Indian Markets Set for Flat to Positive Opening on Oct 17, 2024

17 Oct 2024 , 09:15 AM

Indian benchmark indices, Sensex and Nifty 50, are expected to have a flat to positive start on October 17. As of 7:00 AM IST, Nifty futures were trading at 25,042.

On October 16, the benchmark indices closed lower for the second consecutive session, with the Nifty dipping below 25,000 due to broad-based selling across sectors, with the exception of real estate. At the end of trading, the Sensex was down 318.76 points, or 0.39%, finishing at 81,501.36, while the Nifty fell by 86 points, or 0.34%, to settle at 24,971.30.

Asian markets displayed mixed results on Thursday, despite a strong performance on Wall Street. The Dow Jones Industrial Average reached a record close as the earnings season kicked off positively. The S&P 500 came close to setting another closing milestone, ending up 27.21 points, or 0.47%, at 5,842.47, while the Nasdaq Composite rose by 51.49 points, or 0.28%, to close at 18,367.08. The Dow advanced 337.28 points, or 0.79%, to reach 43,077.70.

In the domestic market, foreign institutional investors (FIIs) sold equities worth ₹3,436 crore on October 16, while domestic institutional investors (DIIs) purchased equities worth ₹2,256.29 crore on the same day.