GIFT Nifty indicates firm opening
Published on Sep 22, 2023 08:12
Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 45 points at the opening bell.
Overseas, Asian stocks are trading lower ahead of the Bank of Japan`s rate decision. The BOJ is likely to hold its benchmark policy rate at -0.1%, as per reports.
Japan`s headline inflation rate came in at 3.2% for August, slightly slower than the 3.3% seen in July and the 16th straight month that inflation has went above the Bank of Japan`s 2% target. The core inflation rate, which strips out prices of fresh food stood at 3.1%, unchanged from the July.
US stocks notched a third straight day of losses on Thursday as Treasury yields popped to multiyear highs and investors grew worried that lawmakers would be unable to prevent a shutdown.
The Bank of England paused its hiking cycle, keeping the policy rate at 5.25%, after cooler-than-expected inflation data.
Back home, the domestic equity benchmarks closed lower for the third consecutive day on Thursday. The barometer index, the S&P BSE Sensex slipped 570.60 points or 0.85% to 66,230.24. The Nifty 50 index lost 159.05 points or 0.80% to 19,742.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,007.36 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,158.14 crore in the Indian equity market on 21 September, provisional data showed.
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