GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Friday. Here is all you need to know before the market opens.
GIFT Nifty trading up 105.50 points or 0.48% at 21,955.50 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 gained 64.55 points or 0.30% to settle at 21,782.50, while the BSE Sensex closed 167.06 points or 0.23% higher at 71,595.49.
Key things to know before share market opens on February 12, 2024
Wall Street
The three major US benchmark indices closed on a mixed note. The 30-stock Dow Industrial Average closed 54.64 points, or 0.14% lower at 38,671.69. The S&P 500 gained 0.57% to 5,026.61. The tech-heavy Nasdaq Composite jumped 1.25% at 15,990.66.
US Dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded flat, 0.02% at 104.01.
Crude Oil
WTI crude prices are trading at $76.46 down by 0.51%, while Brent crude prices are trading at $81.77 down by 0.51%, on Monday morning.
Asian Markets
Shares in the Asia-Pacific region were trading on a mixed note. The Asia Dow was trading down by 0.11%. Japan’s Nikkei 225 was trading up by 0.09%. While Hong Kong’s Hang Seng index was trading lower by 0.83%. The benchmark Chinese index Shanghai Composite was trading higher by 1.28% during the early trade hours.
FII, DII Data
Foreign institutional investors (FII) bought shares worth net Rs 141.95 crore. While, domestic institutional investors (DII) sold shares worth net Rs 421.87 crore on February 12, 2024, according to the provisional data available on the NSE.
F&O Ban
Ashok Leyland, Auropharma, Balrampur Chini Mills, Biocon, Delta Corp, Hindustan Copper, India Cements, Indus Tower, PNB, SAIL, UPL, Zee Entertainment Enterprise.
Technical View
Commenting on the technical outlook Jatin Gedia, a technical research analyst at Sharekhan by BNP Paribas, said that on the upside, the Nifty can rise towards 21807 – 21830 where the key hourly moving averages are placed. Overall, the sideways price action is likely to continue. The range of consolidation is likely to be 21600 – 22050. The broader market witnessed a sharp correction though. On Friday, the Midcap Index was down 1% and the Small Cap Index was down 1.4%. Thus, the action could shift to the frontline while the midcap and smallcap enter a consolidation phase.
Bank Nifty Outlook
Bank Nifty was the lead performer in Friday’s trading session. It closed with handsome gains. The fall witnessed in the previous trading session did not continue on Friday and Bank Nifty reversed sharply from the 45000 level. The pullback can continue towards 46000 – 46200 where the key daily moving averages are placed, said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.
