Positive signals from global markets suggest a bullish opening for the Indian stock market today. GIFT Nifty is up, and Asian markets are also showing strength.
Stock Market: Given the positive global cues on Thursday, a b opening is anticipated for the Indian stock market today. The strength witnessed in the US and Asian markets could positively influence domestic investor sentiment. A slight upward trend is likely for the Nifty and Sensex at the beginning of today's trading session.
GIFT Nifty Shows Slight Increase
At 7:40 AM on Friday, GIFT Nifty was trading at 24,430, up 11 points. This indicates a likely positive start for the Indian market today.
Positive Signals from US Markets
US stock markets closed bly on Thursday. The Nasdaq rose by 1.52% due to b performance by tech companies, while the S&P 500 gained 0.63% and the Dow Jones increased by 0.21%. The US 10-year bond yield rose to 4.23%, alongside indications of economic slowdown and inflation stabilization.
Positive Sentiment in Asian Markets
Asian stock markets are also exhibiting strength today. Japan's Nikkei index is up 1.10%, while the Asia Dow is up 0.72% and Australia's ASX 200 has gained 0.63%. South Korea's Kospi also saw a 0.11% increase. However, the Shanghai Composite is trading down 0.32%.
Q4 Results from Several Companies Expected Today
On May 2nd, a total of 37 companies are scheduled to announce their March quarter (Q4FY24) results. Prominent among these are City Union Bank, Godrej Properties, Indian Overseas Bank, Latent View Analytics, Parag Milk Foods, RR Kabel, PNB Gilts, and V-Mart Retail. These results will offer insights into sectoral trends and the overall market direction.
Market Performance on April 30th
The previous trading day, Wednesday, April 30th, saw a slight decline in the market. The BSE Sensex closed down 46 points at 80,242, while the NSE Nifty closed 2 points lower at 24,334. During this period, Foreign Institutional Investors (FII) bought shares worth ₹50.57 crore, while Domestic Institutional Investors (DII) purchased shares worth ₹1,792.15 crore.
