GIFT Nifty Suggests Steady Start for Indian Markets Today

Mumbai, November 10: The Indian stock market and all the included indices are expected to open on a steady-to-positive note today, on November 10. This opening is indicated by Gift Nifty, which is trading higher by 0.43%, or 109.50 points, and is trading at 25,648.50, as of 8:30 AM. Until now, the index has traded within a range of 25,657.50 and 25,526.

Sensex and Nifty Closed Lower on Friday

On Friday, November 7, Sensex and Nifty ended in the red. BSE Sensex closed at 83,216.28, down 94.73 points (0.11%). The NSE Nifty 50 fell 17.40 points (0.07%) to close at 25,492.30. Although the session saw high volatility, some support was seen in stocks belonging to metal and banking companies.

FIIs Turned Net Buyers While DIIs Provided Support

On Friday, Foreign Institutional Investors (FIIs) turned net buyers after six consecutive sessions of being net sellers. They bought Indian equities worth ₹4,581 crore net. On the other hand, Domestic Institutional Investors (DIIs) provided support by buying Indian equities worth ₹6,674.77 crore net.

Global Market Highlights

Today, Asian Markets have opened in the green. The Kospi index rose over 2%, while Nikkei, Hang Seng, and Taiwan indices are also trading in the green. US markets also ended higher, with the S&P 500 and Dow Jones rising.

Meanwhile, U.S. bond yields increased to 4.12% on the 10-year Treasury. The dollar index also rose to 99.63.

On the commodities front, Crude oil and gold prices increased as investors became hopeful of a recovery in demand in the US.

Steady Opening Expected Today

With the Gift Nifty trading higher, and strong global signals, the Indian stock market is expected to open on a steady-to-positive note. Both Sensex and Nifty are expected to provide gains for investors in the early morning session. Investors will be watching Q2 earnings and global signals for intraday trading cues today.

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