Nifty, Sensex May Extend Gains Amid Global Market Optimism
On June 9, both Foreign and Domestic Institutional Investors remained net buyers in the Indian market. FIIs purchased equities worth Rs 1,992.87 crore, while DIIs bought stocks worth Rs 3,503.79 crore.
Pre-Market Update at 8:00 AM: Indian equity benchmarks are set for a firm start on Tuesday, June 10, supported by favourable cues from global markets. As of 7:27 AM, the GIFT Nifty hovered around 25,247, reflecting a gain of 66 points from its previous close.
Asian markets are trading in the green, buoyed by investor optimism ahead of the US-China trade discussions. Overnight, US indices ended on a stable note, with market participants remaining cautious as trade negotiations between the two economic powers continued.
On June 9, both Foreign and Domestic Institutional Investors remained net buyers in the Indian market. FIIs purchased equities worth Rs 1,992.87 crore, while DIIs bought stocks worth Rs 3,503.79 crore. Notably, DIIs have maintained their buying streak for 15 straight sessions.
On Monday, Indian markets gained for the fourth session in a row, driven by broad-based buying and positive sentiment from overseas. The Sensex gained 256.22 points, closing at 82,445.21, and the Nifty 50 ended at 25,103.20, up 100.15 points.
Asian indices opened higher on Tuesday as investors closely watched developments in the US-China trade talks. Meanwhile, Wall Street posted minor gains on Monday. The Dow Jones remained flat at 42,761.76. The S&P 500 edged up 0.09 per cent to 6,005.88, and the Nasdaq rose 0.31 per cent, ending at 19,591.24.
Top officials from the US and China are holding further discussions in London, focusing on export controls and trade friction. The talks began on Monday and are being held at Lancaster House. US President Donald Trump expressed confidence, calling the negotiations “encouraging.”
The dollar index weakened by 0.2 per cent to 98.942 against major currencies. Gold prices stayed mostly stable, with spot gold down 0.2 per cent at Rs 97,280 per 10 grams and domestic futures up 0.17 per cent at Rs 97,173.
Crude oil prices saw modest gains amid hopes of progress in the US-China dialogue. Brent crude rose to USD 67.13 per barrel, while WTI crude advanced to USD 65.40, touching its highest level since early April.
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.