Stock market updates on April 01, 2024: After a stellar FY24 wherein the Nifty 50 rallied nearly 29 per cent, the NSE benchmark is likely to start the new financial year on a positive note backed by strength in Asian peers.
At 07:10 am, Gift Nifty futures quoted at 22,540, hinting at a gap-up of 50-odd points on the Nifty 50.
In the week ahead, global market trends, fund flows and the RBI policy meet on outcome are the key events that shall guide the market sentiment.
Among individual stocks, Paytm will be in focus amid reports of ‘voluntary resignations’ even as the firm denies layoff buzz. Zomato too will be on investors radar after the food-delivery firm received Rs 23.26 crore GST notice from Karnataka tax authorities.
Global markets
Asian stocks were seen trading on a positive note after China reported expansion in its manufacturing activity in March, a first since September. Hang Seng, Shanghai and Kospi were up over 0.5 per cent each.
Later tonight, the US market shall react to the latest Personal Consumption Expenditures (PCE) reading, which rose 0.3 per cent month-over-month on Friday. Dow and Nasdaq futures were up over 100 points in post-market deals.