Market may open lower
11-Sep-23   08:15 Hrs IST

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 18 points at the opening bell.

Prime Minister Narendra Modi, in his role as the host of the G20 Summit, concluded the two-day event. Indian Prime Minister Narendra Modi and U.S. President Joe Biden pledged to deepen the partnership between both countries in their second bilateral meeting in less than six months.

Global markets:

Overseas, Asian stocks are trading mixed on Monday where key economic data from major economies will take center stage. On Tuesday, India will release its inflation and industrial output figures for August, while China will announce its industrial output, retail sales, and most notably, house sale prices on Friday.

US stocks closed higher on Friday as Apple and other tech and growth stocks witnessed some buying after the recent fall due to China's ban on iPhones for government employees.

Domestic markets:

Back home, the benchmark indices settled higher on Friday, rising for the sixth consecutive trading session. The barometer index, the S&P BSE Sensex advanced 333.35 points or 0.50% to 66,598.91. The Nifty 50 index added 92.90 points or 0.47% to 19,819.95.

Foreign portfolio investors (FPIs) sold shares worth Rs 224.22 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,150.15 crore in the Indian equity market on 8 September, provisional data showed.

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