Pre Session

GIFT Nifty:

Early signs from GIFT Nifty futures suggest a potential 33-point drop for the Nifty index at the opening.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,175.86 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 655.76 crore in the Indian equity market on 17 June 2024, provisional data showed.

FPIs have sold shares worth over Rs 11687.59 crore in June 2024 (so far). They offloaded shares worth 42214.28 crore in May 2024.

Global Markets:

Asian stocks rose on Tuesday, following gains on Wall Street the previous day. This positive sentiment was buoyed by easing concerns about political instability in Europe. Investors also awaited comments from several Federal Reserve officials scheduled to speak later.

The primary focus in Asian markets remained the Reserve Bank of Australia's (RBA) policy decision. While the RBA is expected to maintain current interest rates, markets are keen on any hints regarding a potential future rate cut cycle in Australia.

U.S. stocks surged to fresh records on Monday, fueled by continued gains in technology companies. The S&P 500 climbed 0.8%, surpassing its all-time high from Thursday. The Dow Jones Industrial Average also rose 0.5%, while the Nasdaq Composite extended its own record with a 1% gain.

The U.S. stock market will be closed tomorrow, Wednesday, June 19th, for Juneteenth.

Domestic Markets:

Domestic markets notched solid gains on Friday, fueled by optimism surrounding the upcoming budget in July. The Nifty 50 plunged to 23,334.25 at the open but staged a dramatic comeback, reaching a record high of 23,490.40 by the closing bell. Auto and consumer durables stocks led the charge, while IT stocks weighed on the index. The S&P BSE Sensex climbed 181.87 points or 0.24% to 76,992.77. The Nifty 50 index rose 66.70 points or 0.29% to 23,465.60. The 50-unit index has risen 0.89% in four straight sessions.

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