Indian equity markets likely to open on a flat note

17 May 2024 , 08:37 AM

On May 17, Indian equity markets are likely to open on a flat note.

In the previous trading session, Indian markets closed in a positive fashion on May 16, with the Sensex advancing 676 points and the Nifty above 22,400 The broader markets also gained, with BSE midcap and smallcap indices each increased by about 1%.

Asian markets traded lower on Friday as investors reassessed their expectations for interest rate hikes. However, Hong Kong stocks were expecting a stronger rise with positive corporate earnings results.

Dow Jones Industrial Average briefly crossed the 40,000 mark for the first time but fell slightly. It peaked at 40,051.05, the bull market that began in October 2022. The S&P 500 ended 0.21% lower at 5,297.10, while the Nasdaq Composite was down 0.26% at 16,698.32

Among investors coming into Indian stock markets, foreign institutional investors (FIIs) continued their selling spree, selling ₹776 Crore shares on May 16. In contrast, the state of institutional investors (DIIs) bought shares worth ₹2,128 Crore during the same trading session, reflecting the prevailing sentiments in the market.

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