GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a flat opening on Tuesday. Here is all you need to know before the market opens.
GIFT Nifty was down 5.50 points, or 0.02%, at 24,338 indicating a negative start for the domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 closed 20.50 points or 0.08% lower to settle at 24,347, while the BSE Sensex fell 57 points or 0.07% to finish at 79,649.
Key things to know before share market opens on August 13, 2024
Wall Street
US markets closed on a mixed note on Monday as investors await key inflation data from the US, to recognise the economy’s health. The broader market index, the S&P 500, closed flat at 5,344.39. Similarly, the tech-heavy Nasdaq Composite advanced 0.21% to settle at 16,780.61. The Dow Jones Industrial Average pulled back 140 points, or 0.36%, to end at 39,357.01.
US Dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading up 0.07% at 103.15 on Tuesday morning.
Crude Oil
WTI crude prices were trading at $79.68 down by 0.48%, while Brent crude prices were trading at $81.90 down by 0.47%, on Tuesday morning.
Asian Markets
On Tuesday morning, Asian markets were trading in mixed territory. Japan’s Nikkei 225 was up 2.51% to 35,898.51 after they returned from a holiday. The Korean index Kospi was down 0.15% at 2,614. However, the Asia Dow was trading 1.68% higher at 3,435.64. The benchmark Chinese index Shanghai Composite was flat at 2,858.
FII, DII Data
Foreign institutional investors (FII) sold shares net worth Rs 4,680.51 crore. Meanwhile, domestic institutional investors (DII) bought shares net worth Rs 4,477.73 crore on August 09, 2024, according to the provisional data available on the NSE.
F&O Ban
Sun TV Network, Aditya Birla Capital, Aditya Birla Fashion and Retail, Bandhan Bank, Biocon, Birlasoft, Granules India, Hindustan Copper, India Cements, IndiaMART InterMESH, LIC Housing Finance, Manappuram Finance, Punjab National Bank, RBL Bank, and SAIL to remain in F&O Ban today.
Expert’s View
On Monday, Nifty opened gap down and witnessed a volatile day. “On the daily charts, we can observe that the Nifty has been in a counter-trend pullback after a decline of 1200 points. On the upside, the retracement can occur until 24520 – 24650 where the fall’s 50% and 61.82% Fibonacci retracement levels are placed. The immediate support on the downside is placed at 24210,” said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.
Bank Nifty Outlook
On Monday, the Bank Nifty also witnessed a pullback after a weak opening and was able to close the day in the green ~93 points. The Bank Nifty is also in a pullback mode which is likely to extend towards 51000 – 51300. Key support is placed at 50200,” said Gedia.
