Indices may open Flat on Oct 22, 2024

22 Oct 2024 , 09:24 AM

Indian benchmark indices likely to open flat to positive on October 22 amid global cues. The GIFT Nifty was trading around 5 points up earlier this morning which suggests flat opening.

On October 21, the indices closed on a weak note, with Nifty falls below 24,800. The Sensex closed at 0.09% or 73 points down at 81,151.27 while the Nifty ended 0.29% down to close at 24,781.10. Notably, except auto sector, all other sectoral indices ended in red. At the same time, BSE Midcap and BSE Smallcap indices too fall around 1% each.

The Dow Jones Industrial Average and the S&P 500 ended lower on Monday, pulling back from Friday’s record highs and breaking a six-week winning streak as Treasury yields increased. Investors remained cautious due to elevated valuations while awaiting earnings reports from major corporations.

The Dow dropped 344.31 points, or 0.80%, to 42,931.60, and the S&P 500 declined by 10.69 points, or 0.18%, to 5,853.98. In contrast, the Nasdaq Composite rose by 50.45 points, or 0.27%, to 18,540.01, driven by Nvidia, which surged 4.14% to a record high of $143.71.

Asian markets were also trading lower on Tuesday morning after a mixed session in the US markets.