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Market may open in negative zone

Published on Mar 27, 2024 08:32

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 25 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Wednesday as investors assessed economic data from China and Australia. China�s combined industrial profit for January and February climbed 10.2% year on year, data showed. Industrial profits fell 2.3% for the whole of 2023. Data from Australia showed consumer price inflation in February rose 3.4% year over year.

U.S. stocks slipped on Tuesday as investors awaited economic data in a holiday-shortened week to gauge the Federal Reserve`s policy path. The Personal Consumption Expenditure data is due to be released on Friday.

Domestic markets:

Back home, domestic indices shed some points on Tuesday, ending their three-day rally. The barometer index, the S&P BSE Sensex slipped 361.64 points or 0.50% to 72,470.30. The Nifty 50 index lost 92.05 points or 0.42% to 22,004.70. The 50-unit index rose 1.28% in the previous three sessions.

Foreign portfolio investors (FPIs) bought shares worth Rs 10.13 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 5,024.36 crore in the Indian equity market on 26 March, provisional data showed.

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