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As on Mar 28, 2024 12:00 AM |
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 37 points at the opening bell. Global markets: Overseas, Asian stocks are trading lower on Thursday as sentiment remained strained ahead of key U.S. inflation data and addresses by Federal Reserve officials. Wall Street indexes rose sharply on Wednesday, rebounding after three days of losses as a drop in bond yields help spur strong gains in utility stocks. S&P 500 closed at record high. Fed Governor Christopher Waller said that there is no hurry to cut interest rate right now. Current inflation reading suggests rates can stay at current level for longer to bring down the inflation sustainably to 2% target rate, Waller reportedly said at Economic Club in New York. Markets are now awaiting more cues on inflation from PCE price index data- which is the Fed?s preferred inflation gauge. The data is due on Friday, when markets will be closed, but is largely expected to factor into the outlook for U.S. interest rates. Along with the PCE data, addresses from Fed Chair Jerome Powell is also due on Friday. Domestic markets: Back home, the domestic equity benchmarks surged on Wednesday despite mixed global cues. In the barometer index, the S&P BSE Sensex jumped 526.01 points or 0.73% to 72,996.31. The Nifty 50 index gained 118.95 points or 0.54% to 22,123.65. Foreign portfolio investors (FPIs) bought shares worth Rs 2,170.32 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,197.61 crore in the Indian equity market on 27 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 25 points at the opening bell. Global markets: Overseas, Asian stocks are trading mixed on Wednesday as investors assessed economic data from China and Australia. China?s combined industrial profit for January and February climbed 10.2% year on year, data showed. Industrial profits fell 2.3% for the whole of 2023. Data from Australia showed consumer price inflation in February rose 3.4% year over year. U.S. stocks slipped on Tuesday as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve's policy path. The Personal Consumption Expenditure data is due to be released on Friday. Domestic markets: Back home, domestic indices shed some points on Tuesday, ending their three-day rally. The barometer index, the S&P BSE Sensex slipped 361.64 points or 0.50% to 72,470.30. The Nifty 50 index lost 92.05 points or 0.42% to 22,004.70. The 50-unit index rose 1.28% in the previous three sessions. Foreign portfolio investors (FPIs) bought shares worth Rs 10.13 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 5,024.36 crore in the Indian equity market on 26 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 20 points at the opening bell. Global markets: Overseas, Asian stocks are trading mixed as anticipation of more key economic readings this week kept sentiment on edge. U.S. stocks took a breather on Monday amid speculation the Federal Reserve will be able to cut interest rates as soon as June. Domestic markets: Back home, the equity benchmarks ended higher on Friday, extending the winning run to a third consecutive session. The barometer index, the S&P BSE Sensex gained 190.75 points or 0.26% to 72,831.94. The Nifty 50 index rose 84.80 points or 0.39% to 22,096.75. The 50-unit index has risen 1.28% in three sessions. The domestic stock market remained shut on Monday, 25 March 2024, on account of Holi. Foreign portfolio investors (FPIs) sold shares worth Rs 3,309.76 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,764.87 crore in the Indian equity market on 22 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 14 points at the opening bell. Global markets: Overseas, Asian stocks are trading mixed on Friday as investors assessed Federal Reserve's policy outcome. Nikkei 225 crossed 41,000 to hit a fresh all-time high on Friday as Japan inflation accelerated in February. Japan's headline consumer price rose to 2.8% on year in February, from 2.2% in January. U.S. stocks hit fresh records, continuing its rally after the U.S. Federal Reserve held rates steady and maintained its rate cut forecast for 2024. The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday even though inflation continues to drop from multi-decade peaks. Domestic markets: Back home, domestic stocks surged on Thursday, with the Nifty 50 regaining 22,000 mark. The Fed's dovish stance on interest rates, coupled with India's strong PMI reading lifted spirits. The barometer index, the S&P BSE Sensex gained 539.50 points or 0.75% to 72,641.19. The Nifty 50 index added 172.85 points or 0.79% to 22,011.95. Foreign portfolio investors (FPIs) sold shares worth Rs 1,826.97 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,208.87 crore in the Indian equity market on 21 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 52 points at the opening bell. Global markets: Overseas, Asian stocks are trading