by Sandip Das on 13 March 2024, 5 min read
The Indian stock market is likely to open in the green following positive global cues. US markets closed higher after US inflation met expectations. Following this, Asian markets were also trading in the green in the early hours of trade. GIFT Nifty points towards a positive opening for Indian indices. The Indian stock market ended on a flat note amid volatility on March 12, 2024. At close, Sensex was up 165 points at 73,667.96 while Nifty added 3 points and ended the session at 22,335.70. Around 673 stocks advanced and 3,220 declined while 74 stocks remained unchanged.
On the sectoral front, except IT all other indices ended in the red with the realty index down almost 3.5 percent. PSU Bank and Media indices shed 2 percent each, while capital goods, FMCG, healthcare, metal, and power indices shed 1 percent each.
Trends on GIFT Nifty indicate a positive opening for Indian indices.
US stocks ended sharply higher on Tuesday, with the S&P 500 registering a record-high close. This comes as Oracle shares surged and consumer price data failed to dampen investors’ hopes of interest rate cuts in the coming months, according to a Reuters report.
The Dow Jones Industrial Average rose 235.74 points, or 0.61%, to 39,005.4. The S&P 500 gained 57.3 points, or 1.12%, at 5,175.24. The Nasdaq Composite added 246.36 points, or 1.54%, at 16,265.64.
Asia-Pacific markets rose after Wall Street jumped overnight, following US inflation data that largely met expectations. The US consumer price index in February climbed 0.4% on the month and 3.2% year over year, the Bureau of Labor Statistics said on Tuesday, according to a CNBC.com report.
In Australia, the S&P/ASX 200 started the day up 0.24%, extending gains from Tuesday. Japan’s Nikkei 225 rebounded to rise 0.73% in early trade, while the broad-based Topix gained 0.79%. South Korea’s Kospi climbed 0.48% after its February unemployment rate came in at 2.6%, down from January’s figure of 3%.
Foreign institutional investors (FIIs) net bought shares worth Rs 73.12 crore in the stock market. Domestic institutional investors (DIIs) purchased Rs 2,358.18 crore worth of stocks on March 12, provisional data from the NSE showed.
The NSE has added National Aluminium Company, and Piramal Enterprises to the F&O ban list for March 13. It retained Aditya Birla Fashion & Retail, Hindustan Copper, Manappuram Finance, Mahanagar Gas, SAIL, Tata Chemicals, and Zee Entertainment Enterprises.
Disclaimer: The content of this blog post is intended solely for informational purposes and should not be interpreted as investment or trading advice. The author does not assure the accuracy or completeness of the information presented. Any decisions or actions taken based on the content of this blog post are undertaken at your own risk.
Open Free Demat Account!
In just a few minutes, Simply provide some basic personal details, to get started.