GIFT Nifty: Indicators of a potential Nifty 50 index rise of 15.50 points at the opening bell include trading of Nifty 50 index futures on the GIFT Nifty
Global Markets
The anticipation of US consumer inflation eased, which supported the case for a rate decrease by the Federal Reserve this year, and most Asian markets gained.
On Friday, US stocks rose again, helped by reports that consumers’ expectations for inflation are increasing. The Nasdaq closed at a record high after rising for a fifth straight week. The S&P 500 saw a small increase, while the Dow Jones Industrial Average increased.
According to research from the University of Michigan, consumers’ expectations for price increases over the next year have shifted from a 3.5% annual rate earlier in the month to a 3.3% yearly rate. This implies that the Federal Reserve may lower interest rates later this year as a result of the potential lessening of inflationary pressures.
Domestic markets
After a turbulent session, the domestic equity indices finished the day flat. During the day, the Nifty hit a record high of 23,026.40, but it lost all of its gains and ended the day nearly unchanged. While the FMCG and real estate companies saw profit booking, the oil and gas and finance sectors performed nicely. The flat performance of the benchmark indices was reflected in the wider markets as well. All in all, a calm day following yesterday’s bold advance. The S&P BSE Sensex was down 7.65 points, or 0.01%, to 75,410.39 in the barometer index. To reach 22,957.10, the Nifty 50 index dropped 10.55 points, or 0.05%.
On May 22, 2024, provisional data from the Indian equity market revealed that foreign portfolio investors (FPIs) had sold shares worth Rs 944.83 crore, while domestic institutional investors (DIIs) had made net purchases of shares worth Rs 2,320.32 crore.
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The total value of shares sold by FPIs in May is more than Rs 34459.88 crore. As of April 2024, they had sold off shares for 35692 crore
Disclaimer: Stockeasynow provides stock market news for informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.
