JKB Financial Services Ltd.

As on : 27-Sep-2023

Market Commentary - Pre-Session
27-Sep-2023 08:25

Stocks may open on flat to positive note

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 8.50 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed ahead of China's industrial data and Australia's August inflation figures due on Wednesday.

Japan's central bank board was split over when should the Bank of Japan should start to raise interest rates, according to minutes from its monetary policy meeting in July.

US stocks saw a sell off on Tuesday after the latest home sales and consumer confidence reports stoked concern over the state of the U.S. economy,

August new home sales were down 8.7% from July, according to the Commerce Department. The Conference Board's consumer confidence index fell to 103 in September from 108.7 in August.

Domestic markets:

Back home, the domestic equity benchmarks ended the day with marginal losses. The barometer index, the S&P BSE Sensex, fell 78.22 points or 0.12% to 65,945.47. The Nifty 50 index lost 9.85 points or 0.05% to 19,664.70.

Foreign portfolio investors (FPIs) sold shares worth Rs 693.47 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 714.75 crore in the Indian equity market on 26 September, provisional data showed.

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