Market Commentary - Pre-Session
GIFT Nifty indicates subdued opening As on : 19-Mar-24  08:57

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 32 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower as investors await cues from various central bank decisions over the week, starting with the Bank of Japan. As per reports, the Bank of Japan is today likely to end the longest streak of negative interest rates. Australia?s central bank will also announce its rates policy on Tuesday and is widely expected to hold rates.

Wall Street's main indexes closed higher on Monday, as tech companies gained, while investors awaited monetary policy guidance from the Federal Reserve. Investors will be watching insights on the U.S. central bank's future rate trajectory.

Domestic markets:

Back home, the domestic equity benchmarks clawed their way back from early losses to close slightly higher on Monday. The barometer index, the S&P BSE Sensex gained 104.99 points or 0.14% to 72,748.42. The Nifty 50 index rose 32.35 or 0.15% to 22,055.70.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,051.09 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,260.88 crore in the Indian equity market on 18 March, provisional data showed.

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