Gift Nifty indicates a dull opening for Sensex

by Psu Connect
Date: 18-12-23

Gift Nifty traded flat at 21,474, indicating a obscure opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 jumped 273.95 points or 1.29 percent to settle at 21,456.65, while the BSE Sensex soared 969.54 points or 1.37 percent to 71,483.75 .

Gift Nifty indicates a dull opening for Sensex

The Indian stock market indices, Sensex and Nifty 50 are expected to open lower amid marking its seventh consecutive weekly gain on December 15. The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 21,482 level as compared to the Nifty futures' previous close of 21,558.

On Friday, the domestic equity indices continued their bull run to end sharply higher, with the Nifty 50 index closing above the 21,450 level. According to Nifty 50 Predictions: The Nifty's upward momentum persists with the bulls maintaining control in the market. The Nifty 50 index marked its seventh consecutive weekly gain on December 15 and achieved a new all-time high.

The Bank Nifty breached the 48,000 mark for the first time and rallied 411 points to end at 48,144 on December 15. The Bank Nifty bulls maintain their robust momentum, pushing the index beyond the 48,000 level. The overall market sentiment remains bullish, supported by a strong base at 47,500. Any retracements towards this support level are seen as buying opportunities. The upside potential for the index is projected to reach 50,000, indicating continued optimism among market participants.

KEY GLOBAL MARKET CUES FOR SENSEX TODAY:

Asian markets traded lower on Monday after Wall Street indices ended a six-day rally, while investors to watch out for key economic data from the region this week.

Japan's Nikkei 225 declined 0.77 percent and the Topix fell 0.8 percent. South Korea's Kospi dropped, while the Kosdaq gained 0.82 percent at open. Hong Kong's Hang Seng index futures pointed to a weaker open. Australia's S&P/ASX200 fell 0.18 percent.

The Dow Jones Industrial Average gained 56.81 points, or 0.15 percent, to 37,305.16, while the S&P 500 eased 0.36 percent, or 0.01 percent, to 4,719.19. The Nasdaq Composite ended 52.36 points, or 0.35 percent, higher at 14,813.92.