JKB Financial Services Ltd.

As on : 23-Nov-2023

Market Commentary - Pre-Session
23-Nov-2023 08:39

Stocks may witness tepid opening

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 7 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed after Wall Street went into the Thanksgiving holiday with a broad based rally. Japan?s markets are closed due to a public holiday.

US stocks closed higher on Wednesday after yields briefly fell to their lowest level in two months. Trading was muted ahead of the Thanksgiving holiday on Thursday. U.S. markets will be open for half a day on Friday.

US crude prices fell about 5% Wednesday after the Organization of Petroleum Exporting Countries delayed a pivotal meeting on production cuts that was scheduled for the weekend. OPEC said in a statement that the meeting of energy ministers is delayed until next Thursday.

Domestic markets:

Back home, the domestic stock market closed higher for the second straight session. The barometer index, the S&P BSE Sensex gained 92.47 points or 0.14% to 66,023.24. The Nifty 50 index added 28.45 points or 0.14% to 19,811.85.

Foreign portfolio investors (FPIs) sold shares worth Rs 306.56 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 721.24 crore in the Indian equity market on 22 November, provisional data showed.

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