GIFT Nifty:
The GIFT Nifty September futures contract is down 9.50 points, suggesting a negative start for the Nifty 50.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,176.55 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,757.02 crore in the Indian equity market on 9 September 2024, provisional data showed.
FPIs have bought shares worth over Rs 3607.08 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.
Global Markets:
Most Asian stock markets climbed on Tuesday, mirroring a previous night’s surge in Wall Street as investors eagerly awaited upcoming inflation data for hints on potential interest rate cuts.
While Chinese markets participated in the regional uptrend, they underperformed due to several factors. The recent passage of a U.S. bill imposing fresh restrictions on Chinese biotechnology companies dampened sentiment. Additionally, a series of mixed economic indicators released over the past week weighed on Chinese stocks.
The primary focus this week is on the key US consumer price index inflation data, which is expected to influence the outlook for interest rates.
U.S. stocks rallied on Monday as investors bought the dip, anticipating a potential Federal Reserve rate cut later this month to support the slowing economy. Technology stocks, which were among the hardest hit last week, led the rebound. The Dow Jones Industrial Average surged 1.2%, the S&P 500 gained 1.16%, and the Nasdaq Composite jumped 1.16%.
Domestic Market:
Domestic equity indices ended the trading day with modest gains, reflecting a cautious optimism in the market. The Nifty 50 index closed above the 24,900 level, despite hitting a low of 24,753.15 earlier in the session. FMCG and private banking stocks were the standout performers, driving the market’s upward momentum. However, energy and IT stocks faced selling pressure, limiting the overall gains.
In the barometer index, the S&P BSE Sensex rose 375.61 points or 0.46% to 81,559.54. The Nifty 50 index added 84.25 points or 0.34% to 24,936.40.
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First Published: Sep 10 2024 | 8:30 AM IST
