Sensex, Nifty Open Flat Amid Mixed Global Cues; Key Points

Domestic markets started on a tepid note ahead of crucial inflation data, amidst sombre global sentiments.

The Sensex was up 6.48 points or 0.01% at 60689.18, and the Nifty was up 1.20 points or 0.01% at 17857.70. About 1326 shares have advanced, 820 shares declined, and 188 shares are unchanged.

India’s forex reserves falls

India’s foreign exchange reserves saw a drop after nearly three weeks, falling $1.5 billion to $575.27 billion in the week ended February 3.

The fall was the result of the decline in the Foreign Currency Assets (FCA), a major component of the overall reserves, the Reserve Bank of India’s weekly statistical supplement said on February 10.

The FCA fell $1.32 billion to $507.69 billion for the week ending February 3. Gold reserves were down $246 million to $43.78 billion.

FPIs’ exodus continues; take out Rs 9,600 cr from equities in Feb

“I expect this flow (outflow) trend to continue until there is more clarity on the Adani issue, markets stabilize further and FPIs see more concrete signs of recovery in the Indian economy,” Himanshu Srivastava, Associate Director – Manager Research, Morningstar India, said.

Global Cues

Globally, the US equity futures were subdued this morning as Dow Jones Futures, NASDAQ Futures, and the S&P 500 Futures dropped up to 0.6 per cent.

Asia-Pacific markets, too, fell in tandem as investors eye macro economic data releases this week. Key indices like Nikkei 225, Kospi, Kosdaq, and the S&P 200 indices declined up to 0.6 per cent.