Market Commentary - Pre-Session
Market may open near flat line As on : 10-Apr-24  08:40

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 7 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Wednesday as of Japan?s corporate inflation climbed in March and rate decisions are assessed from New Zealand and Thailand?s central banks.

South Korea?s markets are closed Wednesday, as the country heads to the polls to elect its next parliament. Japan?s corporate goods price index rose 0.8% in March from a year ago, accelerating from the revised 0.7% increase in February.

U.S. stock indexes ended nearly flat on Tuesday, pressured by financial-sector stocks as investors awaited a key inflation reading and braced for major banks to kick off earnings-reporting season later this week. The widely watched report on March's consumer-price index is due on Wednesday.

Domestic markets:

Back home, domestic benchmark indices ended with minor cuts after scaling fresh all-time highs on Tuesday. The S&P BSE Sensex shed 58.80 points or 0.08% to 74,683.70. The Nifty 50 index lost 23.55 points or 0.10% to 22,642.75.

Foreign portfolio investors (FPIs) sold shares worth Rs 593.20 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,257.18 crore in the Indian equity market on 9 April, provisional data showed.

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