GIFT Nifty Indicates Muted Opening for the Indian Stock Market Today

Mumbai, November 18: The Indian stock market and all the included indices are expected to open on a muted note today, on November 18. This opening is indicated by Gift Nifty which is trading lower by 0.12%, or 31 points, at 25.985. Until now the index has traded within a range of 26,015.50 and 25,985.

Sensex and Nifty Ended Higher Yesterday

Yesterday, on November 17, both Sensex and Nifty ended higher. The Sensex jumped by 388.17 points (0.46%) to close at 84,950.95. Nifty 50 increased 103.40 points (0.40%) to close at 26,013.45. The performance was driven by healthy Q2 earnings and strong institutional buying.

FIIs Turned Net Buyers While DIIs Provide Support

Yesterday, on November 17, Foreign Institutional Investors turned net buyers and bought Indian equities worth ₹442.17 crore net. On the other hand, Domestic Institutional Investors bought Indian equities worth ₹1,465.86 crore net.

Global Market Signals

Overnight, US markets ended in the red. The Dow Jones fell by 1.18%, S&P 500 by 0.92%, and the Nasdaq Composite fell by 0.84%. Asian markets have also opened in the red today. The Nikkei Index fell by 1.77%, Hang Seng Index by 1.15%, TOPIX by 1.48%, and JPX Nikkei Index 400 by 1.51%.

Commodities and Currency Highlights

Oil prices fell slightly by 0.41%. The Indian rupee fell 0.002 paise and was trading at 88.62 per US dollar. Gold prices fell by 1.73% at ₹1,26,849 per 10 grams.

Muted Opening Expected Today

As indicated by Gift Nifty, the Indian stock market is expected to open on a muted note today. Negative global signals will also contribute to the muted opening and the market may see negative volatility. Investors will be hoping for healthy Q2 earnings, and other positive intraday factors for their trading cues today.

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