Stock Market Live Update: GIFT Nifty Approaches 23,800 with Major Stocks in Focus

As of 7:33 a.m., the GIFT Nifty showed a slight increase of 0.06%, rising by 15.50 points to reach 23,797.00. This minor uptick in the index indicates a cautious market sentiment. In particular, stocks like UltraTech Cement, Vedanta, UPL, and Indian Oil are expected to attract significant attention from investors as various news developments unfold.

The Indian benchmark indices experienced a turbulent week, closing at their lowest levels in over a month. This decline was largely influenced by hawkish signals from the US Federal Reserve, triggering a global market sell-off. The NSE Nifty 50 ended with a drop of 364.20 points, or 1.52%, finishing at 23,587.50, while the BSE Sensex decreased by 1,176.46 points, or 1.49%, to close at 78,041.59.

In the context of market movements, foreign investors have been net sellers for five consecutive days, offloading stocks worth approximately Rs 15,828 crore. Conversely, domestic institutional investors (DIIs) have been on a buying spree for four straight days, providing some support to the slipping market.

On Friday alone, foreign portfolio investors (FPIs) sold off stocks valued at around Rs 3,597.8 crore, whereas DIIs purchased stocks worth Rs 1,374.4 crore, according to provisional figures from the National Stock Exchange.

Ultimately, as the market opens today, cautious observers will be keen on the performance of technology and industrial stocks, which are crucial amidst this prevailing market volatility.

Stock, Market, Nifty