Positive Start Likely for Markets as Gift Nifty Signals Gap-Up Opening

On May 14, Foreign Institutional Investors (FIIs) were net buyers, investing Rs 931.80 crore in equities. Domestic Institutional Investors (DIIs) also purchased shares worth Rs 316.31 crore.

Pre-Market Update at 8:00 AM: Early trends from Gift Nifty point to a positive start for domestic markets. At around 7:16 am, Gift Nifty hovered near 24,752, indicating a premium of 38 points over the previous Nifty close and suggesting a possible gap-up opening.

Asian equities opened in the red on Thursday after a four-day winning streak, while US markets posted mixed results overnight. The Nasdaq Composite gained 0.72 per cent, the S&P 500 edged up 0.1 per cent, but the Dow Jones Industrial Average slipped 0.21 per cent.

A number of prominent companies are set to release their Q4 earnings today. These include JSW Energy, Cochin Shipyard, PB Fintech, Patanjali Foods, Abbott India, Page Industries, Tube Investments of India, Godfrey Phillips India, and ITC Hotels. Stock-specific movements may be seen based on these results.

On May 14, Foreign Institutional Investors (FIIs) were net buyers, investing Rs 931.80 crore in equities. Domestic Institutional Investors (DIIs) also purchased shares worth Rs 316.31 crore.

Markets ended Wednesday's session with modest gains. Buoyed by lower retail inflation and steady global cues, the Sensex rose by 182 points to 81,330.56, while the Nifty 50 climbed 89 points to close at 24,666.90. Volatility eased, with India VIX declining 5.6 per cent to 17.18.

Gold prices softened slightly as geopolitical tensions eased. Spot gold fell by 0.02 per cent to USD 3,177 per ounce, while Indian gold futures declined by 1.48 per cent to Rs 92,265. In the crude market, prices pulled back after a recent rally. Brent crude dropped 1.38 per cent to USD 64.47 per barrel, and WTI fell 1.33 per cent to USD 61.37.

For today, CDSL, Hindustan Copper and Mannapuram Finance continue to remain under the F&O ban list.

Disclaimer: The article is for informational purposes only and not investment advice.