JKB Financial Services Ltd.

As on : 30-Aug-2023

Market Commentary - Pre-Session
30-Aug-2023 08:15

Stocks posied for flat opening

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 5 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mostly higher on Wednesday following overnight rally on Wall Street led by technology stocks.

US stocks ended higher on Tuesday after weak monthly job openings data raised expectations of a pause in interest rate hikes by the US Federal Reserve.

US job openings dropped for a third straight month in July. Job openings, a measure of labor demand, declined 338,000 to 8.827 million on the last day of July, the lowest level since March 2021, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday.

Domestic markets:

Back home, domestic equity markets recorded minor gains on Tuesday, with the Nifty index closing above the 19,300 level. The barometer index, the S&P BSE Sensex rose 79.22 points or 0.12% to 65,075.82. The Nifty 50 index added 36.60 points or 0.19% to 19,342.65.

Foreign portfolio investors (FPIs) bought shares worth Rs 61.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 305.09 crore in the Indian equity market on 29 August, provisional data showed.

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