GIFT Nifty Signals Muted Start Amid Global Weakness

Mumbai, November 7: The Indian stock market and all the included indices are expected to open on a cautious-to-negative note today. This starting is indicated by Gift Nifty, which was trading lower by 0.15%, or 38.50 points, at 25,501. Until now, the index has traded within a range of 25,547.50 and 25,483.

Sensex and Nifty Ended Lower Yesterday

Yesterday, on November 6, both Sensex and Nifty ended the trading day in the red. Sensex closed 0.18%, or 148.14 points lower at 83,311.01. On the other hand, Nifty closed 0.34%, or 87.95 points lower at 25,509.70.

FIIs Net Sellers While DIIs Net Buyers

Yesterday, on November 6, Foreign Institutional Investors (FIIs) ended up being net sellers. They sold Indian equities worth ₹3,605.66 crore net. However, the selling from FIIs was offset by buying from Domestic Institutional Investors (DIIs). They bought Indian equities worth ₹4,818.78 crore net.

Global Market Overview

Overnight, US markets ended lower as investors were cautious about the valuations of tech, AI, and semiconductor companies. The Dow Jones fell 0.84%, the S&P 500 declined 1.12%, and the Nasdaq Composite fell 1.9%. Asian markets have also opened lower today. The Nikkei fell 1.88%, the Topix fell 1.47%, and the Kospi slipped 1.32%, while Hang Seng traded higher by 0.05%.

Commodity and Currency Highlights

Crude oil prices rose but remain on track for a second consecutive weekly decline. Brent crude gained 0.22%, while WTI increased 0.37%. Gold prices held steady as investors turned to the metal amid global uncertainty and high company valuations.

Cautious-to-negative Opening Expected

As indicated by Gift Nifty, the Indian stock market is expected to open on a cautious-to–negative note today. The fall in US and Asian markets is also a contributor to the cautious-to-negative opening expectations. Investors will be keenly watching Q2 earnings and other intraday factors for trading cues.

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