Market Commentary - Pre-Session
GIFT Nifty indicates subdued opening As on : 23-Apr-24  08:21

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 51 points at the opening bell.

Volatility may zoom as traders roll over positions in the F&O segment from the near month April series to May series. The April 2024 F&O contracts will expire on Thursday, 25 April 2024.

Global markets:

Overseas, Asian stocks are trading higher on Tuesday as tech shares rebounded on Wall Street and investors look toward flash business activity figures from Australia, Japan and India. Investors remained on edge ahead of earnings from some of the world?s biggest companies this week, while more cues on U.S. interest rates were also in focus.

Wall Street stocks ended higher on Monday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the US economy's health. Markets were now awaiting earnings reports from some of the biggest companies on Wall Street.

Domestic markets:

Back home, domestic stocks advanced on Monday, clawing their way back after last week's selloff. The barometer index, the S&P BSE Sensex jumped 560.29 points or 0.77% to 73,648.62. The Nifty 50 index gained 189.40 points or 0.86% to 22,336.40.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,915.23 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,542.93 crore in the Indian equity market on 22 April, provisional data showed.

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