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Stock Market LIVE: GIFT Nifty indicates a negative start for domestic indices BSE Sensex and NSE Nifty 50

Wednesday, June 12, 2024 | June 12, 2024 WIB
Stock Market LIVE: GIFT Nifty indicates a negative start for domestic indices BSE Sensex and NSE Nifty 50
Stock market today: There is a possibility of a dip in the Indian stock market, say experts.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: GIFT Nifty traded down by 89.50 points or 0.38% at 23,259.50 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Shares in the Asia-Pacific region are trading in negative territory on Wednesday morning. The Asia Dow is trading down by 1.09%, where as the Japan's Nikkei 225 is trading in red, down by 0.68%, Hong Kong's Hang Seng index is ended lower by 1.04% and the benchmark Chinese index Shanghai Composite traded down by 0.76%.

Early Signals Subdued for Indian Equities

The negative trend in Asian markets is likely to weigh on the domestic indices as well. The GIFT Nifty, the early indicator of the Nifty 50 index, traded 89.50 points lower at 23,259.50, hinting at a tepid start for the Indian share markets.

Global Market Sentiment Remains Risk-Off

The risk-off sentiment in global markets can be attributed to renewed concerns over economic growth and the potential impact of tightening monetary policies by central banks worldwide. Investors are closely monitoring the upcoming policy meetings of various central banks, including the Federal Reserve, for cues on future interest rate hikes.

Sectoral Trends to Watch

While the overall market sentiment may be subdued, investors will be keeping an eye on sector-specific trends and stock-specific developments. sectors such as IT, pharmaceuticals, and consumer goods may offer some resilience, while cyclical sectors like banking and industrials could face headwinds.

Corporate Earnings to Drive Stock-Specific Movements

As the quarterly earnings season progresses, stock-specific movements are expected based on the financial performance and future guidance provided by companies. Investors will scrutinize the earnings reports and management commentary to gauge the impact of macroeconomic factors on individual businesses.

In conclusion, the negative start indicated by the GIFT Nifty reflects the cautious sentiment prevailing in global markets. However, domestic indices may find support from sector-specific trends and stock-specific factors as the trading session progresses.
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