Indian Indices Poised for Weak Start on Oct 31, 2024

31 Oct 2024 , 08:55 AM

Indices Sensex and Nifty are expected to open negative on October 31 amid global cues. The GIFT Nifty was also trading in negative early this morning around 24,305.

In a volatile session on October 30, Indian benchmark indices broke a two-day winning streak, closing lower due to selling in banking, metal, and IT sectors.

The Sensex ended down by 426.85 points, or 0.53%, at 79,942.18. However, the Nifty declined by 126 points, or 0.51%, to settle below 24,350, closing at 24,340.85.

Global Markets:

Asian markets saw a decline on Thursday as investors anticipated the Bank of Japan’s upcoming rate decision. At the same time, attention was focused on key business activity data from China, which could provide insights into the region’s economic health.

U.S. stock indexes closed down on Wednesday as chip stocks faced significant declines. The investors closely watching for upcoming corporate earnings reports.

The Dow Jones Industrial Average dropped 91.51 points, or 0.22%, finishing at 42,141.54. The S&P 500 slipped by 19.25 points, or 0.33%, to end at 5,813.67. Meanwhile, the Nasdaq Composite fell 104.82 points, or 0.56%, closing at 18,607.93.