Indian Stock Market Likely to Witness Volatility Amidst Global Cues; GIFT Nifty Up 65 Points, FIIs Buy Shares Worth ₹694 Crore; Federal Reserve's Decision to Dictate Market Direction.
Stock Market: Indian stock markets may experience the impact of global cues on Wednesday (March 19th). Weakness in US consumer sentiment caused turbulence in US markets on Tuesday, and this could affect Asian markets as well.
Market Supported by Foreign Investor Purchases
On Tuesday, Foreign Institutional Investors (FIIs) purchased shares worth ₹694.57 crore in the Indian stock market. Domestic Institutional Investors (DIIs) also made net purchases of shares worth ₹2,534.75 crore, potentially strengthening market sentiment.
GIFT Nifty Indication and Market Direction
GIFT Nifty futures were trading at 22,962 at 7:45 AM, approximately 65 points above the previous close. This suggests a positive opening for the Indian market today. However, investors will also be closely watching the US Federal Reserve's interest rate decision.
Strong Market Performance on Tuesday
In the previous trading session, the BSE Sensex closed at 75,301, up 1,131 points (1.5%), while the NSE Nifty closed at 22,834, up 325.5 points (1.45%).
Key Factors to Watch Today:
- US Federal Reserve's Interest Rate Decision: This could cause volatility in global markets.
- Bank of Japan's Monetary Policy: The Japanese central bank's decision may impact Asian markets.
- GIFT Nifty Indications: Strong early trading signals could lead to a positive market opening.
- Foreign Investor Activity: Buying by FIIs and DIIs could sustain the market rally.
Will the Stock Market Rally Continue Today?
Indian markets witnessed a b rally on Tuesday. If the market opens with b global cues today, the Nifty could surpass 22,900, and the Sensex may also continue its upward trend. However, major interest rate decisions could lead to volatility later in the day.
