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GIFT Nifty:
The GIFT Nifty October futures contract is up 11.50 points, suggesting a positive start for the Nifty 50.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 9,896.95 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 8,905.08 crore in the Indian equity market on 4 October 2024, provisional data showed.
FPIs have sold shares worth over Rs 30719.57 crore in October 2024 (so far). They bought shares worth 15,423.32 crore in September 2024.
Global Markets:
Asian stocks climbed, and the dollar strengthened against the yen on Monday. This followed strong U.S. job growth data, which eased recession concerns and reduced expectations for interest rate cuts.
Short-term U.S. Treasury yields rose after the non-farm payrolls report showed more jobs added than expected in September. Crude oil prices declined slightly despite ongoing tensions in the Middle East.
U.S. stocks rallied on Friday after the positive job report boosted investor confidence in the economy. The S&P 500 rose 0.9%, while the Nasdaq Composite jumped 1.22%. The Dow Jones Industrial Average added 0.81%, to notch an all-time closing high of 42,352.75. Technology stocks like Tesla, Amazon, and Netflix led the gains, while financial stocks also performed well.
Data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000. The unemployment rate ticked down to 4.1% despite expectations for it to hold steady at 4.2%.'
Domestic Market:
Domestic benchmark indices continued their downward trend for the fifth consecutive session on Friday, primarily driven by concerns over escalating tensions in the Middle East. Banking, FMCG, and auto stocks were particularly hard hit. The Nifty settled a below the 25,050 mark after hitting the day's high of 25,485.05 in early afternoon trade.
The S&P BSE Sensex tumbled 808.65 points or 0.98% to 81,688.45. The Nifty 50 index dropped 235.50 points or 0.93% to 25,014.60. The 50-unit index has fallen 4.45% in five consecutive sessions.
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