Sensex and Nifty Expected to Open Higher on June 18

18 Jun 2024 , 09:06 AM

The Indian benchmark indices, Sensex and Nifty, are likely to open on a positive note on June 18. The GIFT Nifty, an indicator of Nifty’s performance, is trading 41 points higher compared to the Nifty 50’s previous close. As of 07:00 am IST, Nifty futures were trading at 23,592.

On June 14, the Indian markets reached new record highs. The Sensex ended higher for the third consecutive session, while the Nifty closed higher for the fourth straight session. At the close, the Sensex increased by 0.24%, or 182 points, to finish at 76,992.77. The Nifty rose by 0.29%, or 66.7 points, to end at 23,465.60.

Global Market Trends

Asian markets rebounded on Tuesday, driven by a strong performance on Wall Street overnight. Investors are now looking forward to the Reserve Bank of Australia’s decision on interest rates. In the US, the S&P 500 and Nasdaq achieved record closing highs on Monday. This surge was primarily fueled by gains in technology shares, particularly those related to artificial intelligence. Investors are also eagerly awaiting this week’s economic data and speeches from Federal Reserve officials, which could provide insights into future monetary policy.

Institutional Investor Activity

On June 14, foreign institutional investors (FIIs) were net buyers, purchasing equities worth ₹2,175 crore. Domestic institutional investors (DIIs) also showed confidence in the market, buying equities worth ₹655 crore on the same day.