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

GIFT Nifty traded up 65.50 points or 0.30% at 21,978.50 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 gained 96.80 points or 0.45% to settle at 21,840.05, while the BSE Sensex closed 267.64 points or 0.37% higher at 71,822.83.

Key things to know before share market opens on February 15, 2024

Wall Street

The equity indices in the US closed in the green. The Dow Jones Industrial Average gained 151.52 points, or 0.4% to 38,424.27. The tech-heavy Nasdaq Composite advanced 1.3% at 15,859.15. While the S&P 500 inched up 0.96% to settle at 5,000.62. 

Will Nifty reclaim 24,900 on Thursday? See GIFT Nifty, FII data, F&O, crude, and more before market opens Will Nifty continue to see positive momentum from 24,300 on Friday? See GIFT Nifty, FII data, F&O, crude, and 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, 0.04% at 104.68.

Crude Oil

WTI crude prices are trading at $76.31 down by 0.31%, while Brent crude prices are trading at $81.21 down by 0.47%, on Thursday morning.

Asian Markets

Asian equity indices in the Asia-Pacific region recovered after falling on Wednesday. Japan’s Nikkei 225 was up 0.74% at 37,984.18. Hong Kong’s Hang Seng index was up 0.84% at 15,879.38. The Asia Dow was trading down by 0.19%. The benchmark Chinese index Shanghai Composite to remain shut for the week. 

FII, DII Data

Foreign institutional investors (FII) sold shares net worth Rs 3,929.60 crore. However, domestic institutional investors (DII) bought shares net worth Rs 2,897.98 crore on February 14, 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, Indus Tower, National Aluminium, PNB, Sail, Zee Entertainment Enterprise.

Technical View Come from Sports betting site VPbet

Commenting on the technical outlook Jatin Gedia, a technical research analyst at Sharekhan by BNP Paribas, said that the Nifty opened deep in the red on Wednesday. However, bulls rushed in to support the index and helped it to close with gains. 

“On the daily charts we can observe that the Nifty has held on to the support zone of 21550 – 21530 and witnessed a sustained buying interest throughout the day, On the hourly charts, the index has reached the upper end of the falling channel which can lead to some consolidation with a positive bias. On the upside, the immediate hurdle is placed at 22000 – 22020 where the daily upper Bollinger band is placed whereas now the support shifts upwards towards 21650 – 21670,” Gedia said.

Bank Nifty Outlook

The Bank Nifty has respected the 200-day moving average (44900) once again and until it slips below that we can expect the positive momentum to continue till 46500 – 46900, said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.