The December futures contract of the GIFT Nifty hints at a muted opening for benchmarks. At 07.52 a.m., GIFT Nifty was down 23 points or 0.11% at 21,037 points.
India’s benchmark indices closed at a record high for the third consecutive day on Wednesday as ITC Ltd., Larsen & Toubro Ltd. and Reliance Industries Ltd. led the gains.
The NSE Nifty 50 ended 83 points or 4% higher at 20,937.70, while the S&P BSE Sensex closed 358 points or 0.52% up at 69,653.73. Investors now await the Nifty 50 to cross the crucial 21,000 level.
Share indices in the Asia-Pacific region were trading on a mixed note, tracking overnight losses on Wall Street and as the US Treasury yields declined.
Markets in Australia fell as a slump in crude oil prices weighed on the commodity prices, which dented investors’ sentiment. Commodities make up a large portion of Australia’s exports.
Markets in Japan were trading lower. Nikkei was down 0.87% at 33,132.35 as of 6.40 a.m.
The US Treasury yields continued to fall as private payrolls declined more than market expectation, fuelling investors’ bet the Federal Reserve is done with monetary tightening and may start loosening from next year.
Fall in safe-haven US Treasury yields boosted investors’ sentiment for riskier assets, such as emerging markets’ equities. Markets in China were trading higher.
Brent crude was trading up 0.34% at $74.55 per barrel. Gold was up by 0.13% to $2,028.86 an ounce.
Overseas investors turned net sellers on Wednesday after remaining net buyers for eight consecutive sessions. Foreign portfolio investors sold stocks worth Rs 79.9 crore, while domestic institutional investors turned net buyers after one session of selling and bought stocks worth Rs 1,372.2 crore, the NSE data showed.
The Indian rupee strengthened 6 paise to close at Rs 83.33 against the dollar on Wednesday.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
