Indian stock markets may open on a flat note today

9 May 2024 , 08:48 AM

The benchmark Sensex and Nifty indices are anticipated to open on a subdued note on May 9, with trends in the GIFT Nifty signaling a marginal gain of 4 points for the broader index.  GIFT Nifty was trading at around  22,391 level.

On May 8, India’s benchmark Sensex and Nifty indices concluded the day unchanged as the market grappled with uncertainty surrounding election results and subdued corporate earnings. Nevertheless, the broader markets displayed resilience, with the BSE Smallcap rising by 0.5% and the BSE Midcap edging 0.8% higher, recovering from the previous day’s losses of nearly 2% each.

At the close on May 8, the Sensex registered a marginal decline of 45 points (0.1%), settling at 73,466.39, while the Nifty 50 inched up by 4.50 points. Among the individual stocks, 1,946 shares advanced, 1,310 declined, and 106 remained unchanged.

International markets:

In the Asia-Pacific region, markets exhibited a mixed outlook ahead of China’s April trade data and Japan’s pay statistics. Projections indicate an anticipated 1.5% rise in China’s exports, rebounding from March’s 7.5% drop, while imports are expected to grow by 4.8% year-on-year, compared to a 1.9% decline in March.

On Wall Street, investor enthusiasm for stocks diminished as traders hesitated to join a robust early May rally. The S&P 500 closed flat, remaining below the 5,200 mark.

FII & DII Data:

During the trading session on May 8, Foreign Institutional Investors net sold Indian shares worth ₹6,669.10 Crore, while Domestic Institutional Investors purchased shares worth ₹5,928.81 Crore, as the markets closed on a flat note.