Nifty, Sensex Set to Open on a Positive Note; DIIs Remain Net Buyers for 16th Straight Session
On Wednesday, June 11, Indian equity benchmarks are likely to open on a positive note. As of 7:31 AM, the GIFT Nifty was trading near the 25,185 mark, up 40 points from its previous close.
Asian markets moved higher on Wednesday, while U.S. stock futures held steady in early Asian hours. Investors remain cautious, looking ahead to more updates on trade talks and the release of U.S. consumer inflation data for May.
Talking about the institutional flow, the DIIs in Indian equities have remained net buyers for the last 16 trading sessions.
On Tuesday, June 10, Foreign Institutional Investors (FIIs) were net buyers, having bought equities worth ₹2,301.87 crore. Domestic Institutional Investors (DIIs), on the other hand, bought shares totalling ₹1,113.34 crore during the same session.
The Mid-cap and Small-cap indices continued their upward momentum, while the major benchmark indices showed little movement on Tuesday. The Nifty 50 closed slightly in the green, whereas the BSE Sensex slipped by 53 points to settle at 82,391. Meanwhile, the Bank Nifty declined by 210 points, ending the session at 56,629.
Asian peers are mostly trading higher on Wednesday, taking cues from Wall Street’s positive performance, as investors keep a close watch on the ongoing US-China trade talks. According to Commerce Secretary Howard Lutnick, the discussions are progressing “really, really well.”
The S&P 500 closed in the green on Tuesday, supported by a surge in Tesla shares and growing optimism around the ongoing US-China trade discussions. Investors appeared hopeful that the talks would ease the ongoing tariff tensions that have unsettled global markets throughout the year. The Dow Jones Industrial Average jumped by 0.25% and settled at 42,866.87. Meanwhile, the S&P 500 edged up by 0.55% to finish at 6,038.0, and the Nasdaq advanced 0.66%, ending the day at 21,941.92.
In London, discussions took place amid a backdrop of mutual blame between the US and China, with each accusing the other of walking away from a trade-related agreement reached in Geneva this May. Ahead of these talks, there were signs of improving trade relations—China cleared a few rare earth export permits, and Boeing Co. restarted commercial aircraft deliveries to China for the first time since early April.
The U.S. dollar maintained its strength against major currencies on Wednesday, supported by positive sentiment following a framework agreement between the United States and China on trade. This development raised hopes for an end to the prolonged trade conflict between the two largest global economies. However, during early Asian hours, the dollar saw a slight pullback.
Gold prices edged lower on Tuesday as market participants monitored ongoing discussions between the U.S. and China. Hopes of easing trade tensions and an improved global economic scenario reduced the appeal of gold as a safe-haven asset. The stronger dollar also contributed to the price decline. Spot gold was down 0.1%, trading at $3,324.55 an ounce, while U.S. gold futures ended 0.3% lower at $3,343.40.
Crude oil prices weakened in early Wednesday trade ahead of President Donald Trump’s expected review of the U.S.-China trade progress. Concerns over declining demand from China and increased output from OPEC+ added to the bearish tone. Brent crude dropped 24 cents (0.36%) to $66.63 per barrel, while WTI crude slipped 21 cents (0.32%) to $64.77.
Disclaimer: The article is for informational purposes only and not investment advice.
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