Indices trade flat amid mixed Asian trends

19 Jun 2023 , 09:23 AM

Markets start on a cautious note in pre-market session amid SGX Nifty displaying a mixed trend with most of the Asian indices faltering in early trades. Investors are looking ahead to o China’s rate decision and U.S. Federal Reserve Chair Jerome Powell’s testimonies for clues on the rate path ahead.

Based on Friday’s strong positive session, it appears that the Nifty index will likely maintain its upward momentum, with investors keeping a close watch on its all-time high level of 18,888. 

The ongoing inflow of funds from foreign institutional investors (FIIs) into the Indian equities market, coupled with the improving economic situation in India, are two positive factors that are likely to boost investor confidence amid a challenging global outlook. 

Additionally, the Bank Nifty index is expected to perform well and potentially reach its own all-time high level at 44,499.

The Sensex has gained 80 points, and the Nifty has crossed the 18,865 mark, indicating a positive trend in the stock market.