Market for Shares
The GIFT Nifty patterns point to a promising start for the Indian index as a whole.
On May 16, it is anticipated that the benchmark Sensex and Nifty indexes will open higher, based on GIFT Nifty trends that show a gain of 123 points for the overall index.
Indian markets ended May 15th with a slight decline; the Sensex lost 118 points, and the Nifty maintained its 22,200 mark. BSE MidCap and Smallcap, two larger markets, increased by 0.6 and 1 percent, respectively.
GIFT Nifty
In April, Kotak Mahindra Bank witnessed MFs purchase shares valued at Rs 8,100 crore. In April, Kotak Mahindra Bank witnessed MFs purchase shares valued at Rs 8,100 crore.
GIFT Nifty indicators point to a positive start for the Indian market as a whole, up 123 points or 0.55 percent. Currently, Nifty futures are trading close to the 22,383 mark.
Asian marketplaces
Following Wall Street’s advances, which were bolstered by good US inflation data and raised prospects of a Federal Reserve rate drop, Asian equities climbed. Shares of South Korea, Japan, and Australia surged, and futures for the S&P 500 and Nasdaq 100 also increased. Following the holiday, trading in Hong Kong shares will resume. After yields declined across the curve, Australian and New Zealand government bonds increased, but US Treasuries stayed unchanged. Investors revised their expectations for rate reduction, resulting in a 10 basis point decline in the US 10-year rate and a 9 basis point decline in the two-year yield. The swaps market is now pricing in two cuts this year rather than just one.
US Exchanges
As bond yields declined in response to reports of weaker inflation, Wall Street reached all-time highs and expectations for Fed rate reduction by September increased. Following a six-month lull in consumer prices, the S&P 500 set a new high for 2024. Treasury rates increased while the VIX fear index fell to record lows in January. Fed swaps currently point to a faster rate of policy easing. A decreased trend in inflation is shown by the data, which may open the door to rate reduction. Data on retail sales suggested that consumer demand, which drives the economy, may be somewhat slowing.
Gold
Gold continued to rise for a third day as signs of a September rate decrease were suggested by the US inflation slowdown. In Singapore, bullion increased by 0.3 percent to $2,393.91 an ounce, hitting a four-week high that hasn’t been seen since April 19. There were also gains in palladium, platinum, and silver.
Asian money
The value of Asian currencies relative to the US dollar was increasing. The value of the South Korean won increased by 0.71%, the Japanese yen by 0.68%, the Malaysian ringgit by 0.5%, the Indonesian rupiah by 0.44 percent, the Philippines peso by 0.37 percent, the Thai Baht by 0.23 percent, the Taiwan dollar by 0.21 percent, the China yuan by 0.2 percent, and the Singapore dollar by 0.18 percent.
Dollar Index
The US dollar index, which gauges how strong the greenback is relative to other major currencies, was down 0.25 percent from its previous closing of 104.34 to 104.087.
Unrefined
At $83.17 per barrel, Brent crude futures were up 42 cents, or 0.5 percent. West Texas Intermediate (WTI) oil futures in the United States increased by 42 cents, or 0.53 percent, to $79.05 per barrel.
LME item
All LME commodity prices increased: LME Copper climbed by 1%, LME Nickel gained 2.2%, and LME Aluminum jumped 1.86 percent. LME Zinc witnessed a 1 percent fall, while LME Lead and Tin both saw slight increases of 0.3 percent.
The Flow of FII and DII
For a total of Rs 2,832.83 crore, FIIs sold shares. May 15 saw the injection of Rs 3,788.38 crore worth of equities by DIIs.