Nifty, Sensex Poised for Positive Start; Institutional Buying Stays Strong
omestic Institutional Investors (DIIs) continued to show consistent interest, marking their 16th straight session of net buying in Indian markets. On June 10, Foreign Institutional Investors (FIIs) made net purchases worth Rs 2,301.87 crore, while DIIs bought shares valued at Rs 1,113.34 crore.
Pre-Market Update at 8:00 AM: Indian equity markets are expected to open higher on Wednesday, June 11. At 7:31 AM, GIFT Nifty hovered near 25,185, indicating a gain of 40 points from its previous close. Asian equities were trading in the green, while U.S. futures held firm during early Asia hours, as investors awaited updates on trade negotiations and the U.S. inflation data for May.
Domestic Institutional Investors (DIIs) continued to show consistent interest, marking their 16th straight session of net buying in Indian markets. On June 10, Foreign Institutional Investors (FIIs) made net purchases worth Rs 2,301.87 crore, while DIIs bought shares valued at Rs 1,113.34 crore.
On Tuesday, broader markets outperformed. The Mid-Cap and Small-Cap segments extended gains, whereas headline indices moved in a narrow range. The Nifty 50 ended marginally higher, but the BSE Sensex closed down by 53 points at 82,391. Bank Nifty also slipped 210 points, ending at 56,629.
Asian indices are expected to start on a strong footing, following Wall Street’s gains. Optimism around the U.S.-China trade dialogue helped fuel positive sentiment. U.S. Commerce Secretary Howard Lutnick stated that the trade talks were moving forward “really, really well.”
U.S. markets closed higher on Tuesday, supported by gains in Tesla and improved sentiment around trade relations. The Dow rose 0.25 per cent to 42,866.87, the S&P 500 gained 0.55 per cent to close at 6,038.0, and the Nasdaq climbed 0.66 per cent to 21,941.92. Reports from London suggested renewed tensions, but progress was evident as China approved some rare earth exports and resumed Boeing deliveries.
The U.S. dollar remained firm against global currencies, buoyed by positive developments in the U.S.-China trade deal. Early Asian trading saw a slight dip in the greenback after earlier strength.
Gold edged lower on Tuesday as optimism about global trade reduced demand for safe-haven assets. A stronger dollar also weighed on prices. Spot gold was down 0.1 per cent at USD 3,324.55 per ounce, while U.S. gold futures settled 0.3 per cent lower at USD 3,343.40.
Crude prices eased in early Wednesday trading. Uncertainty over China's demand and rising supply from OPEC+ contributed to the weakness. Brent crude slipped 24 cents to USD 66.63 a barrel, while WTI fell 21 cents to USD 64.77.
For today, Chambal Fertilisers, Titagarh Rail Systems, Manappuram Finance and Aditya Birla Fashion Retail continue to remain under the F&O ban list.
Disclaimer: The article is for informational purposes only and not investment advice.