On Friday, September 5, the equity market benchmark indices, Sensex and Nifty 50, are expected to open in green following positive global cues.
As of 7:14 AM, the GIFT Nifty was trading near 24,882, up 59 points.
Asian equities moved higher, and US markets rallied overnight, with the S&P 500 closing at a fresh record.
On Thursday, Indian indices closed with minor gains as optimism from GST reform supported sentiment, though worries over ongoing US tariffs resulted in profit booking at higher levels.
On Thursday, September 4, Foreign Institutional Investors (FIIs) were net sellers. FIIs sold equities worth ₹106.34 crore.
Domestic Institutional Investors (DIIs) were buyers on Wednesday. They bought shares worth ₹2,233.09 crore on the same day.
The Nifty 50 index closed with a modest gain of 0.08% at 24,734.30, after giving up most of its earlier GST Reforms-driven gains on Thursday amid global market concerns.
The Bank Nifty settled nearly unchanged at 54,075.4. Sector-wise, Auto and FMCG stocks recorded gains, while Oil & Gas, Realty, and Metals dragged the market lower. Mid-cap and Small-cap indices also declined, ended the session nearly 0.7% down.
On Thursday, US markets closed in positive territory, with the S&P 500 finishing at a record high. The Dow Jones Industrial Average advanced 350.06 points, or 0.77%, to settle at 45,621.29. The S&P 500 gained 53.82 points, or 0.83%, ending at 6,502.08, while the Nasdaq Composite climbed 209.97 points, or 0.98%, to close at 21,707.69.
US President Donald Trump has signed an executive order to put into effect the US-Japan trade deal. Under the agreement, tariffs on Japanese automobiles will be reduced to 15% from the earlier 27.5%. Many other categories of goods will also see tariff levels capped at 15%.
Fresh unemployment benefit applications in the US rose more than market expectations last week. Initial state jobless claims increased by 8,000 to a seasonally adjusted 237,000 for the week ending August 30.
Japan’s household spending recorded a year-on-year growth of 1.4% in July, below the market expectation of a 2.3% increase. On a seasonally adjusted monthly basis, however, spending grew 1.7%, compared with estimates of 1.3%.
Crude oil prices declined for the third consecutive session as traders awaited the upcoming OPEC meeting, where further output hikes are expected to be discussed. Brent futures slipped 0.27% to $66.81 per barrel, while US WTI futures edged down 0.24% to $63.33.
Gold continued its upward trend and is set to mark its third weekly gain. Spot gold rose 0.2% to $3,552.66 per ounce, putting it on track for a 3% increase this week, the strongest since mid-June.
For android only