JKB Financial Services Ltd.

As on : 02-Mar-2024

Market Commentary - Pre-Session
02-Mar-2024 08:30

GIFT Nifty hints at firm opening in special trading session

Domestic stock market indices are likely to open higher on Saturday tracking positive global market cues from Wall Street. The National Stock Exchange and Bombay Stock Exchange will hold a special live trading session today, 2 March 2024 in the equity and F&O segments with an intra-day switchover from the Primary site to the Disaster Recovery site. There will be two sessions ' the first from 9:15 am to 10 am and the second from 11:30 am to 12:30 pm.

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 65 points at the opening bell.

Global markets:

U.S. stocks rose on Friday, with the S&P 500 and Nasdaq closing at record highs, as technology stocks rallied on continued enthusiasm for artificial intelligence, with further support from declining Treasury yields.

Domestic markets:

Back home, domestic stock market continued their hot streak, closing at record highs on Friday. Both the Sensex and Nifty indexes scaled new peaks, fueled by a combination of positive factors. In the barometer index, the barometer index, the S&P BSE Sensex zoomed 1,245.05 points or 1.72% to 73,745.35. The Nifty 50 index surged 355.95 points or 1.62% to 22,338.75.

Foreign portfolio investors (FPIs) bought shares worth Rs 128.94 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,814.53 crore in the Indian equity market on 1 March, provisional data showed.

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