JKB Financial Services Ltd.

As on : 29-Aug-2023

Market Commentary - Pre-Session
29-Aug-2023 08:09

GIFT Nifty indicates subdued opening

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 18 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Tuesday after US equities moved higher overnight, with traders awaiting a raft of economic figures over the next few days for clues on the outlook for global central bank policy.

Wall Street ended higher and U.S. Treasury yields retraced earlier gains on Monday, capping the first session of a week likely to be light in volume but heavy with economic data that could affect whether the Federal Reserve will take a rate-hike breather in September.

Domestic markets:

Back home, domestic equity benchmarks managed to make slight gains on Monday, breaking a two-day losing streak. The barometer index, the S&P BSE Sensex gained 110.09 points or 0.17% to 64,996.60. The Nifty 50 index added 40.25 points or 0.21% to 19,306.05.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,393.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,264.01 crore in the Indian equity market on 28 August, provisional data showed.

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