Stock Markets Eye Flat to Negative Open on Thursday

23 May 2024 , 08:43 AM

The GIFT Nifty on the NSE IX traded lower by 35 points, or 0.15%, at 22,659, indicating a potential negative start for Dalal Street on Thursday.

On Wednesday, domestic indices exhibited a sideways trading pattern throughout the day, ultimately closing with marginal gains.

The fifth straight session ended on a positive note with the Nifty reclaiming 22,600 in a volatile session ahead of the release of the Federal Reserve’s latest meeting minutes. The Sensex rose by 267.75 points, or 0.36%, closing at 74,221.06, while the Nifty increased by 68.80 points, or 0.31%, ending at 22,597.80.

International Markets

Asian markets showed mixed performance following the release of the U.S. Federal Reserve’s meeting minutes, which revealed concerns among Fed officials about persistent inflation and hesitancy regarding potential interest rate cuts. Overnight, Wall Street experienced a decline, and oil prices fell as investors analyzed the minutes from the Federal Reserve’s most recent policy meeting.

FII & DII Flow

On May 22, foreign institutional investors (FIIs) sold Indian equities worth ₹686 Crore. In contrast, domestic institutional investors (DIIs) bought ₹961 Crore worth of equities during the same period.