Slightly higher GIFT Nifty and weak Asian markets indicate a mixed start for Indian shares Friday morning.
Amid a lack of fresh triggers, activity is likely to remain stock specific, and investors might take some profits, cashing in recent gains.
Wall Street closed on a firm note overnight, with the major averages settling at new record highs despite coming off their best levels of the day.
The Dow ended with a gain of 0.7% at 39,781.37, the S&P 500 settled 0.3% up at 5,241.53 and the Nasdaq closed higher by 0.2% at 16,401.84.
Major European markets closed higher on Thursday, buoyed by dovish signals from central banks. The Bank of England held its rates, while the Swiss National Bank surprisingly cut interest rate by a quarter percentage point.
The FTSE 100 climbed 1.88%, the DAX ended 0.91% up, and CAC 40 settled with a gain of 0.22%. The pan European Stoxx 600 ended nearly 1% up.
Indian shares rose notably on Thursday as investors cheered the Fed’s dovish stance and signal on potential rate cuts in 2024.
Firm cues from global markets, a weaker dollar and falling bond yields underpinned investor sentiment after the U.S. Federal Reserve left interest rates unchanged for a fifth straight meeting and maintained its forecast for three rate cuts in 2024.
Investors also cheered domestic data showing that business activity in the country expanded at the fastest rate in eight months in March, keeping India on course as the fastest growing major economy.
The benchmark S&P BSE Sensex jumped 539.50 points, or 0.75%, to 72,641.19 while the broader NSE Nifty index settled 172.85 points, or 0.79%, higher at 22,011.95.
Market Analysis
Indian Shares Seen Opening On Mixed Note
2024-03-22 03:02:12
