GIFT Nifty Suggests Cautious Start for Indian Markets Today

Mumbai, September 25: The Indian stock market and all the included indices are expected to open on a flat-to-positive note today, on September 25. This is indicated by Gift Nifty, which is down marginally by 0.01%, or 2.5 points, and is trading at 25,061, as of 8:30 AM. It opened at 25,058.50 against the previous close of 25,063.50.

Overnight Global Market Signals Mixed

Overnight, the market signals were mixed. US equities fell for the second consecutive session, driven by profit booking by investors. The Dow Jones fell 171 points, while the S&P 500 and Nasdaq also slipped. Federal Reserve Chair Jerome Powell’s remarks that valuations in the US are stretched also added to investor caution. US Treasury yields fell marginally but the dollar index remained steady. On the other hand, Asian markets were muted and traded in a tight range.

Crude oil prices fell slightly after its seven-week high, while gold traded near its record levels.

FIIs Net Sellers While DIIs Net Buyers

Yesterday, on September 25, FIIs were net sellers and sold Indian equities worth ₹2,425 crore. However, the Indian market was supported by DIIs who came out as net buyers and bought Indian equities worth ₹1,211 crore.

Yesterday, both Sensex and Nifty fell, and extended their red streak. Sensex dropped by 386 points to 81,715, while the Nifty fell 112 points to 25,056. Apart from these, broader indices fell, with the BSE midcap index falling nearly 0.9% and smallcap lower by 0.5%.

Flat Opening Expected Today

With the Gift Nifty showing muted performance, along with the flat performance of global markets, the Indian stock market is expected to open and perform flat today. Investors will be watching the global inflation data, and foreign fund inflows for their cues.

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