Sensex and Nifty expected to open positive

15 May 2024 , 07:41 AM

The benchmark Sensex and Nifty indices are poised for a positive start on May 15, driven by GIFT Nifty trends projecting a gain of 75 points for the broader index.

As per GIFT Nifty indications, the broader index in India is anticipated to open on a positive note, with a 0.34% increase or 75 points. Nifty futures are currently trading around the 22,390 level.

On May 14, India’s Sensex and Nifty extended their rally for the third consecutive session, with Sensex surging by over 300 points and Nifty maintaining its position above the 22,200 level. The broader market indices BSE MidCap and SmallCap exhibited strength, climbing over 1% following a recent correction.

By the end of the trading session, Sensex crossed the 73,000 mark, registering a gain of 0.45% or 330 points, while Nifty closed at 22,218, reflecting a rise of 0.51% or 113.8 points. Among the sectoral indices, Nifty Metal emerged as the top gainer, advancing by 2.77%, followed by Nifty Auto and Oil & Gas sectors, which rose by 1.8% each. Additionally, Nifty PSU Bank, Consumer durables, and Realty sectors witnessed gains of 1% each. Conversely, Nifty FMCG and Pharma sectors experienced declines of 0.5% each.

International markets:

In the Asia-Pacific region, markets opened higher on Wednesday, following the lead from Wall Street despite stronger-than-expected inflation data. Japan’s Nikkei 225 rose by 0.75%, while the broader Topix gained 0.53%. Stocks in the US climbed on the back of fresh economic data, with investors eagerly awaiting key inflation figures. The Nasdaq reached a new record high, while the Dow Jones and S&P 500 indices also recorded gains.

FII & DII Data

In terms of investment flow, Foreign Institutional Investors (FIIs) sold shares worth ₹4,065.52 Crore, whereas Domestic Institutional Investors (DIIs) injected ₹3,527.86 Crore worth of stocks into the market on May 14.