Asian Paints

2492.8 -9.80

Cipla

1554 5.70

Eicher Motors

6857.5 56.50

Nestle India

1207.9 -4.60

Grasim Inds

2816.4 14.00

Hero Motocorp

5331 42.50

Hindalco Inds.

753.9 0.25

Hind. Unilever

2581.9 0.90

ITC

413.95 1.30

Trent

5141.5 8.50

Larsen & Toubro

3620.5 34.30

M & M

3571 40.70

Reliance Industr

1403.8 4.50

Tata Consumer

1101.4 -1.20

Tata Motors

718.75 5.85

Tata Steel

170.03 0.80

Wipro

251.7 0.42

Apollo Hospitals

7832 15.50

Dr Reddy's Labs

1305.4 4.60

Titan Company

3524.2 -9.90

SBI

826.2 1.45

Shriram Finance

624.35 0.70

Bharat Electron

400.5 2.05

Kotak Mah. Bank

1995.7 24.90

Infosys

1510.2 1.80

Bajaj Finance

1009.85 0.00

Adani Enterp.

2400.7 17.30

Sun Pharma.Inds.

1605 3.00

JSW Steel

1111.1 10.20

HDFC Bank

968.05 1.00

TCS

3126.8 14.90

ICICI Bank

1422.9 3.50

Power Grid Corpn

289.45 3.20

Maruti Suzuki

15365 100.00

IndusInd Bank

742.5 2.60

Axis Bank

1119.9 15.50

HCL Technologies

1471.8 5.30

O N G C

234.13 1.87

NTPC

335.25 4.15

Coal India

396.55 1.80

Bharti Airtel

1912.4 7.90

Tech Mahindra

1526 6.20

Adani Ports

1411 15.80

HDFC Life Insur.

777.3 0.10

SBI Life Insuran

1821.8 -0.40

UltraTech Cem.

12523 88.00

Bajaj Auto

9069.5 44.50

Bajaj Finserv

2099 19.00

Eternal Ltd

323.45 0.15

Pre-Session - Detailed News Back
Shares may rebound as selloff takes breather
05-Sep-24   08:35 Hrs IST

GIFT Nifty:

The GIFT Nifty September futures contract is up 10 points, suggesting a positive start for the Nifty 50.

Foreign portfolio investors (FPIs) bought shares worth Rs 975.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 97.35 crore in the Indian equity market on 4 September 2024, provisional data showed.

FPIs have bought shares worth over Rs 3740.17 crore in September 2024 (so far). They sold shares worth 21368.51 crore in August 2024.

Global Markets:

The Dow Jones index futures were down 12 points, indicating a negative opening in the US stocks today.

Asian markets rebounded from Wednesday's decline as global bond yields retreated. A weaker-than-expected US job market report fueled speculation that the Federal Reserve might implement a more aggressive rate cut in September. While Japan's equity benchmark continued to falter, the yen strengthened and the dollar weakened, suggesting expectations for significant rate cuts.

The US job openings data for July, at 7.67 million, fell below estimates. This marked the lowest level since early 2021, indicating a potential challenge in achieving a soft landing for the world's largest economy. Market participants will closely monitor the upcoming August economic report on Friday, which could further influence the magnitude of rate cuts.

China's economic difficulties intensified as JPMorgan strategists downgraded the country's stock outlook. Citing a challenging economic landscape and heightened volatility surrounding the US election, they lowered their rating from overweight to neutral. In an attempt to stimulate the property market and broader economy, China is considering interest rate cuts on a significant portion of its mortgage debt.

A notable development saw India surpass China as the largest weighting in the MSCI EM investable market index (IMI).

US stock markets experienced a mixed start to September. The S&P 500 and Nasdaq Composite declined for a second consecutive day Wednesday, while the Dow Jones Industrial Average gained slightly. A temporary return to a normal yield curve provided some support to US stocks, easing recession concerns that had previously plagued investors.

Domestic Market:

The domestic equity benchmarks ended with minor losses on Wednesday. The Nifty snapped its 14-day winning streak and settled a tad below the 25,200 level. Global market jitters over a potential US economic slowdown and anticipation of key economic data weighed on sentiment. Despite early losses, selective buying in large-cap stocks helped limit the decline. Healthcare and pharma sectors outperformed, while IT and PSU banks faced selling pressure.

The S&P BSE Sensex slipped 202.80 points or 0.25% to 82,352.64. The Nifty 50 index declined 81.15 points or 0.32% to 25,198.70. The 50-unit index had risen 4.73% in the past 14 consecutive sessions.

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