Indices may open on flat note
05-Sep-23   08:06 Hrs IST

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 4 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower ahead of Australia's central bank's rate decision, as well as inflation and business activity readings from across the region. The Reserve Bank of Australia is expected to hold its benchmark policy rate for the third straight month, as per reports. Investors are also monitoring purchasing managers index readings from China and India.

Japan's service sector activity expanded at the fastest pace since May, according to a private survey from au Jibun bank. The country's service purchasing managers index stood at 54.3 in August, unchanged from the flash estimates released in late August and higher than the 53.8 in July.

US stocks were closed on Monday for the Labor Day holiday.

Domestic markets:

Back home, equity benchmarks gained moderately on Monday, following positive global markets and encouraging domestic macroeconomic data. The barometer index, the S&P BSE Sensex, was up 240.98 points or 0.37% to 65,628.14. The Nifty 50 index added 93.50 points or 0.48% to 19,528.80.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,367.67 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,563.48 crore in the Indian equity market on 4 September, provisional data showed.

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