higher on Thursday with Japan's Nikkei hitting record highs on Thursday after Wall Street set new highs as the Federal Reserve signaled it remains on track for three interest-rate cuts this year despite a recent uptick in inflation. Wall Street's main stock indexes closed higher on Wednesday after the Federal Reserve eased investor jitters by keeping borrowing costs unchanged. Following its two-day policy meeting, the central bank?s rate-setting Federal Open Market Committee said it will keep its benchmark overnight borrowing rate in a range between 5.25%-5.5%. Along with the decision, Fed officials penciled in three quarter-percentage point cuts by the end of 2024. However, Fed's outlook for rate cuts in 2025 has come down to three times, than earlier four. Chair Jerome Powell said the Fed also did not elaborate on timing but said he still expects the cuts to come, as long as the data cooperate. Domestic markets: Back home, the domestic stock market inched higher on Wednesday, clawing back some losses after a volatile session. The barometer index, the S&P BSE Sensex, was up 89.64 points or 0.12% to 72,101.69. The Nifty 50 index rose 21.65 points or 0.10% to 21,839.10. Foreign portfolio investors (FPIs) sold shares worth Rs 2,599.19 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,667.52 crore in the Indian equity market on 20 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 41 points at the opening bell. Global markets: Overseas, Asian stocks are trading higher on Wednesday after US equities rose overnight and bonds also rallied as traders brace for the latest monetary policy decision from the Federal Reserve. Japanese markets are closed for a holiday. Wall Street's three major indexes closed higher on Tuesday after shares in hotshot chipmaker Nvidia shook off early losses and investors looked ahead to the Federal Reserve's policy meeting conclusion on Wednesday for clues on interest rate policy. Domestic markets: Back home, domestic shares plunged on Tuesday, erasing gains from the previous session. The barometer index, the S&P BSE Sensex tumbled 736.37 points or 1.01% to 72,012.05. The Nifty 50 index declined 238.25 points or 1.08% to 21,817.45. Foreign portfolio investors (FPIs) bought shares worth Rs 1,421.48 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 7,449.48 crore in the Indian equity market on 19 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 32 points at the opening bell. Global markets: Overseas, Asian stocks are trading lower as investors await cues from various central bank decisions over the week, starting with the Bank of Japan. As per reports, the Bank of Japan is today likely to end the longest streak of negative interest rates. Australia?s central bank will also announce its rates policy on Tuesday and is widely expected to hold rates. Wall Street's main indexes closed higher on Monday, as tech companies gained, while investors awaited monetary policy guidance from the Federal Reserve. Investors will be watching insights on the U.S. central bank's future rate trajectory. Domestic markets: Back home, the domestic equity benchmarks clawed their way back from early losses to close slightly higher on Monday. The barometer index, the S&P BSE Sensex gained 104.99 points or 0.14% to 72,748.42. The Nifty 50 index rose 32.35 or 0.15% to 22,055.70. Foreign portfolio investors (FPIs) sold shares worth Rs 2,051.09 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,260.88 crore in the Indian equity market on 18 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 45 points at the opening bell. On the political front, Lok Sabha elections 2024 will take place in seven phases from April 19 to June 1 and the counting of votes will take place on June 4, the Election Commission announced on 16 March 2024. Global markets: Overseas, Asian stocks are trading mixed ahead of key central bank policy decisions due this week for clues into the future global interest rate trajectory. The Bank of Japan's rate decision is scheduled for Tuesday, while Federal Reserve is due to announce its rate decision on Wednesday. China reported stronger-than-expected numbers for retail and fixed asset investment for the first two months of 2024. Retail sales rose 5.5% and industrial production was up 7%. The unemployment rate for cities was 5.3% in February. U.S. stocks closed lower on Friday, led by technology-related megacaps, while investors weighed the interest rate outlook ahead of next week's Federal Reserve meeting. Domestic markets: Back home, domestic stocks fell on Friday, tracking losses in other Asian stock markets. In the barometer index, the S&P BSE Sensex slipped 453.85 points or 0.62% to 72,643.43. The Nifty 50 index lost 123.30 points or 0.56% to 22,023.35. Foreign portfolio investors (FPIs) bought shares worth Rs 848.56 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 682.26 crore in the Indian equity market on 15 