GIFT Nifty:

The GIFT Nifty September futures contract is down 33 points, suggesting a negative start for the Nifty 50.

Foreign portfolio investors (FPIs) sold shares worth Rs 688.69 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,970.74 crore in the Indian equity market on 5 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 3051.48 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Global Markets:

Asian stocks were mixed on Friday as investors shifted their focus to the upcoming U.S. payrolls report. The report is expected to shed light on the potential magnitude of a rate cut by the Federal Reserve later this month.

Overnight in the U.S., all three major indexes declined amid ongoing concerns about the economic outlook. The S&P 500 fell by 0.3%, extending its losing streak to three days, while the Dow Jones Industrial Average dropped 0.54%. However, the tech-heavy Nasdaq Composite managed a modest gain of 0.25%.

Adding to the economic uncertainty, ADP reported that private sector job growth in August was the weakest in over three and a half years. Companies hired only 99,000 workers, falling short of both the downwardly revised July figure and market expectations. This marked the weakest month for job growth since January 2021, according to data from the payrolls processing firm.

Domestic Market:

Domestic equity benchmarks closed slightly lower on Thursday, with the Nifty50 settling below 25,150 after reaching a high of 25,275.45. Volatility was heightened due to the expiry of weekly index options on the NSE. IT, media, and consumer durables stocks outperformed, while auto and oil & gas sectors faced selling pressure. Investor sentiment remained cautious ahead of a series of key US economic data releases, which could influence the Federal Reserve's decision on interest rate cuts. US nonfarm payrolls and the unemployment rate will release on Friday.

The S&P BSE Sensex declined 151.48 points or 0.18% to 82,201.16. The Nifty 50 index lost 53.60 points or 0.21% to 25,145.10.

Powered by Capital Market - Live News