Benchmark Indices Trade Flat in Pre-Opening Session

24 Jul 2024 , 09:16 AM

In the pre-opening session, Indian benchmark indices showed minimal movement with the Sensex rising 45.03 points or 0.06% to 80,474.07, while the Nifty dipped by 42.50 points or 0.17% to 24,436.50.

The Indian equity market continued its downward trend for the third consecutive session on July 23, reacting to a blend of announcements made by Finance Minister Nirmala Sitharaman in the Union Budget speech. At the close of trading, the Sensex declined by 73.04 points or 0.09%, settling at 80,429.04, and the Nifty fell by 30.20 points or 0.12%, ending at 24,479.

Asian markets experienced a downturn on Wednesday as traders evaluated the July business activity data from Australia, tech earnings from the U.S., and awaited Japan’s PMI readings. This cautious sentiment followed Wall Street’s performance where major indexes ended slightly lower. The S&P 500 dropped 8.67 points or 0.16% to 5,555.74, the Nasdaq Composite fell 10.22 points or 0.06% to 17,997.35, and the Dow Jones Industrial Average decreased by 57.35 points or 0.14% to 40,358.09.

On July 23, foreign institutional investors (FIIs) turned net sellers, offloading equities worth ₹2975 Crore. In contrast, domestic institutional investors (DIIs) were net buyers, purchasing equities worth ₹1418 Crore.