Indian Markets Set for Volatile Open Amid Global Rally and U.S. Election Jitters
Nifty and Sensex set for a dynamic open as global markets gain; Investors on edge over U.S. election outcome and sustained FPI outflows
Pre-Market at 8:15: Asian markets mostly gained on Wednesday, tracking Wall Street's rally amid U.S. election voting. Japan's Nikkei rose 1.3 per cent, Australia’s ASX 200 gained 0.8 per cent, and South Korea’s Kospi added 0.6 per cent, while China’s CSI 300 traded flat. Hong Kong’s Hang Seng opened 1% lower.
In the U.S., major indices closed higher on Tuesday, with the S&P 500 up 1.23 per cent to 5,782.76, the Dow Jones rising 1.02 per cent to 42,221.88, and Nasdaq gaining 1.43 per cent to 18,439.17.
On November 5, India's NSE Nifty 50 rose 0.91 per cent to 24,213.30, and the Sensex climbed 0.88 per cent to 79,476.63, marking their best session since September, supported by banking stocks in late trade.
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Foreign portfolio investors were net sellers in Indian equities for the 27th consecutive session, offloading Rs 2,569.4 crore. Domestic institutional investors bought stocks worth around Rs 3,031 crore.
GIFT Nifty futures slipped 0.3 per cent to 24,233.00 early Wednesday. The Indian rupee closed flat against the U.S. dollar at 84.109, while oil prices softened as election polls closed in the U.S.