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India stock markets may open on positive note

6 May 2024 , 09:07 AM

The Indian equity market may open on a positive note on May 6. Indications from the GIFT Nifty suggesting a gap-up opening for the broader index.

After experiencing a downward trend driven by profit-taking in the previous session, the market is now poised for a rebound. Heavyweights such as RIL, L&T, and HDFC Bank witnessed declines, contributing to the lower close on Friday. However, with the positive momentum expected at the opening bell, investors are eyeing opportunities for potential gains.

International Markets

In the global arena, Asian stocks are holding steady as traders await China’s return from holiday, with expectations of a rise in mainland markets. Meanwhile, in the US, stocks surged on Friday, led by the tech sector, following a weak jobs report. Warren Buffett’s upcoming appearance and AI earnings are also contributing to the bullish sentiment.

As investors navigate market volatility influenced by factors such as elections, US economic uncertainty, and FPI selling, staying informed about the latest developments is crucial. Despite challenges, optimism persists fueled by dovish remarks from Powell and expectations surrounding earnings season.

FII & DII Data

In terms of institutional activity, foreign institutional investors (FIIs) net sold shares worth ₹2,391.98 Crore, while domestic institutional investors (DIIs) injected ₹690.52 Crore on May 3. These trends underscore the dynamic nature of market participation and the importance of monitoring institutional activity for insights into market sentiment.

Related Tags

  • BSE
  • nifty
  • NSE
  • Pre-Market
  • sensex
  • stock market news
  • Stock Market Updates
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