Stock Market Today: GIFT Nifty futures, trading around 100 points behind Nifty futures' last close, indicated a lower open for Indian markets, amid weak global sentiment.
In Delhi, the price of ten grams of 22-carat gold stood at Rs 71,140 and in Bengaluru, and Chennai, ten grams of 22-carat gold was trading at Rs 70,990
At 6:38 AM, GIFT Nifty Futures were trading 114 points lower at 24,871, indicating a potential gap-down opening for Indian markets.
Stocks to Watch: Morepen Laboratories plans to separate its medical devices business.
The Nifty Finance Index has experienced a sharp correction over the past seven days, bringing it close to critical support levels at 23,000 and 22,500
FPIs' equity holdings currently account for 16.4 per cent of India's total market capitalisation, down from 20.1 per cent in December 2020
FPIs sold shares worth nearly Rs 8,300 crore, extending their month-to-date selling to almost Rs 40,000 crore
Low costs, higher margins may drive sequential pickup in profit growth
Titan beat growth expectations across most segments and this led to likely earnings upgrades for FY25 to the tune of 4-5%
The fund will invest only in companies listed in India for now but has the mandate to invest in overseas stocks