by Sandip Das on 2 April 2024, 5 min read
Sensex and Nifty are likely to open in the green tracking positive Asian cues despite weak US markets. The Indian stock market ended on a positive for the third consecutive session on April 1, 2024. At close, Sensex was up 363.20 points or 0.49 percent at 74,014.55. Nifty added 135.10 points or 0.61 percent at 22,462. Around 3015 shares advanced and 572 shares declined while 112 stocks unchanged. Except Auto, all other sectoral indices ended in the green with metal, power, capital goods, healthcare, realty up 1-4 percent, while oil & gas, Information Technology, bank were up 0.5 percent each.
Trends on GIFT Nifty indicate a positive opening for Indian stock market.
The Dow and S&P 500 edged lower on Monday, dragged down by investor worries over the timing of interest rate cuts by the Federal Reserve after stronger-than-expected manufacturing data pushed Treasury yields higher. The Institute for Supply Management (ISM) said its manufacturing PMI increased to 50.3 last month, the highest and first reading above 50 since September 2022, from 47.8 in February. It suggested the manufacturing sector, which has been battered by higher interest rates, was recovering.
The Dow Jones Industrial Average fell 240.52 points, or 0.60%, to 39,566.85. The S&P 500 lost 10.58 points, or 0.20%, to 5,243.77. The Nasdaq Composite gained 17.37 points, or 0.11%, to 16,396.83, according to a Reuters report.
Asia-Pacific markets were mixed Tuesday, as investors assessed economic data from South Korea and Australia. South Korea’s Kospi was down 0.34% and the Kosdaq slid 1.11% after the inflation reading. In Australia, the S&P/ASX 200 climbed 0.12% to fresh all-time highs. Japan’s Nikkei 225 rebounded slightly to gain 0.25%. The broad based Topix was up 0.19%, according to a CNBC.com report.
Foreign institutional investors (FIIs) net sold shares worth Rs 522.30 crore. Domestic institutional investors (DIIs) purchased Rs 1,208.42 crore worth of stocks on April 1 in the stock market, provisional data from the NSE showed.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.
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