gains on Monday, with the Nifty 50 settling just below the 21,750 mark. The barometer index, the S&P BSE Sensex, rose 31.68 points or 0.04% to 72,271.94. The Nifty 50 index added 10.50 points or 0.05% to 21,741.90.

Foreign portfolio investors (FPIs) sold shares worth Rs 855.80 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 410.46 crore in the Indian equity market on 1 January, provisional data showed.

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