Market Commentary - Pre-Session
Market poised for soft opening As on : 18-Oct-23  08:35

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 20 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Wednesday as a blast at a Gaza hospital dealt a blow to hopes for containing the crisis.

Economic data from China showed stronger-than-expected growth. China posted 4.9% growth in the July to September quarter from a year earlier, according to a release from China's National Bureau of Statistics on Wednesday. However, this figure was lower than the 6.3% year-on-year expansion seen in the second quarter.

US stocks closed near the flat line on Tuesday as investors analyzed the latest bond yield moves and the corporate earnings season gained steam.

Domestic markets:

Back home, the stock market bounced back on Tuesday, recovering from the losses of the previous three sessions. The barometer index, the S&P BSE Sensex added 261.16 points or 0.39% to 66,428.09. The Nifty 50 index added 79.75 points or 0.40% to 19,811.50.

Foreign portfolio investors (FPIs) bought shares worth Rs 263.68 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 112.55 crore in the Indian equity market on 17 October, provisional data showed.

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