Mon Sep 30 03:07:00 UTC 2024: ## Indian Markets Open Flat to Negative Amid Global Uncertainty

**Mumbai, India -** The Indian equity market is set to open flat to negative on Monday, as indicated by the GIFT Nifty October futures contract, which is down 9 points.

This comes amid mixed signals from global markets, with Asian stocks trading in a mixed fashion. The Nikkei plunged on concerns about Japan’s new prime minister favoring higher interest rates, while the Shanghai Composite surged over 4% on the back of China’s latest stimulus measures.

China’s central bank has announced plans to reduce mortgage rates for existing home loans by the end of October, as part of a larger stimulus package to bolster its economy. However, the Caixin Manufacturing PMI in China fell to 49.3 in September, signaling a contraction in the manufacturing sector.

Meanwhile, ongoing Israeli strikes in Lebanon have increased geopolitical uncertainty.

In the US, the Dow closed at a record high on Friday, buoyed by surging energy stocks and signs of cooling inflation. However, the S&P 500 and the Nasdaq Composite both fell slightly.

Domestic equities closed slightly lower on Friday, snapping a recent rally fueled by the US interest rate cut. While the market’s overall upward momentum remains strong, supported by ample domestic liquidity, investors are likely to remain cautious in the face of global uncertainties.

**FPI and DII Activity:**

Foreign portfolio investors (FPIs) sold shares worth Rs 1,209.10 crore on Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,886.65 crore. FPIs have bought shares worth over Rs 25,215.25 crore in September 2024 so far, after selling shares worth 21,368.51 crore in August 2024.

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