Market Commentary - Pre-Session
Stcks may nudge lower in opening bell As on : 22-Dec-23  08:49

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could slide 41 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Friday, with the Bank of Japan?s October meeting minutes showing board members debated on how to communicate the shift in their yield control stance. Japan?s headline inflation rate slowed to 2.8%, down from 3.3% in October, the slowest pace of inflation since July 2022.

US stocks rebounded on Thursday as the year-end rally resumed. Chip stocks gained, led by Micron Technology after its better-than-expected quarterly forecast.

The third reading of real gross domestic product came in lower than expected. Real gross domestic product rose at an annual rate of 4.9% in the third quarter, according to the third estimate from the Bureau of Economic Analysis. That?s down from the second estimate?s increase of 5.2%.

Domestic markets:

Back home, domestic equity barometers ended with modest gains on Thursday. The benchamarks started on a lower note today, but gradually rebounded to close with gains, despite mixed global cues. The barometer index, the S&P BSE Sensex jumped 358.79 points or 0.51% to 70,865.10. The Nifty 50 index added 104.90 points or 0.50% to 21,255.05.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,636.19 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,464.70 crore in the Indian equity market on 21 December, provisional data showed.

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