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Market may open higher

Published on Jan 20, 2024 08:38

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 24 points at the opening bell.

Stock exchanges NSE and BSE on Friday said there will be normal trading session on Saturday, 20 January 2024 from the primary site in equity and equity derivatives segments as per regular market timings. Besides, it will be a trading holiday on Monday, 22 January 2024, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya.

Global markets:

Overseas, US stocks ended higher on Friday. The S&P 500 posted a record high close fuelled by a rally in chipmakers and other heavyweight technology stocks on optimism around artificial intelligence.

Domestic markets:

Back home, the domestic benchmark indices rebounded on Friday from a three-day losing streak, supported by positive global cues. The barometer index, the S&P BSE Sensex rose 496.37 points or 0.70% to 71,683.23. The Nifty 50 index added 160.15 points or 0.75% to 21,622.40.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,689.68 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,638.46 crore in the Indian equity market on 19 January, provisional data showed.

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