Asian Markets Down, Indian Indices May Open Lower

29 Aug 2024 , 09:17 AM

D-Street expected to open lower on August 29. The GIFT Nifty indicating a negative start as trading at 25,002.00 at 07:10 am IST.

On August 28, the indices closed higher with Nifty up 34.50 point at all time high for the first time above 25,100 led by IT and pharma sector while the Sensex was up 73.80 points and closed at 81,785.56.

Global Markets:

Asian markets traded lower early on Thursday, weighed down by tech stocks in South Korea and Taiwan, following chipmaker Nvidia’s second-quarter earnings report.

U.S. stocks declined on Wednesday as investors awaited Nvidia’s quarterly report, considered the key event of the week for Wall Street. The results could either halt or further fuel a rally that has been driven by optimism surrounding artificial intelligence.

Shares of Nvidia, the leading supplier of AI processors, fell by 2.1% ahead of the earnings announcement, reducing their year-to-date gain to 154%.

The S&P 500 dropped 0.60% to close at 5,592.18 points, while the Nasdaq fell 1.12% to 17,556.03 points. The Dow Jones Industrial Average also slipped 0.39% to end at 41,091.42 points.

FII & DII data:

FII turns net sellers on August 28 and sold equities worth ₹1347 crore however, DII bought equities worth ₹439 crore.