Nifty to show a trend reversal or fall in trade- See GIFT Nifty, FII data, crude, F&O ban, more before market opens
GIFT Nifty traded flat at 19,494, up marginally 0.06% during Thursday’s early trading session, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. On Wednesday, the benchmark equity indices settled in negative territory. The NSE Nifty 50 fell 0.47% to settle at 19,436.10, while the BSE Sensex tumbled 286.06 points to 65,226.04.
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“Strong US job data is reinforcing Fed’s hawkish stance and multi-year high US bond yields is signalling an impending interest rate hike. Globally, investors are adopting risk-averse strategies due to inflation concerns and the strengthening US dollar. And in India, despite a robust economy, premium valuations of midcaps and recent rally is augmenting consolidation. Interest-rate-sensitive sectors like real estate, banking, and metals are the most impacted category, while the FMCG sector is more optimistic in expe…