Market Update: Key Insights Before Opening on Jun 20, 2024

The global financial markets are gearing up for another day of trading, with Indian equity indices expected to open on a muted note. On Thursday, June 20, 2024, the BSE Sensex and NSE Nifty 50 are anticipated to see a flat opening, with GIFT Nifty trading at 23,518.50, up by just 4 points or 0.02 per cent.

Yesterday, NSE Nifty 50 dropped by 42 points or 0.18 per cent to close at 23,516, while BSE Sensex rose by 36 points or 0.05 per cent to finish at 77,338. As investors prepare for the market opening, here are some key things to watch:

US Markets: The US markets were closed on Wednesday for the Juneteenth holiday. However, on Tuesday, Wall Street hit record highs, driven by Nvidia’s strong performance.

Asian Markets: Asian markets opened with mixed performances on Thursday. Japan’s Nikkei 225 was down by 0.78 per cent, while South Korea’s Kospi was up by 0.24 per cent. Hong Kong’s Hang Seng Index rose significantly by 2.87 per cent.

Currency and Oil Prices: The US Dollar Index (DXY) was up by 0.03 per cent, while WTI crude oil prices were down by 0.63 per cent. Brent crude oil prices also slightly dropped by 0.02 per cent.

Institutional Investors: On June 19, 2024, foreign institutional investors (FII) bought shares worth Rs 7,908.36 crore, while domestic institutional investors (DII) purchased shares worth Rs 7,107.80 crore.

As the markets prepare to open, investors will be closely monitoring these key factors to gauge the direction of trading for the day. Stay tuned for more updates on market movements and trends.