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%, Australia’s ASX 200 gained 0.8%, and South Korea’s Kospi added 0.6%, 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% to 5,782.76, the Dow Jones rising 1.02% to 42,221.88, and Nasdaq gaining 1.43% to 18,439.17.
on November 5, India's NSE Nifty 50 rose 0.91% to 24,213.30, and the Sensex climbed 0.88% 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% 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.