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Market may open on flat note

Published on Jan 30, 2024 08:42

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 5 points at the opening bell.

The upcoming India`s Interim Budget and the US Federal Reserve`s monetary policy meeting are expected to bring continued volatility to the market throughout the week.

Global markets:

Overseas, Asian stocks are trading mixed during the early trade hours on Tuesday. Hong Kong stocks fell as investors continue to grapple with the fallout from Evergrande�s liquidation order.

US stocks advanced on Monday as market participants looked ahead to this week`s slew of megacap earnings, economic data and the Federal Reserve`s monetary policy meeting.

Domestic markets:

Back home, the domestic stock market had a strong closing on Monday, with the Nifty settling above the 21,700 level. The barometer index, the S&P BSE Sensex jumped 1,240.90 points or 1.76% to 71,941.57. The Nifty 50 index surged 385 points or 1.80% to 21,737.60.

Foreign portfolio investors (FPIs) bought shares worth Rs 110.01 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,221.34 crore in the Indian equity market on 29 January, provisional data showed.

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