Stock Market LIVE on Friday, August 16, 2024: Benchmarks Sensex and Nifty50 may see a higher start on Friday, buoyed by strong global cues.
At 7:11 AM, GIFT Nifty futures were up 159 points at 24,333.50, indicating a gap-up start for the trading day.
Asian markets were active, driven by Wall Street’s performance. The Nikkei led with a gain of 2.76 per cent, followed by the Kospi and ASX200, which rose 1.70 per cent and 1.32 per cent, respectively.
In the US, markets closed higher after recent economic data eased recession fears. Initial jobless claims for the week ending August 10 dropped to 227,000 from 233,000 the previous week. The Nasdaq surged 2.34 per cent, the Dow Jones increased 1.39 per cent, and the S&P 500 advanced 1.61 per cent.
Domestically, investors will focus on forex reserve data. On August 14, foreign institutional investors (FIIs) sold shares worth Rs 2,595.27 crore, while domestic institutional investors (DIIs) purchased shares worth Rs 2,236.21 crore.
