Benchmarks may start on positive note

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 41 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Friday, tracking an overnight rise in US stocks. Japan�s headline inflation rate fell to 2.6% in December, down from 2.8% in November and hitting its lowest level since June 2022. Japan�s core inflation rate � which strips out prices of fresh food � also fell to 2.3% from November�s figure of 2.5%.

US stocks ended with strong gains on Thursday, as AI optimism drove gains in Nvidia and other chipmakers. Atlanta Fed President Raphael Bostic said he would be open to reducing U.S. interest rates sooner than he had anticipated if inflation fell faster than he expected.

Domestic markets:

Back home, the equity market endured a downward trend for the third consecutive day on Thursday, influenced by selling pressure on banks and IT stocks. The barometer index, the S&P BSE Sensex fell 313.90 points or 0.44% to 71,186.86. The Nifty 50 index lost 109.70 points or 0.51% to 21,462.25.

Foreign portfolio investors (FPIs) sold shares worth Rs 9,901.56 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 5,977.12 crore in the Indian equity market on 18 January, provisional data showed.

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