GIFT Nifty:
The GIFT Nifty September futures contract is up 10 points, suggesting a positive start for the Nifty 50.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,503.76 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 604.08 crore in the Indian equity market on 27 August 2024, provisional data showed.
FPIs have sold shares worth over Rs 28,598.68 crore in August 2024 (so far). They bought shares worth 5407.83 crore in July 2024.
Global Markets:
Most Asian stocks declined on Wednesday, with technology-heavy indexes retreating ahead of Nvidia’s earnings report. Persistent concerns over China’s trade tensions with Canada also weighed on investor sentiment.
While Wall Street’s major indices reached new highs, the Nasdaq Composite lagged, reflecting cautiousness about Nvidia’s earnings. Anticipation of lower interest rates led to a shift away from technology stocks and toward more economically sensitive sectors. The Dow Jones Industrial Average rose 0.02%, the S&P 500 gained 0.16%, and the Nasdaq Composite climbed 0.17%.
Domestic Market:
The domestic equity benchmarks failed to maintain their upward momentum on Tuesday, despite an intraday surge, and ultimately closed near the flatline. The Nifty 50 index settled slightly above the 25,000 mark. Among the sectoral gainers, media, financial services, and pharmaceutical stocks led the way. Conversely, FMCG and consumer durables shares faced downward pressure. In the barometer index, the S&P BSE Sensex rose 13.65 points or 0.02% to 81,711.76. The Nifty 50 index added 7.15 points or 0.03% to 25,017.75.
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First Published: Aug 28 2024 | 8:26 AM IST