Indices likely to open flat on Oct 21, 2024

21 Oct 2024 , 09:20 AM

Indian benchmark indices, Sensex and Nifty 50, are expected to open on a positive note on October 21. As of 07:00 AM IST, Nifty futures were trading at 24,932.

After three consecutive days of decline, equity benchmark indices experienced a rebound on Friday, driven by buying interest in banking, financial services, and metal stocks. However, they still underperformed relative to broader market trends.

On October 18, the BSE Sensex closed 218.14 points higher at 81,224.75, recovering over 800 points from its low of 80,409.25 during the trading session. The NSE Nifty rose by 104.20 points, finishing at 24,854.05.

In Asia, the benchmark stock index recorded modest gains, while gold prices reached a record high due to heightened demand for safe-haven assets amid ongoing tensions in the Middle East.

In the U.S. market on Friday, the S&P 500 increased by 23.20 points (0.40%) to 5,864.67. The Nasdaq Composite rose by 115.94 points (0.63%), closing at 18,489.55, and the Dow Jones Industrial Average gained 36.86 points (0.09%) to finish at 43,275.91.

Foreign institutional investors (FIIs) continued their selling trend, offloading equities worth ₹5,485 crore on October 18. In contrast, domestic institutional investors purchased equities worth ₹5,214 crore on the same day.