Bourses may open positive on Oct 07, 2024

7 Oct 2024 , 08:53 AM

Indices likely to open higher on October 7. Nifty futures were trading at 25,246.50 at 07:00 am IST.

Indian equity markets faced another decline on October 4, marking the fifth consecutive day of losses. By the end of trading, the BSE Sensex fell by 808.65 points, or 0.98%, settling at 81,688.45. Similarly, the Nifty index experienced a drop of 200.30 points, or 0.79%, to close at 25,049.80.

Global markets:

Asian stock markets were trading positively after US labor data alleviated recession concerns and led to a significant reduction in expectations for interest rate cuts.

The report revealed that U.S. job gains in September were the highest in six months, and the unemployment rate dropped to 4.1%. This positive data reassured investors and bolstered market sentiment.

The Dow closed up 341.16 points, or 0.81%, at 42,352.75. Meanwhile, the S&P 500 rose by 51.13 points, or 0.90%, to finish at 5,751.07, and the Nasdaq Composite increased by 219.37 points, or 1.22%, ending at 18,137.85.

FII & DII Data:

The FIIs sold equities worth ₹9,896.95 crore while DIIs bought equities worth ₹8905 crore on October 4.