Markets May Open Lower Amid Global Cues; DIIs Maintain Buying Momentum
In the institutional segment, Foreign Institutional Investors (FIIs) were net sellers on June 11, offloading equities worth Rs 446.31 crore. Domestic Institutional Investors (DIIs), however, remained strong buyers for the 17th consecutive session, purchasing stocks worth Rs 1,584.87 crore.
Pre-Market Update at 8:00 AM: Indian equity indices are expected to open on a cautious note today, Thursday, June 12, with early indicators pointing to a soft start. As of 7:18 AM, the GIFT Nifty was trading around 25,167, showing a decline of 34 points from its previous close.
Asian markets showed mixed trends as investors evaluated the progress of U.S.-China trade developments. Meanwhile, Wall Street closed lower overnight following the latest U.S. inflation data and ongoing geopolitical tensions.
In the institutional segment, Foreign Institutional Investors (FIIs) were net sellers on June 11, offloading equities worth Rs 446.31 crore. Domestic Institutional Investors (DIIs), however, remained strong buyers for the 17th consecutive session, purchasing stocks worth Rs 1,584.87 crore.
On June 11, Indian markets ended slightly positive. The Nifty 50 managed to stay above the 25,100 mark, closing at 25,141.40 with a gain of 37.15 points or 0.15 per cent. The Sensex also edged up by 123.42 points, ending the session at 82,515.14. Market volatility eased further, with the India VIX falling to 13.66.
Asian equities traded in a mixed range as investors weighed the U.S.-China trade outlook. In the U.S., major indices ended lower due to rising tensions in the Middle East and uncertainty over trade negotiations. The Dow Jones remained nearly flat at 42,865.77. The S&P 500 dipped 0.27 per cent to close at 6,022.24, and the Nasdaq dropped 0.50 per cent to end at 19,615.88.
U.S. inflation data showed a minor uptick, with the Consumer Price Index (CPI) rising 0.1 per cent in May, following a 0.2 per cent increase in April. On a yearly basis, CPI grew 2.4 per cent, slightly up from 2.3 per cent.
In a significant global development, U.S. President Donald Trump confirmed a finalised trade agreement with China. The deal includes revised tariff rates: 55 per cent on U.S. imports and 10 per cent on Chinese exports.
Investors turned to gold amid geopolitical risks and lower inflation data. Spot gold increased 0.3 per cent to USD 3,364.10 per ounce, while U.S. gold futures rose 1.2 per cent to USD 3,384.40.
Oil prices surged, reaching a two-month high on Middle East conflict concerns. Brent crude edged up 0.1 per cent to USD 69.84, and WTI climbed 0.16 per cent to USD 68.26. Both benchmarks gained over 4 per cent in the previous session.
The dollar weakened on growing expectations of a rate cut by the Federal Reserve. The index slipped to 98.327, its lowest level since April 22.
For today, Manappuram, ABFRL, CDSL, IEX, Chambal Fertilisers, IREDA, RBL Bank and Titagarh continue to remain under the F&O ban list.
Disclaimer: The article is for informational purposes only and not investment advice.