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GIFT Nifty hints at firm opening

Published on Apr 04, 2024 08:38

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 47 points at the opening bell.

The RBI Monetary Policy Committee (MPC) kicked off its 3-day meeting deliberating interest rates and analysing the state of the economy on April 3 and will end on April 5. While the RBI is widely expected to keep rates on hold, any signals on inflation and economic growth will be closely watched, as per reports.

Global markets:

Overseas, Asian stocks are trading higher on Thursday taking some positive cues from a mildly stronger overnight close on Wall Street. Markets in Hong Kong, mainland China and Taiwan are closed for a public holiday.

U.S. stocks closed mixed on Wednesday as investors digest comments from U.S. Federal Reserve Chairman Jerome Powell. Powell said it would take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain.

Domestic markets:

Back home, domestic equity benchmarks ended almost flat on Wednesday, despite some global jitters. The barometer index, the S&P BSE Sensex declined 27.09 points or 0.04% to 73,876.82. The Nifty 50 index added 18.65 points or 0.08% to 22,434.65.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,213.56 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,102.41 crore in the Indian equity market on 3 April, provisional data showed.

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