GIFT Nifty Signals Positive Start; Global Cues Mixed Ahead of Opening Bell
GIFT Nifty up 0.28% at 24,895.50, indicating a gap-up opening. US markets closed lower on Friday, while Asian indices show early gains. Oil prices rise, with WTI Crude up 1.10%. FIIs were net sellers, while DIIs were net buyers on September 5. Key corporate actions include dividend payouts for HFCL, Birla Corporation, and RBL Bank. Significant block deals observed in Prime Focus shares.
*this image is generated using AI for illustrative purposes only.
Market Setup for September 8
The Indian markets are poised for a positive start today, as indicated by the GIFT Nifty futures. Global cues remain mixed, with U.S. markets closing lower on Friday while Asian indices show gains in early trade.
GIFT Nifty Update
The GIFT Nifty is trading at 24,895.50, up 70 points or 0.28% from the previous close, suggesting a gap-up opening for domestic indices.
Global Market Overview
US Markets
U.S. stock indices ended lower on Friday, with the Dow Jones Industrial Average dropping 220.43 points (-0.48%) to close at 45,421.87. The tech-heavy Nasdaq Composite fared slightly better, gaining 56.25 points (0.26%) to end at 21,665.25.
Asian Markets
Asian markets are showing positive momentum in early trade. Japan's Nikkei 225 is up 1.56% at 43,688.28, while Hong Kong's Hang Seng Index has gained 0.10% to trade at 25,444.50.
Commodity Trends
Oil prices are on the rise, with WTI Crude trading at $62.55 per barrel, up 1.10%. Gold futures are slightly lower at $3,630.30 per ounce, down 0.63%. Silver futures have also dipped, trading at $41.28 per ounce, down 0.67%.
FII/DII Activity
Foreign Institutional Investors (FIIs) were net sellers on September 5, offloading shares worth ₹1,304.91 crore. Domestic Institutional Investors (DIIs) were net buyers, purchasing shares valued at ₹1,821.23 crore.
Key Corporate Actions
Several companies are set for dividend payouts and annual general meetings (AGMs) today. Notable among these are:
| Company | Dividend |
|---|---|
| HFCL | ₹0.10 |
| Birla Corporation | ₹10.00 |
| RBL Bank | ₹1.00 |
Block Deals Highlight
Significant block deals were observed in Prime Focus shares on Friday:
- Ramesh Damani acquired 8 lakh shares at ₹142.55 per share
- Utpal Sheth bought 17.5 lakh shares at the same price
- Singularity Large Value Fund I, owned by Madhusudan Kela, purchased 62.5 lakh shares
These transactions have attracted attention as none of these buyers had prior stakes in Prime Focus as per June shareholding data.
Conclusion
As the markets prepare to open, investors will be closely watching global cues and domestic factors. The positive GIFT Nifty indication, coupled with mixed global markets and ongoing corporate actions, sets the stage for an interesting trading session ahead.
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