Business Standard

Shares may see a flat opening

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GIFT Nifty:
Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 7.50 points at the opening bell.
Global markets:
Asian stocks were cautious on Tuesday, snapping a seven-day winning streak, as investors weighed US central bank policy and the health of the global economy. Additionally, developments in the Middle East add a layer of uncertainty, potentially triggering a flight to safer assets.
Meanwhile, US stocks edged higher on Monday, with the Nasdaq Composite reaching a record close, driven by Nvidia (NVDA) shares ahead of their earnings report this week. The S&P 500 rose slightly by 0.1%, while the Dow Jones Industrial Average dipped below 40,000, down 0.5% after Friday's record high.
Domestic Markets:
Domestic stocks capped off the special trading session with small gains, extending their winning streak to three days. The Nifty 50 settled near its opening price after an initial jump, but broader market ended firm. Realty and pharma stocks led the charge, while financials took a breather. The overall sentiment was buoyed by the Dow Jones' record close. A welcome sign is foreign investors returning to the buying side, easing some pressure on the market. The barometer index, the S&P BSE Sensex advanced 88.91 points or 0.12% to 74,005.94. The Nifty 50 index added 40.65 points or 0.18% to 22,506.75.
Foreign portfolio investors (FPIs) sold shares worth Rs 92.95 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 152.87 crore in the Indian equity market on 18 May 2024, provisional data showed.
FPIs have sold shares worth over Rs 35625.42 crore in May so far. They offloaded shares worth 35692 crore in April 2024.
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First Published: May 21 2024 | 8:17 AM IST

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