JKB Financial Services Ltd.

As on : 06-Sep-2023

Market Commentary - Pre-Session
06-Sep-2023 08:28

Market may open with small losses

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 15 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed after Saudi Arabia and Russia extended voluntary oil production cuts to the end of the year. Saudi Arabia will extend its cut of 1 million barrels per day until the end of December, while Russia will reduce its oil exports by 300,000 barrels per day.

Australia's gross domestic product expanded 2.1% in the second quarter from a year ago, lower than the 2.3% year-on-year growth recorded in the first quarter.

US stocks ended lower on Tuesday as the rise in crude oil prices weighed on stocks.

Domestic markets:

Back home, domestic shares continued to rise for the third consecutive session. The S&P BSE Sensex advanced 152.12 points or 0.23% to 65,780.26. The Nifty 50 index added 46.10 points or 0.24% to 19,574.90.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,725.11 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,077.86 crore in the Indian equity market on 5 September, provisional data showed.

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