JKB Financial Services Ltd.

As on : 11-Aug-2023

Market Commentary - Pre-Session
11-Aug-2023 08:32

Flat opening on the cards

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 8 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Friday after inflation in the U.S. came in lower than expected, raising hopes markets could see a ?soft landing? in the inflation fight.

US stocks ended higher on Thursday on the softer inflation print. The July US consumer price index rose 3.2% from a year ago and 0.2% month-on-month, new data from the Bureau of Labor Statistics showed on Thursday. Core CPI, which excludes volatile food and energy prices, also gained 0.2% month-on-month for a 4.7% year-on-year increase.

Domestic markets:

Back home, the benchmark indices ended with modest losses on Thursday. The outcome of the Reserve Bank of India's (RBI) policy meeting dented investor sentiment. The barometer index, the S&P BSE Sensex slipped 307.63 points or 0.47% to 65,688.18. The Nifty 50 index lost 89.45 points or 0.46% to 19,543.10.

Foreign portfolio investors (FPIs) bought shares worth Rs 331.22 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 703.72 crore in the Indian equity market on 10 August, provisional data showed.

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