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 26 points at the opening bell. Global markets: Overseas, Asian stocks are trading lower on Friday tracking overnight losses on Wall Street after a hot US inflation report. China?s central bank left a key lending rate unchanged for a seventh month. The People?s Bank of China kept the interest rate on its one-year medium-term lending facility loans at 2.50%. U.S. stocks ended lower on Thursday after higher-than-estimated US producer prices in February suggested that the US Federal Reserve could reduce the number of rate cuts this year. US producer price index for final demand rose 0.6% last month after advancing by an unrevised 0.3% in January. The gauge rose 1.6% from a year earlier, the largest annual advance since September. US retail sales rose 0.6% last month. Data for January was revised lower to show sales tumbling 1.1% instead of the previously reported 0.8%, while sales in December were also downgraded. Domestic markets: Back home, the domestic stock market rebounded on Thursday, fueled by buying across most sectors. In the barometer index, the S&P BSE Sensex gained 335.39 points or 0.46% to 73,097.28. The Nifty 50 index added 148.95 points or 0.68% to 22,146.65. Foreign portfolio investors (FPIs) sold shares worth Rs 1,356.29 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 139.47 crore in the Indian equity market on 14 March, provisional data showed.
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Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 23 points at the opening bell. Global Markets: The US Dow Jones index futures is currently up by 29 points, signaling a positive opening for US stocks today. Asian markets remained largely flat on Thursday after Wall Street's tech-driven rally fizzled out. Investors are now focused on two key events: the outcome of spring wage negotiations in Japan and India's wholesale inflation data. Japan's wage negotiations have concluded, with early reports indicating large companies offered significant pay raises. This could lead the Bank of Japan to tighten its monetary policy when they meet next week. In the US market, the S&P 500 and Nasdaq closed slightly lower on Wednesday as investors took profits from chipmaker stocks. This comes as they await producer price data and further signs on the inflation trend before the Federal Reserve meeting next week. Domestic Equity Market: The domestic stock markets plunged on Wednesday in a broad sell-off, as the recent meltdown in mid and small-cap stocks continued to wreak havoc. The benchmark Sensex crashed 906.07 points or 1.23% to settle at 72,761.89, while the Nifty 50 tumbled 338 points or 1.51% to close at 21,997.70. Foreign portfolio investors (FPIs) sold shares worth Rs 4,595.06 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 9,093.72 crore in the Indian equity market on 13 March 2024, provisional data showed.
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Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 20 points at the opening bell. India's industrial growth slowed down to 3.8% in January, compared to December's revised figure of 4.2%. This suggests a slight decrease in factory output. India's Consumer Price Index (CPI) inflation rate remained steady at 5.09% in February, staying within the central bank's target range. This is the sixth month in a row inflation has been within the target, but it is still above the medium-term goal of 4%. Global Markets: The US Dow Jones index futures is currently up by 27 points, signaling a positive opening for US stocks today. Asian markets advanced on Wednesday after Wall Street jumped overnight, following U.S. inflation data that largely met expectations. The U.S. consumer price index in February climbed 0.4% on the month and 3.2% year over year, the Bureau of Labor Statistics said on Tuesday. Overnight in the U.S., all three major indexes climbed after the inflation readings. The tech-heavy Nasdaq saw the biggest jump, while the S&P 500 even reached a new record high. Domestic Equity Market: Domestic equity benchmarks closed slightly higher on Tuesday, led by gains in IT stocks. The Nifty 50 index surpassed the 22,300 mark. Selective buying in large-cap stocks lifted key indices into positive territory despite a volatile session. However, the broader market witnessed sharp corrections, with PSU banks, media and metal stocks declining. Bucking the trend, IT and private bank shares advanced. Investors now await upcoming inflation data in the US and India, hoping for further moderation that could pave the way for an interest rate cut. In the barometer index, the S&P BSE Sensex gained 165.32 points or 0.22% to 73,667.96. The Nifty 50 index added 3.05 points or 0.01% to 22,335.70. Foreign portfolio investors (FPIs) bought shares worth Rs 73.12 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,358.18 crore in the Indian equity market on 12 March 2024, provisional data showed.
