Weak Opening Expected for Sensex and Nifty

29 May 2024 , 08:29 AM

Indian benchmark indices, Sensex and Nifty, are expected to open weak on May 29. As of 6:50 AM IST, the GIFT Nifty was trading 84 points lower than the Nifty 50 close on May 28. Nifty futures were trading at 22,833.

After reaching record highs in the previous session, the Indian benchmark indices consolidated on May 28. The Sensex closed down by 220.05 points, or 0.29%, at 75,170.45, and the Nifty closed down by 44.30 points, or 0.19%, at 22,888.15.

Global Market Performance

Asian markets showed mixed performance on Wednesday. The Nasdaq Composite hit a new record high on Wall Street, surpassing 17,000 for the first time, driven by a 7% gain in Nvidia.

On Tuesday, the Nasdaq closed at 17,019.88, gaining 99.09 points or 0.59%. The S&P 500 closed barely higher, gaining 1.32 points or 0.02% to 5,306.04. Meanwhile, the Dow Jones Industrial Average fell by 216.73 points or 0.55% to 38,852.86.

FII & DII Flow

Foreign institutional investors (FIIs) were net buyers on May 28, purchasing Indian equities worth ₹65.57 Crore. Domestic institutional investors (DIIs) also continued their buying spree, acquiring equities worth ₹3,231.67 Crore on the same day.