Pre Session Commentary

Indices may open on lacklustre note
(24-Nov-2023, 08:23 Hours IST)  

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 11 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed as investors assess key economic data out from Japan on Friday. The world?s third largest economy saw its core inflation rate rise to 2.9% in October, higher than the 2.8% seen in September. The headline inflation rate for October came in at 3.3%, accelerating from the 3% seen in from the month before.

US stocks were closed for Thanksgiving on Thursday, and will come back for a half day of trading on Friday.

The influential oil group reuniting the Organization of the Petroleum Exporting Countries and its allies will hold a virtual meeting to decide crude production strategy on November 30, the OPEC Secretariat said. The group, collectively known as OPEC+, was supposed to convene in person in Vienna over November 25-26 but has since postponed its meeting amid inter-member disgruntlement.

Domestic markets:

Back home, domestic equity benchmarks ended with minor losses on Thursday. The barometer index, the S&P BSE Sensex declined 5.43 points or 0.01% to 66,017.81. The Nifty 50 index lost 9.85 points or 0.05% to 19,802.

Foreign portfolio investors (FPIs) bought shares worth Rs 255.53 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 457.39 crore in the Indian equity market on 23 November, provisional data showed.

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