Market may open higher
04-Sep-23   08:15 Hrs IST

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 25 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Monday as investors look to key data from Australia and China later in the week. The Reserve Bank of Australia will release its rate decision on Tuesday, while China is expected to release its trade balance for August on Thursday and its inflation rate next weekend.

US stocks ended mixed on Friday as traders weighed the latest U.S. jobs report. The unemployment rate jumped to 3.8% in August, the U.S. Department of Labor said Friday. Nonfarm payrolls grew by a seasonally adjusted 187,000 in August. However, job numbers first reported for June and July were revised down by a combined 110,000.

Domestic markets:

Back home, domestic stock market surged on Friday amid positive global cues, particularly as US PCE inflation aligned with expectations. The barometer index, the S&P BSE Sensex rallied 555.75 points or 0.86% to 65,387.16. The Nifty 50 index added 181.50 points or 0.94% to 19,435.30.

Foreign portfolio investors (FPIs) bought shares worth Rs 487.94 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,294.93 crore in the Indian equity market on 1 September, provisional data showed.

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