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Stocks may open on flat note

Published on Feb 15, 2024 08:44

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 6 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher Thursday after Wall Street resumed a rally as robust earnings helped overcome worries about persistent inflation.

GDP numbers from Japan showed that Asia�s second-largest economy had entered a technical recession. Provisional gross domestic product contracted 0.4% in the fourth quarter compared with a year ago, after a revised 3.3% slump in the July-September period.

US stocks rose on Wednesday as the robust earnings of big technology firms helped ease worries about persistent price pressure. Shares of ride-hailing platforms Lyft and Uber rallied, while Nvidia displaced Alphabet as the US stock market`s third most valuable company.

US producer prices fell more than initially thought in December, revised government data showed on Wednesday. The producer price index for final demand dropped 0.2% in December instead of dipping 0.1% as previously reported, annual revisions of the PPI data published by the Labor Department`s Bureau of Labor Statistics (BLS) showed.

Domestic markets:

Back home, the domestic stock market navigated through turbulent waters on February 14, overcoming initial selloff triggered by the hotter-than-expected US inflation figures. The barometer index, the S&P BSE Sensex gained 267.64 points or 0.37% to 71,822.83. The Nifty 50 index added 96.80 points or 0.45% to 21,840.05.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,929.60 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,897.98 crore in the Indian equity market on 14 February, provisional data showed.

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