GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Thursday. Here is all you need to know before the market opens.
GIFT Nifty was 12.50 points or 0.06% lower at 22,141.00 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Tuesday, the NSE Nifty 50 fell 124.60 points or 0.56% to finish at 22,147.90, while the BSE Sensex slumped 456.10 points or 0.62% to finish at 72,943.68.
Key things to know before share market opens on April 18, 2024
Wall Street
The Wall Street or US market fell for the fourth straight trading session on the comments of Fed Chair Jerome Powell. The S&P 500 was down 29.20 points or 0.58% at 5,022.21. While the Dow Jones Industrial Average finished trading down 45.66 points or 0.12% at 37,753.31. The tech-heavy index Nasdaq Composite fell 181.88 points or 1.15% to settle at 15,683.37.
US Dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded higher, 0.04% at 105.92.
Crude Oil
WTI crude prices were trading at $82.73 up by 0.02%, while Brent crude prices were trading at $87.47 up by 0.02%, on Thursday morning.
Asian Markets
Asian markets were trading mixed following the US market’s overnight losses. Japan’s Nikkei 225 was down 0.34% at 37,833.75. The benchmark Chinese index Shanghai Composite was trading up 2.14% at 3,071.38. The Asia Dow was down 0.54% to 3,239.89. Hang Seng was marginally up 0.02% at 16,251.84.
FII, DII Data
Foreign institutional investors (FII) sold shares net worth Rs 4,468.09 crore. However, domestic institutional investors (DII) bought shares net worth Rs 2,040.38 crore on April 18, 2024, according to the provisional data available on the NSE.
F&O Ban
Balrampur Chini Mills, Bandhan Bank, GNFC, Hindustan Copper, Idea, Metropolis, National Aluminium, Piramal Enterprises, SAIL, and Zee Entertainment Enterprise were on the F&O ban list on April 18.
Technical View
On Tuesday, Nifty opened gap down and consolidated for most of the day. It witnessed a pullback during the last hour of trade which helped it to close off the intraday lows. “During the day it managed to close and hold above the 61.82% Fibonacci retracement level (22117) and now we expect a relief rally over the next few trading sessions. On the upside we expect the gap areas formed in the previous couple of trading sessions to be filled up which is likely to take the nifty towards 22420 – 22500. On the downside 22080 is the crucial support level to hold for the upmove to continue,” said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.
Bank Nifty Outlook
“Bank Nifty has managed to hold on to the 50% Fibonacci retracement level 47440 and witnessed a pullback during the last hour of trade. We expect the pullback to continue till 48000 – 48200 over the next few trading sessions. The crucial support level is placed at 47300,” said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.
Earning Today
Infosys, Bajaj Auto, HDFC Life Insurance Company, ICICI Securities, Network 18 Media & Investments, Mastek, TV18 Broadcast, Swaraj Engines, Accelya Solutions India, Oriental Hotels, Reliance Industrial Infrastructure, Eimco Elecon (India), RS Software (India), Shish Industries, Surana Solar, Advik Capital, Gujarat Hotels, and Sanathnagar Enterprises will be releasing its Q4 results on April 16.
