GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a lower opening on Thursday. Here is all you need to know before the market opens. GIFT Nifty was down 45 points, or 0.18%, at 25,014 indicating a negative start for the domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 closed 35 points or 0.14% higher to settle at 25,052, while the BSE Sensex rose 74 points or 0.09% to finish at 81,786. Key things to know before share market opens on August 29, 2024 Wall Street US markets closed on a lower note on Wednesday after Nvidia’s latest earnings results. The Dow Jones Industrial Average index lost 159 points or 0.39%, to end at 41,091.42. The broader market index, the S&P 500, closed 0.6% lower at 5,592.18. Similarly, the tech-heavy Nasdaq Composite fell 1.12% to settle at 17,556.03. US Dollar The US Dollar Index (DXY), which measures the dollar's value against a basket of six foreign currencies, was trading up 0.08% at 100.95 on Thursday morning. Also ReadStock Market Live: GIFT Nifty indicates lower start for benchmark indices on Thursday; Global indices down Crude Oil WTI crude prices were trading at $74.70 up by 0.25%, while Brent crude prices were trading at $78.77 up by 0.15%, on Thursday morning. Asian Markets Tracking the overnight fall in the US markets, the Asian markets were trading on a lower note on Thursday morning. Japan’s Nikkei 225 was down 0.40% to 38,218.27. The Korean index Kospi was down 0.78% at 2,668.90. However, the Asia Dow was trading 0.30% higher at 3,557.38. The benchmark Chinese index Shanghai Composite was flat at 2,837.40. FII, DII Data Foreign institutional investors (FII) sold shares net worth Rs 1,347.53 crore. Meanwhile, domestic institutional investors (DII) sold shares net worth Rs 439.35 crore on August 29, 2024, according to the provisional data available on the NSE. F&O Ban Bandhan Bank, Granules India, Hindustan Copper, and India Cements to remain in the F&O Ban today on August 29. Expert’s View “Currently, we observe a balancing act, as the ongoing underperformance of major banking stocks weighs on market sentiment, while the strength in select heavyweights from IT, FMCG, metals, and energy on a rotational basis helps maintain a positive tone. The outlook suggests further consolidation in the index, but the bias remains positive. Traders should continue to focus on stock selection,” said Ajit Mishra, Senior Vice President of Research at Religare Broking. Bank Nifty Outlook “The Bank Nifty has been underperforming on the back of subdued price action in the key heavyweights of the index. In terms of levels, 50950 – 50850 shall act as a crucial support zone while 51500 – 51600 is the immediate hurdle zone,” said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.
