Indices may open flat on Oct 01, 2024

1 Oct 2024 , 07:58 AM

Indian benchmark indices, the Sensex and Nifty 50, are expected to open on a subdued note on October 1. At 7:00 am IST, Nifty futures were trading flat at 26,002.

On September 30, bears dominated Dalal Street, leading to a sharp decline in the BSE Sensex, which plummeted over 1,300 points, while the Nifty slipped below 25,800 during the session. This downward trend was attributed to rising geopolitical tensions and anticipation of Federal Reserve Chair Jerome Powell’s speech scheduled for later that night.

By the close of the session, the Sensex had dropped 1,272.07 points, or 1.49%, settling at 84,299.78. The Nifty also fell by 368.20 points, or 1.41%, ending at 25,810.80.

Meanwhile, Asian markets were trading higher on Tuesday, following Powell’s remarks that the significant rate cuts recently implemented by the US Federal Reserve should not be taken as an indication of similarly aggressive future actions.

In the US, the Dow Jones Industrial Average rose by 17.15 points, or 0.04%, to 42,330.15. The S&P 500 added 24.31 points, or 0.42%, reaching 5,762.48, while the Nasdaq Composite climbed 69.58 points, or 0.38%, to close at 18,189.17.

Foreign institutional investors (FIIs) continued their selling spree on September 30, offloading equities worth ₹9,792 crore, while domestic institutional investors (DIIs) extended their buying, purchasing stocks worth ₹6,645 crore on the same day.