GIFT Nifty signals flat start for Sensex, Nifty; Asian markets gain as US inflation fuels Fed rate hike fears
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Sensex and Nifty are likely to open flat on Wednesday as GIFT Nifty trades largely unchanged.
- ✓Investors are weighing a recovery in Asian technology stocks against concerns over hotter-than-expected US inflation.
- ✓While foreign institutional buying could support domestic equities, overnight losses on Wall Street may keep potential gains in check.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Moneycontrol
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
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Indian benchmark indices Sensex and Nifty are likely to open flat on Wednesday, with GIFT Nifty trading largely unchanged as investors weigh a recovery in Asian technology stocks against concerns over hotter-than-expected US inflation and the possibility of a Federal Reserve rate hike in December. Renewed foreign institutional buying and relatively lower crude oil prices could support domestic equities, although the rebound in oil and overnight losses on Wall Street may keep gains in check.
GIFT Nifty was trading at 25,330 around 8 am, up just 2 points, or 0.01 percent, signalling a muted opening after Indian markets remained closed on Tuesday for a holiday. In the previous session on Monday, the Sensex gained 107.25 points, or 0.13 percent, to close at 81,106.65, while the Nifty advanced 58.25 points, or 0.23 percent, to 25,044.65, recovering from steep intraday losses. Foreign institutional investors bought equities worth Rs 7,212 crore, while domestic institutional investors sold shares worth Rs 7,172 crore for an eighth consecutive session.
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