Markets may start the day in green on positive global cues

23 Apr 2024 , 08:48 AM

Expectations point towards a positive opening for the benchmark Sensex and Nifty indices on April 23, fueled by positive indications from the GIFT Nifty, hinting at a robust start for the broader index with a gain of 32 points.

The GIFT Nifty forecasts a promising initiation for India’s broader index, projecting a gain of 32 points or 0.14%. Currently, Nifty futures hover around the 22,416.50 mark.

On April 22, Indian equity indices continued their upward trajectory for the second consecutive session, buoyed by favourable global trends and a slight alleviation of concerns surrounding Iran-Israel tensions. The closing figures depicted a surge, with the Sensex climbing 560.29 points, or 0.77%, to 73,648.62, and the Nifty advancing by 189.40 points, or 0.86%, to 22,336.40.

International Markets:

Early trading in Asian markets on Tuesday witnessed positive momentum, with the Strait Times index rising nearly 1%, while the Nikkei and Kospi showed marginal gains.

Wall Street wrapped up Monday’s trading on a positive note, rebounding from previous sessions’ downturns. Investor focus shifted towards a busy week of quarterly earnings reports from key companies, providing insights into the state of the US economy.

The S&P 500 surged by 43.37 points, or 0.87%, to reach 5,010.60, while the Nasdaq Composite saw a gain of 169.30 points, or 1.11%, reaching 15,451.31. Additionally, the Dow Jones Industrial Average climbed 253.58 points, or 0.67%, to close at 38,239.98.

FII & DII Data

According to provisional data from the NSE, Foreign Institutional Investors (FIIs) offloaded shares worth Rs 2,915.23 crore, while Domestic Institutional Investors (DIIs) purchased stocks worth Rs 3,542.93 crore on April 22.