GIFT Nifty Indicates Steady Opening for the Indian Stock Market Today

Mumbai, November 13: The Indian stock market and all the included indices are expected to open on a steady note today. This opening is indicated by Gift Nifty which is trading marginally higher by 0.07%, or 17.50 points, at 25,957.50. Until now the index has traded within a range of 25,960 and 25,930.

Sensex and Nifty Ended Higher Yesterday

Yesterday, on November 12, both Sensex and Nifty ended higher at the market close. The Sensex jumped 595.19 points (0.71%) to close at 84,466.51, while the Nifty 50 gained 180.85 points (0.70%) to close at 25,875.80. The gains in both Sensex and Nifty were driven by high demand in IT and FMCG stocks.

FIIs Turned Net Sellers While DIIs Net Buyers

Yesterday, on November 12, Foreign Institutional Investors turned net sellers and sold Indian equities worth ₹1,750.03 crore net. On the other hand, Domestic Institutional Investors bought Indian equities worth 5,127.12 crore net.

Global Market Signals

Overnight, US markets were mixed. The Dow Jones ended higher by 0.68%, S&P 500 by 0.06%, while the Nasdaq Composite fell by 0.26%. Asian markets have opened flat today, with the Nikkei Index up by 0.20%, while the Hang Seng Index is trading lower by 0.34%.

Commodities and Currency Highlights

Brent Crude Oil prices fell slightly and were trading lower by 0.16%. The Indian rupee increased by 0.03 paise and was trading at 88.59 per US dollar. Gold prices continued to rise for the fifth straight session, boosted by a weaker US dollar.

Steady Opening Expected Today

As indicated by Gift Nifty, the Indian stock market is expected to open on a steady note today. However, mixed global signals and uncertainty around the India-US trade agreement may negatively affect the market. Investors will track Q2 earnings, global signals, and other intraday factors for trading cues today.

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