JKB Financial Services Ltd.

As on : 28-Sep-2023

Market Commentary - Pre-Session
28-Sep-2023 08:33

Market may open on flat note; F&O expiry may trigger volatility

GIFT Nifty:

Trading could be volatile today as traders roll over positions in the F&O segment from the near month September series to October series. The September 2023 F&O contracts will expire today, 28 September 2023.

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 after notching some gains on Wednesday as an uptick in Treasury yields and oil prices dented investor sentiment on Wall Street. South Korea's markets are closed for a public holiday.

US stocks finished the day mixed on Wednesday. Investors will watch for economic data on jobless claims, home sales and the GDP on Thursday, before turning attention to the latest personal consumption expenditures price index reading due Friday.

Domestic markets:

Back home, the equity markets experienced modest gains on Wednesday, with the Nifty closing above the 19,700 level. The barometer index, the S&P BSE Sensex advanced 173.22 points or 0.26% to 66,118.69. The Nifty 50 index added 51.75 points or 0.26% to 19,716.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 354.35 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 386.28 crore in the Indian equity market on 27 September, provisional data showed.

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