GIFT Nifty Indicates Flat Opening for the Indian Stock Market Today

Mumbai, November 24: The Indian stock market and all the included indices are expected to open on a flat note today, This is indicated by Gift Nifty, which is trading marginally lower by 0.02%, or 5 points, at 26,185. As of now, the index has traded within a range of 26,198.50 and 26,192.

Sensex and Nifty Closed in the Red

On Friday, both Sensex and Nifty closed in the red, a day after reaching their new 52-week highs. Sensex closed 400.76 points, or 0.47% lower at 85,231.92. On the other hand, Nifty closed 124 points, or 0.47% lower at 26,068.15.

FIIs Turned Net Sellers While DIIs Extend Buying

On Friday, Foreign Institutional Investors turned net sellers and sold Indian equities worth ₹1,766.05 crore net. On the other hand, Domestic Institutional Investors were net buyers and bought Indian equities worth ₹3,161.61 crore net.

Global Market Signals

US markets rose overnight on Friday and ended their day in the green. The Dow Jones jumped by 1.08%, the S&P 500 by 0.98%, and the Nasdaq Composite by 0.88%. However, Asian markets have opened their day in the red today. The Nikkei Index fell by 2.40%, TOPIX by 0.056%, and JPX Nikkei Index 400 by 0.18%.

Commodities and Currency Highlights

Oil prices fell, with Brent Crude falling 0.18%. The Indian rupee also fell 0.14%, or 0.123 paise and was trading at 89.451 per US dollar. Gold prices rose from ₹1,27,310 per 10 grams to ₹1,27,610 per 10 grams.

Flat Opening Expected Today

As indicated by Gift Nifty, the Indian stock market is expected to open on a flat note today. FIIs turning net sellers, with Asian markets opening in the red, are also factors that will contribute to the flat opening today. Investors will be tracking global signals, along with domestic intraday factors such as Q2 earnings, and other corporate actions and announcements for trading cues today.

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