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Stocks may open in positive zone

Published on Dec 27, 2023 08:50

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 17 points at the opening bell.

Global markets:

Overseas, Asian stocks rose broadly on Wednesday, tracking a rally from Wall Street as investors latched on to the year-end optimism driven by expectations that the Federal Reserve could begin cutting rates as early as next March.

The summary of opinions of the Bank of Japan�s December meeting showing that members of the central bank saw monetary policy remaining ultra-loose for the time being.

US stocks continued their positive momentum on Tuesday, with the Dow and broad-based S&P 500 both rising 0.4%, while the tech-rich Nasdaq Composite Index climbed 0.5%.

Domestic markets:

Back home, the domestic equity benchmarks closed with notable increases on Tuesday, marking the third consecutive day of positive momentum. The barometer index, the S&P BSE Sensex, was up 229.84 points or 0.32% to 71,336.80. The Nifty 50 index added 91.95 points or 0.43% to 21,441.35.

Foreign portfolio investors (FPIs) sold shares worth Rs 95.20 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 167.04 crore in the Indian equity market on 26 December, provisional data showed.

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