GIFT Nifty Indicates Cautious Start For The Indian Stock Market Today

Mumbai, September 16: The Indian stock market is expected to start today’s trading session on a negative-to-cautious tone, as indicated by GIFT Nifty. As of 8:30 AM, GIFT Nifty was trading marginally lower by 0.01%, or 3.00 points at 25,164. The marginal fall in the index, along with a rise of 2.71% in India VIX, indicates that the stock market and included indices may see negative volatility right from the start of today’s trading session.

Sensex and Nifty Closed in the Red

At the end of yesterday’s trading session, Sensex closed 118.96 points, or 0.15% lower at 81,785.74. On the other hand, Nifty also fell by 44.80 points, or 0.18% to close at 25,069.20.

However, despite the two broader indices falling, gains were seen in Nifty Smallcap and Nifty Midcap, as they closed higher by 0.7%, or 0.4% respectively.

• Top gainers: Jio Financial, UltraTech Cement, Bajaj Finance, Eternal, Adani Ports
• Top laggards: Shriram Finance, Asian Paints, M&M, Cipla, Dr. Reddy’s Lab

FIIs Net Sellers, While DIIs Net Buyers

On September 15, FIIs ended up as net sellers and sold Indian equities worth ₹1,268 crore. On the other hand, DIIs were net buyers and bought Indian equities worth ₹1,933 crore.

Wall Street Extend Gains While Asian Market Mixed

On Monday, Wall Street extended gains, with the Dow Jones rising 0.11%, the S&P 500 up 0.47%, and the Nasdaq jumping by 0.94% to new record highs ahead of the US Federal Reserve’s policy meeting later this week.

Meanwhile, Asian markets opened on a mixed note. Japan’s Nikkei breached the 45,000 mark for the first time, while US futures indicated some caution going ahead. Bond yields also eased, with the 10-year yield falling to 4.03%. Gold prices, which were hovering near the record high yesterday, hit a fresh record high today. Lastly, crude oil prices remained steady after fresh attacks on Russian energy facilities.

Fed’s Two-day Policy

Today, investors will be keenly watching the two-day policy meeting of the Federal Reserve, starting from today. The meeting is expected to give direction to the global stock markets. For the Indian stock market, it remains to be seen how the indices open, and how they tackle volatility throughout the day.

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