News
     

Indices may nudge higher in early trade
22-Mar-24   08:43 Hrs IST

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 14 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Friday as investors assessed Federal Reserve's policy outcome. Nikkei 225 crossed 41,000 to hit a fresh all-time high on Friday as Japan inflation accelerated in February. Japan's headline consumer price rose to 2.8% on year in February, from 2.2% in January.

U.S. stocks hit fresh records, continuing its rally after the U.S. Federal Reserve held rates steady and maintained its rate cut forecast for 2024.

The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday even though inflation continues to drop from multi-decade peaks.

Domestic markets:

Back home, domestic stocks surged on Thursday, with the Nifty 50 regaining 22,000 mark. The Fed's dovish stance on interest rates, coupled with India's strong PMI reading lifted spirits. The barometer index, the S&P BSE Sensex gained 539.50 points or 0.75% to 72,641.19. The Nifty 50 index added 172.85 points or 0.79% to 22,011.95.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,826.97 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,208.87 crore in the Indian equity market on 21 March, provisional data showed.

Powered by Capital Market - Live News