Pre-market stock analysis today:
On May 23, the benchmark Sensex and Nifty indices are anticipated to open flat with a bearish bias, in line with GIFT Nifty trends that show the overall index losing just 33 points.
In a turbulent session that preceded the release of the Fed’s most recent meeting minutes, Nifty recovered 22,600 points to close the Indian benchmark indexes on a positive note on May 22. The Nifty was up 68.80 points, or 0.31 percent, at 22,597.80 at the closing, while the Sensex was up 267.75 points, or 0.36 percent, at 74,221.06.
Here are some indicators of how the global financial markets performed throughout the course of the night to help you predict how trade will proceed today.
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Pre-market stock analysis GIFT Nifty
It’s a bad start to the day as the GIFT Nifty is trading 33 points below the Nifty 50 closing on May 22. At 07:15 AM IST, Nifty futures were trading at 22,661. Following its best day this month relative to its major peers, the dollar was trading close to a one-week high on Thursday. This was after the minutes of the most recent Federal Reserve meeting showed that some policymakers were inclined to hike interest rates. While silver prices were down about 1% in the early session, gold prices were trading flat. You’re ready for the market day now! Cheers to your trading!
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Asian markets saw volatility following the release of minutes from the most recent meeting of the US Federal Reserve, which showed that officials were becoming hesitant to reduce interest rates due to concerns about persistent inflation.
According to a Reuters poll, South Korea’s central bank maintained its benchmark policy rate at 3.5%. A May 21 Reuters poll predicted that the BOK would cut by 50 basis points in the fourth quarter.
