Markets poised for a lower start on June 10

10 Jun 2024 , 08:40 AM

The benchmark Sensex and Nifty indices are expected to open lower on June 10. The GIFT Nifty is trading 37.5 points down, suggesting a negative start. Nifty futures were at 23,292.5 at 07:00 am IST.

On June 7, Indian benchmark indices closed positively for the third consecutive session. The BSE Sensex hit an all-time high, and the Nifty 50 index edged closer to its record level. The Sensex rose by 1,618.85 points (2.16%) to 76,693.36, while the Nifty increased by 468.80 points (2.05%) to 23,290.20.

Global Market Influence

Asian markets showed mixed reactions on Monday following a stronger-than-expected U.S. jobs report on Friday, which revealed growth in hiring and wages for May. Wall Street stocks ended slightly lower on Friday amid choppy trading. The robust U.S. jobs data raised concerns that the Federal Reserve might delay cutting interest rates longer than anticipated.

FII & DII Activity

Foreign institutional investors (FIIs) turned net buyers on June 7, purchasing Indian equities worth ₹4,391.2 Crore. In contrast, domestic institutional investors (DIIs) sold equities worth ₹1,289.75 Crore on the same day.

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