Market Expected to Open Slightly Lower

21 Aug 2024 , 08:08 AM

Indian benchmark indices, Sensex and Nifty 50, are expected to open marginally lower on August 21. The GIFT Nifty is trading slightly down, suggesting a flat to negative start for the day.

On August 20, Indian markets ended strongly, with Nifty surpassing the 24,700 mark during intraday trading. The Sensex gained 378.18 points, or 0.47%, closing at 80,802.86, while the Nifty rose by 126.10 points, or 0.51%, to finish at 24,698.80.

Asian markets were trading lower on Wednesday, mirroring Wall Street’s performance, where both the S&P 500 and Nasdaq Composite ended their eight-day winning streaks. U.S. stocks closed slightly down on Tuesday, with the Dow Jones Industrial Average falling 61.56 points, or 0.15%, to 40,834.97. The S&P 500 lost 11.13 points, or 0.20%, to 5,597.12, and the Nasdaq Composite dropped 59.83 points, or 0.33%, to 17,816.94.

On August 20, foreign institutional investors (FIIs) sold equities worth ₹1,457 crore, while domestic institutional investors (DIIs) purchased equities totaling ₹2,252 crore.