Sensex and Nifty expected to open flat on May 22

22 May 2024 , 08:18 AM

The benchmark indices, Sensex and Nifty, are projected to open flat on May 22, following GIFT Nifty trends that suggest a 14-point gain for the broader index. Nifty futures were trading at 22,632.50.

On May 21, the Indian markets experienced a volatile session, ending nearly flat with the Nifty holding above the 22,500 mark. The sector-wise performance saw the metal index rising by 4%, the power index gaining 2%, and the PSU Bank index increasing by 1.5%, while the FMCG sector declined by 0.5%. The BSE midcap index edged up by 0.3%, whereas the smallcap index fell by 0.2%.

International markets

In the early trade on Tuesday, Asian markets were mostly trading lower. Japan’s Nikkei index opened down by 0.6% and Topix decreased by 0.4%. South Korea’s Kospi saw a 0.2% decline, while Taiwan’s index was up by 0.4%.

Wall Street concluded modestly higher on Tuesday, with U.S. Treasury yields dipping ahead of the holiday weekend and in the absence of significant market catalysts.

FII & DII Flow

Foreign institutional investors (FIIs) continued their selling trend on May 21, offloading Indian equities worth ₹1,874.54 Crore. Conversely, domestic institutional investors (DIIs) were net buyers, purchasing equities worth ₹3,548.97 Crore on the same day.