Indian Markets Expected to Open Flat Amid Global Cues

13 Aug 2024 , 07:33 AM

On August 13, the Indian benchmark indices, Sensex and Nifty 50, are likely to open flat, with Nifty futures trading at 24,334 at 07:00 AM IST. The markets have been experiencing heightened volatility, and on August 12, both indices ended slightly lower, with the Nifty closing below the 24,350 mark. This decline came after U.S.-based Hindenburg Research raised allegations against the chairperson of the Securities and Exchange Board of India (SEBI), the country’s capital market regulator.

By the end of the trading session on August 12, the Sensex had dipped by 56.99 points, or 0.07%, closing at 79,648.92. Similarly, the Nifty fell by 20.50 points, or 0.08%, to settle at 24,347.

Meanwhile, Japan’s major stock indices saw significant gains in Tuesday morning trading as the markets reopened after a holiday. The benchmark Nikkei 225 surged by 2.57%, crossing the 36,000 mark for the first time since August 2. The Topix index also climbed by 2.15%.

On Wall Street, stock performance was mixed on Monday as investors awaited key U.S. economic data, particularly consumer price reports, to assess the Federal Reserve’s future monetary policy. The S&P 500 inched up by 0.23 points to close at 5,344.39, while the Nasdaq Composite rose by 35.31 points, or 0.21%, ending at 16,780.61. Conversely, the Dow Jones Industrial Average declined by 140.53 points, or 0.36%, to finish at 39,357.01.

In the Indian markets, foreign institutional investors (FIIs) sold equities worth ₹4,680 crore on August 12, while domestic institutional investors (DIIs) purchased equities worth ₹4,477 crore on the same day.