NewsMarketsTrade Setup: GIFT Nifty Edges Higher, Block Deals in Akzo Nobel and Coffee Day EnterprisesTrade Setup: GIFT Nifty Edges Higher, Block Deals in Akzo Nobel and Coffee Day Enterprises
GIFT Nifty trades 0.06% higher at 25,078.00, suggesting a slightly positive start for Indian markets. US indices closed mixed, with Dow Jones down 0.37% and Nasdaq up 0.18%. Asian markets show mixed trends. Crude oil prices edge lower, while USD/INR trades at 88.68. Notable block deals in Akzo Nobel India, Coffee Day Enterprises, and Energy Infrastructure Trust. FIIs were net sellers, while DIIs were net buyers.
*this image is generated using AI for illustrative purposes only.
Global Market Sentiment
The global market sentiment remains cautious as investors digest recent developments and await key economic data.
GIFT Nifty Update
GIFT Nifty is trading at 25,078.00, up 0.06% or 14.50 points from the previous close, indicating a slightly positive start for the Indian markets.
US Markets
Major US indices closed mixed in the overnight session. The Dow Jones Industrial Average fell 0.37% to 46,142.29, while the tech-heavy Nasdaq Composite gained 0.18% to close at 22,704.25.
Asian Markets
Asian markets are showing mixed trends. Japan's Nikkei 225 is up 0.16% at 45,701.84, while Hong Kong's Hang Seng Index is down 0.08% at 26,497.50.
Commodity Trends
Crude oil prices have edged lower, with WTI crude trading at $64.70 per barrel, down 0.45%. Gold futures are trading slightly lower at $3,763.80 per ounce, down 0.11%. Silver futures are also down 0.20% at $44.11 per ounce.
Currency Updates
The USD/INR pair is trading at 88.68, down 0.07% from the previous close.
FII/DII Activity
Foreign Institutional Investors (FIIs) were net sellers, offloading shares worth ₹2,425.75 crore. Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth ₹1,211.68 crore.
Block Deals
Several significant block deals were reported:
| Company | Seller | Stake Sold | Value | Price per Share | Major Buyers |
|---|---|---|---|---|---|
| Akzo Nobel India | Imperial Chemical Industries | 5% | ₹765.00 crore | ₹3,358.80 | Nippon India Mutual Fund, WF Asian Smaller Companies Fund, Goldman Sachs Funds |
| Coffee Day Enterprises | CEO Malavika Hegde | 4.65% (8,828,793 shares) | - | ₹44.45 | AHIH Resorts and Retreat Private Limited |
| Energy Infrastructure Trust | Rapid Holdings 2 Pte Limited | 12,125,000 shares | - | ₹82.00 | NEO Wealth Partners Private Limited, Trust Investment Advisors Private Limited |
Key Global Events
- SEBI has approved JSW Paints' acquisition of up to 75% stake in Akzo Nobel India.
- Coffee Day Enterprises reported that the Income Tax Department has withdrawn the provisional attachment on the company's shares.
Conclusion
The Indian markets are poised for a slightly positive start, with GIFT Nifty indicating marginal gains. Investors will be closely watching the developments in Akzo Nobel India and Coffee Day Enterprises following the significant block deals. Global cues remain mixed, and market participants will continue to monitor commodity prices and currency movements.
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