Market Commentary - Pre-Session
Stocks geared for higher opening; TCS Q2 results eyed As on : 11-Oct-23  08:37

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 15 points at the opening bell.

The corporate results for the second quarter of the current fiscal (Q2FY24), July to September period, will be in focus. Country's largest software services firm, Tata Consultancy Services (TCS), is all set to announce its Q2 results today, 11 October 2023.

Global markets:

Overseas, Asian stocks are trading higher on Wednesday mirroring moves on Wall Street as U.S. Treasury yields fell and oil prices slightly eased.

US stocks climbed on Tuesday as investors awaited key inflation data out of the world's largest economy, with the producer price index and consumer price index readings for September out Wednesday and Thursday, respectively.

Domestic markets:

Back home, the Indian stock market staged a sharp recovery on Tuesday, boosted by lower oil prices, a rebound in global markets, and dovish comments from Federal Reserve officials. The barometer index, the S&P BSE Sensex jumped 566.97 points or 0.87% to 66,079.36. The Nifty 50 index added 177.50 points or 0.91% to 19,689.85.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,005.49 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,963.34 crore in the Indian equity market on 10 October, provisional data showed.

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