Indian Stock Market Set for Upbeat Start on April 1

1 Apr 2024 , 08:58 AM

The Sensex and Nifty indices are poised for a positive opening on April 1, with the GIFT Nifty signaling a higher start for the broader index, indicating a gain of 63.50 points.

Market performance was robust on the final day of FY24, continuing its winning streak into the second consecutive session on March 28, driven by widespread buying across sectors.

Closing figures for March 28 saw the Sensex up by 655.04 points or 0.90% at 73,651.35, and the Nifty up by 203.20 points or 0.92% at 22,326.90. Meanwhile, the S&P 500 ended the week with modest gains on Thursday, marking its strongest first quarter in five years, as investors absorbed economic data and awaited the next inflation report.

The Dow Jones Industrial Average climbed 47.29 points, or 0.12%, to 39,807.37, the S&P 500 rose 5.86 points, or 0.11%, to 5,254.35, and the Nasdaq Composite dipped 20.06 points, or 0.12%, to 16,379.46.

In Asian markets, early trading on Monday showed a positive trend as investors evaluated China’s February business activity and awaited economic updates from Japan. China’s National Bureau of Statistics reported an expansion in manufacturing activity for March, with the purchasing managers index reaching 50.8, up from February’s 49.1.

On March 28, foreign institutional investors (FIIs) were net buyers of shares worth ₹188.31 Crore, while domestic institutional investors (DIIs) purchased stocks amounting to ₹2,691.52 Crore, according to provisional data from the NSE.