Stories
Indian Markets Expected to Open Higher as GIFT Nifty and Asian Equities Gain
- •Indian benchmark indices are likely to open higher, tracking a positive GIFT Nifty trading up by 85 points.
- •Asian equities rose as dip buyers stepped in following a recent chip-stock selloff driven by artificial intelligence concerns.
- •US equities ended higher on Thursday, with the S&P 500 and Dow Jones registering gains as investors shifted towards healthcare and consumer stocks.
- •Foreign institutional investors offloaded equities worth Rs 5,285 crore, while domestic institutional investors bought equities worth Rs 3,319 crore.
- •Crude oil prices edged down due to weighed Middle East risks and potential US steps regarding shadow tankers.
Key Questions Answered
Indian equity benchmarks rallied 1.5 percent each on Thursday, driven by strong buying in auto, IT, private banks, and Reliance Industries following the Jio Platforms IPO announcement. The Sensex closed up 1,533.72 points at 74,315.61, while the Nifty climbed 374.65 points to close at 22,997.35.
Foreign institutional investors (FIIs) continued their selling spree by offloading equities worth approximately Rs 5,285 crore on October 15. Meanwhile, domestic institutional investors (DIIs) provided market support by purchasing equities worth Rs 3,319 crore during the session.
Asian equities rose as dip buyers stepped in following a chip-stock selloff, with MSCI Inc.'s Asia Pacific equities gauge climbing 1%. South Korea’s Kospi Index rose almost 3% after rebounding from a slump to its lowest level since April, helped by gains in Samsung Electronics and SK Hynix.
