Sensex and Nifty are expected to open higher on positive global cues

Positive Global Trends Signal Higher Opening for Sensex, Nifty

Written by: Supriya Kadu

Edited by: Omkar Devadkar

Last Updated: August 22, 2024

Summary: With Hong Kong's Hang Seng up 0.67%, Australia's S&P ASX 200 up 0.24%, and Japan's Nikkei up 1.11%, the majority of Asian markets were trading higher.

The Gift Nifty futures traded at Gandhinagar suggest that the Indian market indices are expected to open higher. Gift Nifty futures increased 0.28 percent, or 69 points, to 24,885, signaling a break above the critical 24,800 psychological milestone.

The Nikkei in Japan increased by 1.1%, the S&P ASX 200 in Australia by 0.24 percent, the KOSPI in South Korea by 0.13 percent, and the Hang Seng in Hong Kong by 0.67 percent, as the majority of Asian markets saw upward trade.

The FOMC minutes from the most recent meeting showed a solid case for a rate drop at the upcoming US Federal Reserve meeting in September, which led to overnight gains in US markets.

The tech-heavy Nasdaq increased by 0.57 percent, the Dow Jones gained 0.14 percent, and the S&P 500 scaled 0.42 percent.

According to statistics from stock exchanges, on Wednesday, institutional foreign investors sold stocks worth Rs 800 crore while domestic institutional investors purchased stocks worth Rs 3,097 crore.

Investors will be keeping an eye on Paytm and Zomato's shares because Zomato plans to buy Paytm's entertainment ticketing division.

Paytm has since disclosed that it has lowered the salary levels of its independent non-executive directors.

The focus will be on IREDA and Zen Technologies, as they both intend to raise money through QIP and FPO, respectively.

On the first day of subscription, the Orient Technologies IPO was fully booked in the IPO space.

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