GIFT Nifty Signals Flat Opening Amid Mixed Global Cues

Thursday, September 11: The Indian stock market and the included indices are expected to open on a flat-to-cautious tone today, as indicated by Gift Nifty. As of 8:40 AM, Gift Nifty was trading marginally higher by 0.08%, or 21 points, at 25,094.00. The marginal uptick indicates that the market is likely to see a flat opening.

US Market Ended Mixed While Gold Nears Record Levels

US markets ended the day mixed overnight. The S&P 500 rose by 0.30% and the Nasdaq ended 0.03% higher, with the dollar index holding flat. Both the indices settled at record levels. However, Dow Jones fell by 0.48%. The rally was led by Oracle, which jumped by 36%, its biggest one-day gain since 1992.

Asian shares also traded flat, with a mixed performance. Japan’s Nikkei and South Korea’s Kospi gained, while Hang Seng and Shanghai Composite fell. US bond yields also saw mixed performance, as 10-year US Treasury yields edged higher, while the 2-year yields fell.

Gold hovered near its record levels, as the uptick was supported by interest rate cut expectations by the Federal Reserve after softer production price data. Crude oil price per barrel also fell by recent gains.

Sensex and Nifty Closed Higher

On September 10, Indian indices closed higher. Sensex closed 323.83 points higher at 81,425.15. Nifty gained 104.5 points to 24,973.10, briefly crossing the 25,000 mark intraday. The indices were supported by gains in IT, financials, and realty stocks.

FIIs Net Sellers While DIIs Net Buyers

On September 10, FIIs sold Indian equities worth ₹115 crore, while DIIs were net buyers and bought Indian equities worth ₹5,004 crore.

These indicators, along with Gift Nifty are signalling a flat-to-cautious opening for the stock market today. Investors and traders will watch the US inflation data and the Fed’s upcoming rate decision.

Disclaimer:  At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations