The SGX Nifty indicates that Indian stock markets will start flat today. The Nasdaq and S&P 500 concluded Friday with slight increases of 0.7% and 0.3%, respectively. The Dow Jones finished level, up two points.
On Thursday, the Sensex finished 143 points higher at 59,832, while the Nifty-50 finished 42 points higher at 17,599. On Thursday, the Nifty Bank gained 42 points to close at 41,041 points. “Rate pause and encouraging domestic economic data continues to provide positive undertone to the market. However, given the backdrop of global uncertainties and fear of US recession, we might see range bound movement in the near term,” said Siddhartha Khemka of Motilal Oswal Financial Services.
Thursday was the sixth day in a row that foreign institutional investors kept buying Indian shares. According to preliminary data from exchanges, FIIs were net purchasers in the cash markets on Thursday to the tune of Rs 475 crore. Nonetheless, DIIs continued to sell shares worth Rs 997 crore in cash markets on Thursday, according to preliminary data from exchanges.
Today’s top stocks to watch are Titan, Tata Motors, Sobha, IGL, MGL, and Guj Gas, among others.