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Market geared for upbeat start

Published on Mar 20, 2024 08:38

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 Wednesday after US equities rose overnight and bonds also rallied as traders brace for the latest monetary policy decision from the Federal Reserve. Japanese markets are closed for a holiday.

Wall Street`s three major indexes closed higher on Tuesday after shares in hotshot chipmaker Nvidia shook off early losses and investors looked ahead to the Federal Reserve`s policy meeting conclusion on Wednesday for clues on interest rate policy.

Domestic markets:

Back home, domestic shares plunged on Tuesday, erasing gains from the previous session. The barometer index, the S&P BSE Sensex tumbled 736.37 points or 1.01% to 72,012.05. The Nifty 50 index declined 238.25 points or 1.08% to 21,817.45.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,421.48 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 7,449.48 crore in the Indian equity market on 19 March, provisional data showed.

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