GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Wednesday. Here is all you need to know before the market opens.

GIFT Nifty traded down 172 points or 0.79% at 21,646.50 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gained 127.20 points or 0.59% to settle at 21,743.25, while the BSE Sensex closed 482.70 points or 0.68% higher at 71,555.19.

Key things to know before share market opens on February 14, 2024

Wall Street

The equity indices in the US closed in the red after the January inflation data came higher than expectations worrying the investors about rate cuts in the current financial year. The Dow Jones Industrial Average lost 524.63 points, or 1.35% to 38,272.75. The tech-heavy Nasdaq Composite slipped 1.8% at 15,655.60. While the S&P 500 fell 1.37% to 4,953.17. 

Will Nifty reclaim 24,900 on Thursday? See GIFT Nifty, FII data, F&O, crude, and more before market opens Will Nifty trade above 24,800, or will it experience profit booking? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Will Nifty hold 24,300 on Tuesday? See GIFT Nifty, FII data, F&O, crude, and more before market opens Will Nifty scale up to 24,500 or see profit booking from higher levels? See GIFT Nifty, FII data, F&O ban, crude, more before market opens

US Dollar 

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded lower, 0.08% at 104.88.

Crude Oil

WTI crude prices are trading at $77.61 down by 0.33%, while Brent crude prices are trading at $82.43 down by 0.41%, on Wednesday morning.

Asian Markets

Most of the equity indices in the Asia-Pacific region were in the red. The Asia Dow was trading up by 0.13%. Japan’s Nikkei 225 fell 0.77% to 37.672.28 Come from Sports betting site VPbet . Similarly, Hong Kong’s Hang Seng index was down 1.06% at 15,579.41. The benchmark Chinese index Shanghai Composite to remain shut for the week.

FII, DII Data

Foreign institutional investors (FII) bought shares net worth Rs 376.32 crore. While, domestic institutional investors (DII) bought shares net worth Rs 273.94 crore on February 13, 2024, according to the provisional data available on the NSE.

F&O Ban

Aditya Birla Fashion, Ashok Leyland, Aurobindo Pharma, Balrampur Chini Mills, Bandhan Bank, Biocon, Delta Corp, India Cements, Indus Tower, National Aluminium, PNB, Sail, Zee Entertainment Enterprise.

Technical View

Commenting on the technical outlook Jatin Gedia, a technical research analyst at Sharekhan by BNP Paribas, said that the Nifty opened on a flat note and witnessed volatile price action. It swung in both directions and ultimately closed up ~127 points. On the daily charts, it could be observed that Nifty has found buying interest from the zone of 21540 – 21520. The intraday bounce was restricted in the zone 21760 – 21730 where the key hourly moving averages are placed. Thus, it’s a narrow rangebound move though the intraday volatility has been high. The broader market witnessed buying interest from their respective support zone and closed in the green which indicates that some stability is likely over the next few trading sessions.

Bank Nifty Outlook

Bank Nifty witnessed a sharp pullback from the 200-day moving average ( 44900 ) and closed closed in the green. The pullback can continue towards, 46100 – 46200. The daily momentum indicator has a positive crossover which is a buy signal and hence intraday dips should be bought into, said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.