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Indices expected to open higher

26 Mar 2024 , 03:16 PM

On February 23, the benchmark Sensex and Nifty indices are expected to open higher, as indicated by trends in the GIFT Nifty, which suggests a positive start with a gain of 39 points for the broader index.

Overnight, the US stock markets saw a slight increase following Nvidia's impressive earnings report, while Asian markets also reflected gains, edging higher this morning.

At the close of trading on February 22, the Sensex surged by 535.15 points or 0.74% to reach 73,158.24, and the Nifty climbed by 162.50 points or 0.74%, closing at 22,217.50. 

In a highly volatile session, the benchmark indices erased all previous session losses, with the Nifty hitting a fresh all-time high of 22,252.50, driven by buying across sectors.

According to the minutes of the Reserve Bank of India's (RBI) monetary policy committee (MPC) meeting released on February 22, the committee members remained cautious about inflation prints due to uncertainty in food prices. During the February monetary policy review, RBI Governor Das expressed concerns that recurring food price shocks could disrupt the ongoing disinflation process, with risks of de-anchoring inflation expectations and generalization of price pressures.

Provisional data from the NSE showed that foreign institutional investors (FIIs) net sold shares worth ₹1,410.05 Crore, while domestic institutional investors (DIIs) bought ₹1,823.68 Crore worth of stocks on February 22.

Related Tags

  • BSE
  • nifty
  • NSE
  • sensex
  • stock market news
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