Indian Markets Expected to Open Flat

28 Aug 2024 , 09:04 AM

Indian benchmark indices may open flat on August 28. GIFT Nifty signals a muted start for D-Street.

On August 27, the Sensex rose 611.90 points, or 0.75%, to settle at 81,698.11, while the Nifty gained 187.40 points, or 0.75%, closing at 25,010.60.

After a lackluster performance on Wall Street, Asian markets opened lower as well. Traders were keen to see Nvidia Corp.’s results report in order to determine whether the AI-driven market rise would last.

Australia’s and Japan’s equity indexes fell on Wednesday, while US stock futures saw a negative trend as well. The negative outlook for the IT industry, which was stoked by the underwhelming earnings from the Chinese e-commerce company PDD earlier this week, might persist as investors await Nvidia’s announcements.

Foreign institutional investors (FIIs) purchased equities worth ₹1,503 crore on August 27, while domestic institutional investors (DIIs) turned net sellers, offloading equities valued at ₹604 crore on the same day.