Stocks may open with small gains
18-Aug-23   07:54 Hrs IST

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 29 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Friday as investors assessed Japan's July inflation data and fresh blows to China's real estate sector. Japan's core inflation for July fell to 3.1% from June's figure of 3.3%, in line with expectations. The headline inflation rate for July came in at 3.3%, unchanged from June's figure.

Meanwhile, embattled Chinese real estate giant Evergrande has filed for bankruptcy protection in a U.S bankruptcy court on Thursday as the real estate crisis in China deepens. With debts estimated to total more than $300 billion, it was the world's most heavily indebted property developer, as per reports.

US stocks ended lower on Thursday as investors continued to grapple with minutes from the U.S. Federal Reserve that showed it remains concerned about inflation, and more rate hikes may be needed.

Domestic markets:

Back home, the frontline indices ended lower on Thursday, snapping a two-day gaining streak. Trading was volatile due to expiry of weekly index options on the NSE. The barometer index, the S&P BSE Sensex declined 388.40 points or 0.59% to 65,151.02. The Nifty 50 index lost 99.75 points or 0.51% to 19,365.25.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,510.86 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 313.97 crore in the Indian equity market on 17 August, provisional data showed.

Powered by Capital Market - Live News