JKB Financial Services Ltd.

As on : 18-Dec-2023

Market Commentary - Pre-Session
18-Dec-2023 08:37

Indices may open in positive zone

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 32 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Monday ahead of Japan's monetary policy decision on Tuesday. The BOJ is likely to maintain its benchmark interest rate at -0.1%, as per reports.

US stocks ended mixed on Friday. Comments on Friday by Fed Bank of New York President John Williams that it was too soon to be talking about rate cuts, however, dampened some of the day's optimism.

Domestic markets:

Back home, the key equity benchmarks ended with major gains on Friday, rising for the third straight day. The Sensex and the Nifty, both, attained record closing high levels. The barometer index, the S&P BSE Sensex surged 969.55 points or 1.37% to 71,483.75. The Nifty 50 index advanced 273.95 points or 1.29% to 21,456.65.

Foreign portfolio investors (FPIs) bought shares worth Rs 9,239.42 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,077.43 crore in the Indian equity market on 15 December, provisional data showed.

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