Bourses likely to open higher

15 Jul 2024 , 08:17 AM

Benchmark indices Sensex and Nifty 50 are anticipated to open higher on July 15, with Nifty futures trading at 24,610 as of 07:00 am IST.

Market Recap: July 12

After a muted session earlier, the bulls returned to Dalal Street, driving benchmarks to new record levels on July 12. This surge was largely propelled by Information Technology (IT) stocks following TCS’s Q1 earnings, which met market expectations.

At the close of the session:

• Sensex: Rose by 622.00 points, or 0.78%, to 80,519.34.
• Nifty: Increased by 186.20 points, or 0.77%, to 24,502.20.

Asian and US Market Performance

In early trading on Monday, Asian markets were mostly lower. Conversely, Wall Street ended higher on Friday, with both the S&P 500 and the Dow Jones Industrial Average hitting intraday record highs. This rise was driven by bets on a potential interest rate cut by the U.S. Federal Reserve in September, despite mixed results from major banks.

• S&P 500: Climbed 0.55% to 5,615.35 points.
• Nasdaq: Gained 0.63% to 18,398.45 points.
• Dow Jones Industrial Average: Rose 0.62% to 40,000.90 points.

Institutional Investment Activity

On July 11, foreign institutional investors (FIIs) turned net buyers, purchasing equities worth ₹4,021 Crore. Meanwhile, domestic institutional investors (DIIs) continued their selling spree, offloading equities worth ₹1,651 Crore.