Stories
GIFT Nifty Signals Cautious Start For Sensex And Nifty Amid Global Tech Selloff
- •GIFT Nifty hints at a flat-to-positive opening for Sensex and Nifty following Asian market weakness and a sharp selloff in US tech stocks.
- •Foreign institutional investors turned net buyers of equities worth Rs 1,166 crore after a long selling streak.
- •Asian equities traded lower due to mounting concerns over enormous funding requirements for artificial intelligence investments.
- •Brent crude retreated from a five-month high but stayed above $108 a barrel amid ongoing geopolitical tensions.
- •Analysts warn that persistently elevated oil prices and geopolitical risks will continue to drive market volatility.
Key Questions Answered
The GIFT Nifty signaled a flat-to-positive start for Indian benchmark indices Sensex and Nifty. This followed two consecutive sessions of gains, though broader sentiment was weighed down by regional Asian weakness and US technology selloffs.
Foreign institutional investors turned net buyers by purchasing equities worth around Rs 1,166 crore, halting a 15-session selling streak. Conversely, domestic institutions snapped their 45-session buying streak by selling shares worth Rs 3,661 crore.
Crude oil prices declined from a five-month high as traders weighed Middle East hostilities against regional supplies holding near pre-war levels. Brent crude fell 1.5 percent to $108.27 a barrel, while West Texas Intermediate declined 0.6 percent to $100.83 a barrel.
