GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a lower opening on Wednesday. Here is all you need to know before the market opens. GIFT Nifty was down 12 points, or 0.05%, at 24,991 indicating a negative start for the domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 closed 7 points or 0.03% higher to settle at 25,018, while the BSE Sensex rose 14 points or 0.02% to finish at 81,712. Key things to know before share market opens on August 28, 2024 Wall Street US markets closed on a slightly positive note on Tuesday. The Dow Jones Industrial Average index added 10 points or 0.02%, to end at 41,250.50. The broader market index, the S&P 500, closed 0.16% higher at 5,625.80. Similarly, the tech-heavy Nasdaq Composite rose 0.16% to settle at 17,754.82. US Dollar The US Dollar Index (DXY), which measures the dollar's value against a basket of six foreign currencies, was trading up 0.03% at 100.62 on Wednesday morning. Crude Oil WTI crude prices were trading at $75.92 down by 0.51%, while Brent crude prices were trading at $79.90 down by 0.45%, on Wednesday morning. Also ReadStock Market Live: GIFT Nifty indicates subdued start for benchmark indices on Wednesday; Global indices mixed Asian Markets The Asian markets were majorly trading on a lower note on Wednesday morning. Japan’s Nikkei 225 was down 0.13% to 38,238.25. The Korean index Kospi was down 0.37% at 2,679.17. However, the Asia Dow was trading 0.05% higher at 3,546.04. The benchmark Chinese index Shanghai Composite was flat at 2,848.73. FII, DII Data Foreign institutional investors (FII) bought shares net worth Rs 1,503.76 crore. Meanwhile, domestic institutional investors (DII) sold shares net worth Rs 604.08 crore on August 27, 2024, according to the provisional data available on the NSE. F&O Ban Hindustan Copper, Balrampur Chini Mills, Birlasoft, and India Cements to remain in the F&O Ban today on August 28. Expert’s View “Markets are optimistic about the US Fed policy rate cut following Jerome Powell's supportive comments and the Federal Reserve’s confidence in achieving its 2% inflation target. Further buying by FIIs over the last three days added to the sentiments. We expect this up-move to continue with Nifty likely headed towards new highs in the near term supported by the broader market and stock-specific action,” said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services. Bank Nifty Outlook On Tuesday, “the Bank Nifty surpassed the previous day's high however it is unable to sustain and thus there can be more consolidation before it resumes a decisive move on the upside. 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.
