GIFT Nifty: GIFT Nifty futures is trading 10.50 points higher, indicating a flat-to-positive start for the Nifty 50. Foreign portfolio investors (FPIs) sold shares worth Rs 2,626.73 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 577.30 crore in the Indian equity market on 8 August 2024, provisional data showed. FPIs have sold shares worth over Rs 20,767.20 crore in August 2024 (so far). They bought shares worth 5407.83 crore in June 2024. Global Markets: Dow Jones Futures were up 29 points, indicating a bounce in the US stocks today. Asian shares rallied on Friday, buoyed by a strong Wall Street performance. Investor sentiment was lifted by China's release of July consumer price index data, which showed a modest increase and eased deflation concerns. The country's consumer prices rose 0.5% year-on-year last month. However, core CPI, excluding volatile food and energy items, cooled to 0.4% from 0.6% in June. U.S. stocks surged on Thursday after the Labor Department reported a larger-than-expected drop in initial jobless claims to 233,000 for the week ended August 3. The Dow Jones Industrial Average rose 1.76%, the S&P 500 gained 2.30% and the Nasdaq Composite added 2.87%. Domestic Market: Domestic stocks plunged on Thursday as the Reserve Bank of India (RBI) maintained its status quo on interest rates for the ninth consecutive time due to persistent food inflation. The benchmark Nifty50 index closed below the 24,150 level, despite touching a high of 24,340.50 during the afternoon session. Trading was volatile due to the expiry of weekly index options on the National Stock Exchange. The IT, metals, and energy sectors were particularly hard hit. The S&P BSE Sensex dropped 581.79 points or 0.73% to 78,886.22. The Nifty 50 index slipped 180.50 points or 0.74% to 24,117. Powered by Capital Market - Live News |