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Stocks may open near flat line

Published on Dec 29, 2023 08:47

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 7 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on the last trading day of 2023, with investors assessing prospects of electric-vehicle companies after China�s Xiaomi unveiled its first EV. Chinese consumer electronics company Xiaomi on Thursday detailed plans to enter China�s oversaturated electric-vehicle market.

US stocks finished marginally higher Thursday, closing in on a new all-time high in the penultimate trading day of what�s been a strong year for stocks.

Domestic markets:

Back home, the domestic stock market saw significant gains on Thursday with both NSE Nifty and BSE Sensex hitting new all-time highs. The barometer index, the S&P BSE Sensex, was up 371.95 points or 0.52% to 72,410.38. The Nifty 50 index advanced 123.95 points or 0.57% to 21,778.70. In five trading sessions, the Sensex rose 2.7% while the Nifty 50 climbed 2.97%.

Foreign portfolio investors (FPIs) bought shares worth Rs 4,358.99 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 136.64 crore in the Indian equity market on 28 December, provisional data showed.

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