Sensex gains 103 points, Nifty flat amid weak global cues
What did Gift Nifty indicate?
ย
Gift Nifty, an early indicator for the Nifty 50, signalled a weak start today, opening down 89 points to 24,510.50 from the previous close of 24,599.50. Foreign Institutional Investors (FIIs) remained buyers on Thursday, i.e. on November 5, with equity purchases of Rs 14,974.68 crore. However, Domestic Institutional Investors (DIIs) extended their selling streak, offloading equities worth Rs 10,444.54 crore.ย
ย
“India may initially demonstrate relative resilience amid the global market correction, although this should not be mistaken for immunity to broader risk aversion. Stable crude oil prices, contained FII selling, and Bank Nifty sustaining its recent breakout could help limit downside pressure on domestic equities. However, a broader wave of foreign institutional liquidation or a decisive breach of the 24,330 level would signal that global risk aversion is increasingly outweighing domestic market support,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
ย
Asian Markets Todayย ย
ย
Asian stocks tumbled after a widespread sell-off of artificial intelligence issues on Wall Street. The S&P 500 fell 4.4 per cent, and the Dow Jones Industrial Average sank 1,833 points, or 3.4 per cent, while the Nasdaq composite tumbled 5.5 per cent. Japan’s Nikkei 225 fell 3,592.90 points, or 5.88 per cent, to 57,485 at the time of writing. Similarly, Hong Kong’s Hang Seng fell 275.98 points or 1.11 per cent. South Korea’s Kospi shed 256.54 points, or 5 per cent. Shanghai’s SSE Composite index rose 42.01 points, or 1.14 per cent.ย ย