Nifty, Sensex to Open Higher; Gold Hits Record High
DSIJ Intelligence-2Categories: Mkt Commentary, Trending
On Wednesday, September 10, the Indian equity markets are expected to open in green, tracking positive global cues. As of 7:16 AM, the GIFT Nifty was trading near 25,003, up 52 points.
Pre-Market Update at 7:45 AM: On Wednesday, September 10, the Indian equity markets are expected to open in green, tracking positive global cues. As of 7:16 AM, the GIFT Nifty was trading near 25,003, up 52 points.
On Tuesday, September 9, Foreign Institutional Investors (FIIs) turned net buyers, purchasing equities worth Rs 2,050.46 crore, ending an 11-day selling streak. Domestic Institutional Investors (DIIs) were also buyers, adding Rs 83.08 crore worth of shares. DIIs have now been net buyers for 11 consecutive trading sessions, providing consistent support to the market.
Equity benchmark indices extended gains for the fifth straight session, led by information technology stocks after Infosys announced a share buyback plan. The Nifty 50 rose 0.39 per cent to close at 24,868.60, while the BSE Sensex gained 0.39 per cent to settle at 81,101.32. Bank Nifty moved up to 54,216.10. Sector-wise, IT, FMCG, and pharma stocks supported the rally, while Realty and Oil & Gas witnessed selling pressure. Mid-Cap and Small-Cap indices also posted marginal gains, reflecting broader participation across segments.
Wall Street closed on a strong note with all three major indices scaling fresh record highs. The S&P 500 rose 0.27 per cent to 6,512.61, the Nasdaq advanced 0.37 per cent to 21,879.49, and the Dow Jones gained 0.43 per cent to 45,711.34. Investor sentiment was supported by optimism around artificial intelligence and expectations of a Federal Reserve rate cut, with CME’s FedWatch tool showing a nearly 10 per cent probability of a 50-basis point cut. US President Donald Trump also stated that India and the US are continuing negotiations on trade barriers and expressed optimism about reaching a successful conclusion soon.
Brent crude oil futures traded near USD 67 per barrel, while WTI crude rose above USD 63 per barrel amid concerns of supply disruptions in the Middle East. The dollar index strengthened 0.43 per cent to 97.81 against a basket of major currencies.
Gold prices soared to fresh records in both domestic and global markets. On MCX, December gold futures rose Rs 723 (0.65 per cent) to an all-time high of Rs 1,10,312 per 10 grams. October contracts also gained Rs 982 (0.9 per cent) to Rs 1,09,500 per 10 grams. Globally, December Comex gold futures touched USD 3,715.2 per ounce, while spot gold climbed to USD 3,674.78 per ounce. Strong international cues and safe-haven demand drove this sharp rally.
For today, RBL Bank will remain on the F&O ban list.
Disclaimer: The article is for informational purposes only and not investment advice.