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Indian Indices Expected a Positive Start on July 29

29 Jul 2024 , 08:53 AM

Indian benchmark indices, Sensex and Nifty 50, are poised to open higher on July 29, reflecting a positive market sentiment. As of 07:00 AM IST, Nifty futures were trading at 25,044.5, indicating a strong start to the trading session.

Market Overview

The Nifty 50 and the 30-stock Sensex snapped a five-day losing streak on the previous trading day, ending the week on a positive note. The Nifty 50 even managed to reach a new peak during the last minutes of trade, showcasing a robust recovery. At the close, the Sensex surged 1,292.92 points, or 1.62%, to finish at 81,332.72. Similarly, the Nifty gained 428.75 points, or 1.76%, ending at 24,834.85.

Global Market Sentiment

Asian shares experienced a rebound on Monday, setting a positive tone for the week ahead. This optimism comes ahead of significant earnings announcements and key central bank meetings. Investors are particularly focused on potential policy changes from the United States and the UK, which might signal an easing of monetary conditions. Meanwhile, Japan is also in the spotlight as it considers raising borrowing costs, a move toward normalizing its monetary policy.

Wall Street’s major indexes ended higher on Friday, buoyed by a resurgence in tech megacap stocks. These stocks had experienced broad sell-offs earlier in the week, but investor confidence returned as inflation data suggested that the Federal Reserve might soon begin cutting interest rates. The S&P 500 gained 59.88 points, or 1.11%, closing at 5,459.10 points. The Nasdaq Composite also climbed, adding 176.16 points, or 1.03%, to reach 17,357.88. The Dow Jones Industrial Average rose 654.27 points, or 1.64%, finishing at 40,589.34.

Investor Activity

Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) were active buyers in the Indian equity market on July 26. FIIs purchased equities worth ₹2,546 Crore, while DIIs extended their buying spree with purchases amounting to ₹2,774 Crore.

Related Tags

  • BSE
  • nifty
  • NSE
  • pre opening Stock Market
  • sensex
  • stock market news
  • Stock Market Updates
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