JKB Financial Services Ltd.

As on : 02-Feb-2024

Market Commentary - Pre-Session
02-Feb-2024 08:40

Benchmarks poised for slightly higher opening

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 6 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Friday, mirroring Wall Street?s rebound from the sell-off earlier this week after US Fed Chairman Jerome Powell indicated the U.S. Federal Reserve was unlikely to cut rates in March.

US stocks rebounded on Thursday as investors looked to a spate of high-profile earnings and the Friday's employment report.

Domestic markets:

Back home, the domestic equity indices wrapped up the day little changed on Thursday following Finance Minister Nirmala Sitharaman's presentation of the inline interim budget without major announcements. The barometer index, the S&P BSE Sensex, declined 106.81 points or 0.15% to 71,645.30. The Nifty 50 index lost 28.25 points or 0.13% to 21,697.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,879.58 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 872.49 crore in the Indian equity market on 1 February, provisional data showed.

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