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Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 39 points at the opening bell. Global Markets: The US Dow Jones index futures is currently up by 26 points, signaling a positive opening for US stocks today. Asian markets exhibited a mixed performance on Tuesday. Most stocks edged higher, but Japanese stocks extended their losses. Investor sentiment remained cautious as they awaited the release of the U.S. Consumer Price Index (CPI) data later on Tuesday. This data is expected to be a key factor in the Federal Reserve's plans for potential interest rate adjustments in 2024. Unlike other Asian markets, Japanese stocks continued their downward trend. This decline reflects growing speculation that the Bank of Japan might raise interest rates sooner than anticipated. The U.S. market witnessed a pullback on Monday, snapping a streak of record highs for major indices. Information technology stocks faced selling pressure, raising questions about whether stocks tied to artificial intelligence can sustain their momentum after significant rallies. Domestic Equity Market: Foreign portfolio investors (FPIs) bought shares worth Rs 4,212.76 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,238.39 crore in the Indian equity market on 11 March 2024, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 31 points at the opening bell. Global markets: Overseas, Asian stocks are trading lower on Monday taking cues from the decline on Wall Street as investors assessed Japan's GDP data and awaited the U.S. CPI print. Japan averted a technical recession, with revised official data showing the economy expanded 0.4% in the October-December period last year. This comes after earlier estimates had shown that Japan?s economy shrank 0.4% in the fourth quarter on an annualized basis, following a revised 3.3% slump in the third quarter. Separately, China recorded its first month of inflation in four months with the country?s consumer price index climbing 0.7% year on year in February. The figure is a marked reversal from the 0.8% fall in January. U.S. stocks lost ground on Friday with artificial intelligence major Nvidia finishing down more than 5% in its worst session since late May. Investors also assessed fresh data, with the Labor Department?s Bureau of Labor Statistics reporting that nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%. Investors look ahead to US inflation data due Tuesday that is expected to show a further slowing in core prices. Domestic markets: Back home, domestic markets edged higher on Thursday, extending their winning streak to two days. The barometer index, the S&P BSE Sensex added 33.40 points or 0.05% to 74,119.39. The Nifty 50 index rose 19.50 points or 0.09% to 22,493.55. The domestic market remained closed on 8 March 2024, on account of Mahashivratri. Foreign portfolio investors (FPIs) bought shares worth Rs 7,304.11 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,601.81 crore in the Indian equity market on 7 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 10 points at the opening bell. India's GDP growth in the current fiscal year ending in March could be very close to 8%, Reserve Bank of India (RBI) governor Shaktikanta Das reportedly said. Das said rural demand had been improving and was much stronger than a year ago, while urban demand continued to be very strong. Global markets: Overseas, Asian stocks are trading higher on Thursday, with several stock indexes hitting record highs. Asia stocks rose helped by Federal Reserve Chair Jerome Powell?s comments that interest rates will likely fall this year. U.S. stocks ended higher on Wednesday after Federal Reserve Chair Jerome Powell reassured investors that while inflation is not quite tamed rate cuts can be expected this year. Federal Reserve Chair Jerome Powell reiterated to lawmakers that the US central bank is in no rush to cut interest rates until policymakers are convinced they have won their battle over inflation. In prepared testimony to a House panel Wednesday, the Fed chief said it will likely be appropriate to begin lower borrowing costs ?at some point this year,? but made clear they?re not ready yet. Domestic markets: Back home, the key equity benchmarks erased intraday losses and ended with modest gains on Wednesday. The barometer index, the S&P BSE Sensex gained 408.86 points or 0.55% to 74,085.99. The Nifty 50 index added 117.75 points or 0.53% to 22,474.05. Both the indices attained record closing high levels. Foreign portfolio investors (FPIs) bought shares worth Rs 2,766.75 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,149.88 crore in the Indian equity market on 6 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 8 points at the opening bell. Global markets: Overseas, Asian stocks are trading lower on Wednesday, mirroring a tech slide on Wall Street led by Apple, following a report that iPhone sales dropped in China. A report showed iPhone sales plunged in China in the first six weeks of 2024. Investors monitored shares of Apple suppliers in Taiwan and South Korea. U.S. stocks closed sharply lower on Tuesday as market participants eyed upcoming economic data and central bank actions. All eyes are on Fed Chair Jerome Powell's testimony before Congress. In his semiannual testimony on Wednesday and Thursday, he is reportedly expected to double down on his message that there?s no rush to cut rates. US services industry growth slowed a bit in February. The Institute for Supply Management (ISM) said on Tuesday that its non-manufacturing PMI slipped to 52.6 last month from 53.4 in January. Domestic markets: Back home, the domestic stock market closed slightly lower on Tuesday after a four-day winning streak. The barometer index, the S&P BSE Sensex, was down 195.16 points or 0.26% to 73,677.13. The Nifty 50 index declined 49.30 points or 0.22% to 22,356.30. Foreign portfolio investors (FPIs) bought shares worth Rs 574.28 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,834.61 crore in the Indian equity market on 5 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 50 points at the opening bell. Global markets: Overseas, Asian stocks are trading mixed on Tuesday as investors showed their disappointment at Beijing's plans to support the economy as its week-long annual session of parliament, the National People's Congress, got underway. China?s ?Two Sessions? meeting got under way, with investors watching out for the details of its economic plans after the country projected a GDP growth target of ?around 5%? for 2024. The country also expects the inflation rate to rise to ?around 3%.? U.S. stocks closed lower on Monday, backing away from record highs, while US Treasury yields ticked higher as investors looked ahead to key jobs data and Federal Reserve Chair Jerome Powell's congressional testimony later in the week. All eyes are on Fed Chair Jerome Powell's testimony before Congress. In his semiannual testimony on Wednesday and Thursday, he is reportedly expected to double down on his message that there?s no rush to cut rates. Domestic markets: Back home, the domestic stock markets extended their winning streak for a fourth day, with both Sensex and Nifty closing slightly higher on Monday. The barometer index, the S&P BSE Sensex, was up 66.14 points or 0.09% to 73,872.29. The Nifty 50 index added 27.20 points or 0.12% to 22,405.60. Foreign portfolio investors (FPIs) sold shares worth Rs 564.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,542.87 crore in the Indian equity market on 04 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 10 points at the opening bell. Global markets: Overseas, Asian stocks are trading higher on Monday, tracking US shares higher into a week that includes Federal Reserve boss Jerome Powell?s congressional testimony and China?s National People?s Congress. Japan?s Nikkei-225 Stock Average surpassed 40,000 for the first time as the government discusses officially stating that the country?s economy has overcome deflation, as per reports. Chinese equities will be in focus ahead of the 14th National People?s Congress, an annual parliamentary gathering in Beijing, that will begin Tuesday as markets await more stimulus measures to aid a soft economy. U.S. stocks rose on Friday, with the S&P 500 and Nasdaq closing at record highs, as technology stocks rallied on continued enthusiasm for artificial intelligence, with further support from declining Treasury yields. All eyes will be on Federal Reserve Chair Jerome Powell when he testifies before lawmakers on Wednesday and Thursday, Domestic markets: Back home, the domestic stock market hit new high during a special trading session on Saturday. Both Sensex and Nifty reached record levels. In the barometer index, the barometer index, the S&P BSE Sensex up 60.80 points or 0.08% to 73,806.15. The Nifty 50 index added 39.65 points or 0.18% to 22,378.40. Foreign portfolio investors (FPIs) sold shares worth Rs 81.87 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 44.71 crore in the Indian equity market on 02 March, provisional data showed.
