Trends in the GIFT Nifty indicate a negative start for the broader index in India, with a loss of 31 points or 0.14 percent. The benchmark Sensex and Nifty indices are likely to open lower on February 5 as trends in the GIFT Nifty indicate a negative start for the broader index down 31 points.
The market posted solid gains on February 2, with the Nifty hitting a new high of 22,126.80 and the Sensex rallying more than 1,400 points. The benchmarks gave up some of the gains to close off the day’s high. The Sensex ended 440.33 points, or 0.61 percent, at 72,085.63, and the Nifty 156.30 points, or 0.72 percent, at 21,853.80.
The pivot point calculator indicates that the Nifty is likely to take immediate support at 21,806, followed by 21,730 and 21,607 levels, while on the higher side, it may see immediate resistance at 21,883, followed by 22,127 and 22,250 levels.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms, which could impact Indian as well as international markets.
Trends in GIFT Nifty suggest negative start for Indian stock index, Sensex and Nifty likely to open lower
US stocks ended sharply higher, S&P 500 hits all-time high
Asian markets mixed as central bank decisions awaited
India raises windfall tax on crude, keeps diesel and aviation turbine fuel tax at zero
RBI expected to hold rates until mid-year, no rate cut until Q3 2024
SBI Q3 net profit falls 35% to Rs 9,163 crore, asset quality healthy
Tata Motors Q3 consolidated net profit doubles to Rs 7,025 crore
IndiGo Q3 net profit soars 111%
Foreign institutional investors net buy shares worth Rs 70.69 crore on February 2
Hindustan Copper added to NSE’s F&O ban list for February 5
These are the top 10 things to know before the market opens today. As the trends in the GIFT Nifty indicate a negative start for the broader index in India, the benchmark Sensex and Nifty are expected to open lower. The US stock market ended on a positive note, with the S&P 500 hitting an all-time high. Asian markets started the week mixed, awaiting policy decisions from key central banks. India has raised the windfall tax on crude, while keeping the tax on diesel and aviation turbine fuel at zero. The RBI is expected to hold rates until mid-year, with no rate cut until Q3 2024. SBI reported a 35% fall in net profit for Q3, while Tata Motors and IndiGo saw significant jumps in their net profits. Foreign institutional investors bought shares worth Rs 70.69 crore, and Hindustan Copper has been added to the F&O ban list for February 5.
