Market may open on firm note

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 92 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Monday as market participants looked forward to the rate decision by the Federal Reserve, scheduled for release on Wednesday.

US stocks saw a mixed finish on Friday as drops for technology stocks dragged on the market.

Domestic markets:

Back home, the domestic equity benchmarks ended with modest losses on Thursday. The sentiment was impacted by selling pressure from foreign institutional investors (FIIs) and fading hopes of US rate cuts. The barometer index, the S&P BSE Sensex fell 359.64 points or 0.51% to 70,700.67. The Nifty 50 index lost 101.35 points or 0.47% to 21,352.60. The domestic stock market was closed on Friday, 26 January 2024, on account of Republic Day.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,144.06 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,474.89 crore in the Indian equity market on 25 January, provisional data showed.

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