JKB Financial Services Ltd.

As on : 12-Jan-2024

Market Commentary - Pre-Session
12-Jan-2024 08:21

Stocks poised for slightly higher opening

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 12 points at the opening bell.

Global markets:

Overseas, Asian stocks are largely lower Friday, but Japan continued its record-breaking rally, while investors awaited a slew of economic data out of China, including inflation and trade numbers for December.

US stocks ended close to the flat line on Thursday even as U.S. inflation for December came in higher than expected. The consumer price index increased by 0.3% last month from November. Year over year, CPI was up 3.4%.

Domestic markets:

Back home, the domestic equity indices closed with decent gains on Thursday, marking the third consecutive day of ascent, with the Nifty finishing near the 21,650 mark. The barometer index, the S&P BSE Sensex advanced 63.47 points or 0.09% to 71,721.18. The Nifty 50 index added 28.50 points or 0.13% to 21,647.20.

Foreign portfolio investors (FPIs) sold shares worth Rs 865 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,607.08 crore in the Indian equity market on 11 January, provisional data showed.

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