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Domestic stock market indices are likely to open higher on Saturday tracking positive global market cues from Wall Street. The National Stock Exchange and Bombay Stock Exchange will hold a special live trading session today, 2 March 2024 in the equity and F&O segments with an intra-day switchover from the Primary site to the Disaster Recovery site. There will be two sessions ? the first from 9:15 am to 10 am and the second from 11:30 am to 12:30 pm. GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 65 points at the opening bell. Global markets: U.S. stocks rose on Friday, with the S&P 500 and Nasdaq closing at record highs, as technology stocks rallied on continued enthusiasm for artificial intelligence, with further support from declining Treasury yields. Domestic markets: Back home, domestic stock market continued their hot streak, closing at record highs on Friday. Both the Sensex and Nifty indexes scaled new peaks, fueled by a combination of positive factors. In the barometer index, the barometer index, the S&P BSE Sensex zoomed 1,245.05 points or 1.72% to 73,745.35. The Nifty 50 index surged 355.95 points or 1.62% to 22,338.75. Foreign portfolio investors (FPIs) bought shares worth Rs 128.94 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,814.53 crore in the Indian equity market on 1 March, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 69 points at the opening bell. Global markets: On the macro front, India?s economy grew much faster than expected in the October to December quarter. Data showed GDP grew 8.4% in the third fiscal quarter on the back of higher private consumption and strong manufacturing and construction activity. The October-December quarter reading was also higher than the 7.6% growth clocked in the prior three months. The government raised its GDP growth outlook for fiscal year 2023-24 to 7.6% from 7.3% forecast earlier. India's eight core sectors posted a growth of 3.6% in January, according to data released by the Ministry of Commerce and Industry on February 29. In December 2023, core sector growth had printed in at 3.8%. The commerce ministry, on February 29, revised this figure up to 4.9%. Overseas, Asian stocks are trading higher as investors digested manufacturing data from the mainland. Japan?s Nikkei 225 index hit a fresh record high. South Korea markets were shut for the Movement Day holiday. China?s manufacturing activity contracted for a fifth straight month in February, official figures on Friday showed. Data from China?s National Bureau of Statistics showed manufacturing PMI fell to 49.1 in February from 49.2 in January. The Caixin/S&P Global manufacturing PMI, however, edged up to 50.9 in February from 50.8 in the previous month. Overnight on Wall Street, the S&P 500 and Nasdaq closed at record highs as tech and chip stocks rallied. The U.S. personal consumer expenditures (PCE) price index, the Federal Reserve's preferred gauge for inflation, rose 0.3% in January from a month earlier. The core PCE price index rose 0.4%. Domestic markets: Back home, the equity benchmarks ended with modest gains on Thursday. Market volatility was notable due to the expiry of the February F&O series. The barometer index, the S&P BSE Sensex up 195.42 points or 0.27% to 72,500.30. The Nifty 50 index added 31.65 points or 0.14% to 21,982.80. Foreign portfolio investors (FPIs) bought shares worth Rs 3,568.11 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 230.21 crore in the Indian equity market on 29 February, provisional data showed.
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GIFT Nifty: Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 16 points at the opening bell. The National Statistical Office (NSO) is scheduled to release the official third quarter GDP data today. India?s economic growth is likely to moderate in the range of 6 to 6.8% in the third quarter of the current financial year, sharply lower than 7.6% expansion recorded in the previous quarter, as per reports. Global markets: Overseas, Asian stocks are trading mixed Thursday as investors awaited U.S. personal consumption expenditures price index data for clues on the Federal Reserve?s interest rate path. The U.S. personal consumption expenditures price index is due later in the day, while China?s manufacturing purchasing managers? index reading is scheduled to be released Friday. US stocks closed lower on Wednesday as investors awaited the Fed?s preferred inflation report. The US economy grew at a solid clip in the fourth quarter amid strong consumer spending, the government confirmed on Wednesday. Gross domestic product increased at a 3.2% annualised rate last quarter, revised slightly down from the previously reported 3.3% pace, the Commerce Department's Bureau of Economic Analysis said in its second estimate of fourth-quarter GDP growth. Domestic markets: Back home, domestic equity benchmarks tumbled on Wednesday, mirroring negative global cues. The barometer index, the S&P BSE Sensex dropped 790.34 points or 1.08% to 72,304.88. The Nifty 50 index lost 247.20 points or 1.11% to 21,951.15. Foreign portfolio investors (FPIs) sold shares worth Rs 1,879.23 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,827.45 crore in the Indian equity market on 28 February, provisional data showed.
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