The GIFT Nifty, which lost 44 points, or 0.20 percent, suggests that the Indian index as a whole is off to a bad start.
Given that the GIFT Nifty is showing signs of weakness and has lost 44 points thus far, the benchmark Sensex and Nifty indices are expected to open lower on March 27.
After a tumultuous session on March 26, the market snapped a three-day winning streak and finished negative, with the Nifty hanging around 22,000 due to selling in the media, banking, and IT sectors.
The Nifty was down 92.10 points, or 0.42 percent, at 22,004.70, and the Sensex was down 361.64 points, or 0.5 percent, at 72,470.30, at the closing.
The Dow and S&P 500 saw their third consecutive loss on Tuesday as US equities fell, giving up small gains late in the day as investors awaited economic data in a week shortened by holidays to determine the Federal Reserve’s policy course.
Markets in Asia
Early on Wednesday, Asian indices were rising, with the Nikkei and Straits Times rising by 0.7 percent apiece. For $235 million, private equity firm Olympus wants to sell almost 10% of Aster DM Healthcare.
From October to December, India’s current account deficit decreased to $10.5 billion.
In the third quarter of 2023–24, India’s current account deficit (CAD) decreased to $10.5 billion, as per data that the Reserve Bank of India (RBI) issued on March 26. The data indicates that from October to December, the CAD represented 1.2% of India’s GDP.
From July to September of 2023, the CAD amounted to $11.4 billion, or 1.3% of the GDP. The deficit for October through December of 2022 was $16.8 billion, or 2.0 percent of GDP.
One dollar
Tuesday saw a decline in the dollar as investors awaited further information on Federal Reserve policy. In contrast, the yen held stable following the statement made by Japan’s finance minister that he would not rule out taking steps to counteract the declining value of the Japanese yen.
Gold Rates
Buoyed by a declining US dollar, gold prices rose on Tuesday as investors awaited data that is scheduled for release later this week that will provide insight into underlying inflation patterns and help determine the Federal Reserve’s interest-rate policy.
Unrefined
Tuesday saw minimal movement in oil prices as traders viewed the loss of Russian refinery capacity in the wake of the recent events in Ukraine more cautiously, with some support coming from a slightly depreciating US currency.
Data from FII and DII
On March 26, provisional data from the NSE revealed that domestic institutional investors (DIIs) bought stocks worth Rs 5,024.36 crore, while foreign institutional investors (FIIs) net bought shares of Rs 10.13 crore.
NSE stock is prohibited from F&O
SAIL is still on the F&O ban list as of March 27 according to the NSE. Zee Entertainment Enterprises, Biocon, and Tata Chemicals were taken off the aforementioned list.