Indices may open on a muted note

14 Jun 2024 , 08:49 AM

The benchmark Sensex and Nifty indices are likely to open flat to negative on June 14. The GIFT Nifty is trading 22 points lower compared to the Nifty 50 close. As of 07:00 am IST, Nifty futures were trading at 23,393.

On June 13, both the Sensex and Nifty indices pulled back from their record highs but still managed to close in positive territory. The Nifty 50 reached an intraday high of 23,481, and the Sensex climbed to a record 77,145. By the close, the Sensex was up 204 points or 0.3% at 76,810, and the Nifty 50 was up 77 points at 23,399.

Asian markets remained range-bound on Friday ahead of the Bank of Japan’s rate decision. In the US, the S&P 500 and Nasdaq registered record closing highs for the fourth consecutive session on Thursday, driven by a rally in technology shares. The Federal Reserve projected only one rate cut this year, a revision from its March outlook, which included three quarter-percentage-point reductions.

Institutional Investors’ Activity

On June 13, Foreign Institutional Investors (FIIs) sold equities worth ₹3,033 Crore, while Domestic Institutional Investors (DIIs) also sold equities worth ₹553 Crore.