On July 22, the Indian equity market is anticipated to open on a negative note. Nifty futures were trading at 24,412 as of 07:00 am IST. The trading session on July 19 experienced widespread profit booking ahead of the Union Budget scheduled for July 23, which led to a decline in major indices.
At the close of the session, the Sensex fell by 738.81 points, or 0.91%, to 80,604.65. Similarly, the Nifty dropped 269.90 points, or 1.09%, to 24,530.90.
Asian Markets and US Influence
Asian markets were trading lower, primarily due to the decline in chip-related stocks. This drop was influenced by reports of more stringent export restrictions from the U.S. and comments from former U.S. President Donald Trump concerning Taiwan’s semiconductor business.
US Market Slump
In the U.S., stocks continued their downward trend on Friday. The market was further destabilized by lingering chaos from a global technical outage caused by a software glitch, adding to the existing market anxiety.
Institutional Activity
On July 19, foreign institutional investors (FIIs) were net buyers, purchasing equities worth ₹1,506 Crore. In contrast, domestic institutional investors (DIIs) were net sellers, offloading equities worth ₹461 Crore.
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