Market eyes steady start after Monday's rebound

30 Apr 2024 , 08:18 AM

On April 30, the benchmark Sensex and Nifty indices are poised to open on a steady to positive note, as indicated by the trends in the GIFT Nifty. The broader index is anticipated to kick off with a marginal gain of 15 points, signaling a relatively subdued start for the Indian market. Nifty futures were observed trading around the 22,780 mark.

Following a resilient performance, the market rebounded notably, wiping out the losses incurred during the previous session. The Nifty managed to surpass the 22,600 mark, buoyed by widespread buying activity across various sectors, except for real estate.

By the end of the trading day, the Sensex surged by 941.12 points, marking a growth of 1.28%, closing at 74,671.28. Similarly, the Nifty climbed by 223.45 points or 1%, concluding at 22,643.40.

International Markets:

In the international arena, US stocks exhibited positive momentum on Monday, accompanied by a surge in the yen amidst speculations of intervention, setting the stage for an eventful week ahead. The Dow Jones Industrial Average recorded an increase of 147.4 points, equivalent to 0.39%, reaching 38,387.06. The S&P 500 also saw gains, rising by 16.19 points (0.32%) to 5,116.15, while the Nasdaq Composite added 55.18 points (0.35%) to 15,983.08.

Asian markets are expected to continue their upward trajectory on Tuesday, mirroring the movements witnessed on Wall Street, with investors eagerly anticipating the release of China’s manufacturing Purchasing Managers’ Index (PMI) for April.

FII & DII Data

According to provisional data from the NSE, foreign institutional investors (FIIs) were net buyers of ₹169.09 Crore worth of shares, whereas domestic institutional investors (DIIs) infused ₹692.05 Crore on April 29.