Markets Open Flat; Nifty Above 24,100, Sensex Jumps 100 Points
On the institutional front, FIIs were net buyers, purchasing Rs 1,970.17 crore worth of shares. Since the last four trading sessions, FIIs have been on a buying spree, while DIIs net purchased Rs 246.59 crore.Â
Pre-Market Update at 8:00 AM: The Indian stock market is set for a weak start on Tuesday, following negative cues from global markets. Asian indices are trading lower, and US markets saw a steep decline overnight after former President Donald Trump criticised Federal Reserve Chair Jerome Powell, warning of an economic slowdown unless interest rates are cut.
As of 7:45 AM, Gift Nifty was up by just 6 points at 24,156, indicating a flat opening for the Indian market. Despite global uncertainty, foreign institutional investors (FIIs) continue to be net buyers, with cumulative purchases of Rs 16,640 crore over the past four sessions.
On Monday, the domestic equity benchmarks extended their winning streak, with the Sensex gaining 855 points to close at 79,408.50 and Nifty 50 rising 274 points to end at 24,125.55. The Index of Eight Core Industries saw a growth of 3.8 per cent year-on-year in March and 4.4 per cent for the fiscal year 2024-25, reflecting a moderate recovery in key sectors like coal, steel, and electricity.
The Reserve Bank of India (RBI) has eased Liquidity Coverage Ratio (LCR) norms for digitally linked deposits, allowing banks to maintain a reduced buffer of 2.5 per cent. Banks have been given a year to comply, which is expected to improve their LCR positions by nearly 6 percentage points by year-end.
In global markets, US indices experienced significant declines, with the Dow falling 2.48 per cent, the S&P 500 dropping 2.36 per cent, and the Nasdaq losing 2.55 per cent. Asian markets mirrored this weakness, with Japan's Nikkei and South Korea's Kospi both down. Gold prices continued their record-breaking rally, hitting an all-time high of USD 3,443.79 an ounce, while the US dollar remained weak, hovering near a three-year low.
On the institutional front, FIIs were net buyers, purchasing Rs 1,970.17 crore worth of shares. Since the last four trading sessions, FIIs have been on a buying spree, while DIIs net purchased Rs 246.59 crore.
Stocks banned for trading in the F&O segment on April 22 include Angel One, Hindustan Copper, Manappuram Finance, IREDA, and Tata Elxsi.
Disclaimer: The article is for informational purposes only and not investment advice.