Indices expected to open positively

28 Jun 2024 , 08:50 AM

The benchmark Sensex and Nifty indices are expected to open with a gap-up on June 28, with the GIFT Nifty trading higher. At 07:00 am IST, Nifty futures were trading at 24,180.5.

On June 27, Indian benchmark indices rallied for the third consecutive session, with the Nifty crossing the 24,000 mark for the first time, buoyed by gains in Information Technology and energy stocks. At the close of trading, the Sensex had risen by 568.93 points, or 0.72%, to 79,243.18, while the Nifty gained 175.70 points, or 0.74%, to settle at 24,044.50.

Asian stocks are on track for a fifth consecutive month of gains, driven by the increasing belief that cooling inflation in the United States could lead the Federal Reserve to ease rates later this year. Global stock indexes moved higher on Thursday, and U.S. Treasury yields dipped slightly following a series of U.S. economic reports indicating a slowdown in momentum.

Foreign institutional investors (FIIs) turned net buyers, purchasing equities worth ₹7,658 crore on June 27. Conversely, domestic institutional investors (DIIs) became net sellers, offloading equities worth ₹3,605 crore on the same day.