Market Commentary - Pre-Session
GIFT Nifty signals tepid start As on : 20-Dec-23  08:47

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 5 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Wednesday, with Japan stocks extending gains to another session after the country?s central bank left its ultra-loose monetary policy unchanged at its final meeting this year.

The People?s Bank of China held its one-year loan prime rate at 3.45%. The five-year benchmark loan rate was unchanged at 4.2%.

US stocks ended higher on Tuesday as the Federal Reserve?s recent dovish shift on rates lifted stocks.

Domestic markets:

Back home, the domestic stock market showed resilience on Tuesday as benchmark indices overcame early losses to achieve new highs. The barometer index, the S&P BSE Sensex advanced 122.10 points or 0.17% to 71,437.19. The Nifty 50 index added 34.45 points or 0.16% to 21,453.10. Both the indices attained record closing high levels.

Foreign portfolio investors (FPIs) sold shares worth Rs 601.52 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 294.35 crore in the Indian equity market on 19 December, provisional data showed.

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