JKB Financial Services Ltd.

As on : 03-Nov-2023

Market Commentary - Pre-Session
03-Nov-2023 08:17

Indices may open on flat note

GIFT Nifty:

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

Global markets:

Overseas, Asian stocks are trading higher on Friday, with investors awaiting a fresh round of data for more clues on the health of services activity through the region. Services purchasing managers? index data from major economies including China and India are set to be released throughout the day. Japan markets were shut for a public holiday.

US stocks rose on Thursday as Treasury yields fell, with investors betting the Federal Reserve could be done raising rates for 2023.

Domestic markets:

Back home, the domestic stock market made a strong recovery on Wednesday, effectively wiping out the losses incurred in the previous two sessions. The benchmark index, S&P BSE Sensex, surged by 489.57 points or 0.77% to reach 64,080.90. Meanwhile, the Nifty 50 index increased by 144.10 points or 0.76%, closing at 19,133.25.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,261.19 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,380.15 crore in the Indian equity market on 2 November, provisional data showed.

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