Markets may open flat amid mixed global cues

10 Jul 2024 , 09:03 AM

Benchmark indices Sensex and Nifty 50 are likely to open flat on July 10, tracking cues from GIFT Nifty, which was trading near 24,488.50.

Record-High Closes on July 9

On July 9, the Indian markets closed at fresh record highs due to buying in blue-chip stocks, firm global market trends, and foreign fund inflows.

• Sensex: Ended at an all-time high of 80,351 points, up 0.49%
• Nifty 50: Closed at a lifetime high of 24,433.20 points, up 0.46%

Global Market Trends

Asian markets were trading mixed, despite key Wall Street benchmarks rising after dovish comments from U.S. Federal Reserve Chairman Jerome Powell overnight. Powell’s comments suggested that favorable economic data would support the case for interest rate cuts.

• S&P 500: Climbed 0.07% to end the session at 5,576.98 points
• Nasdaq: Gained 0.14% to close at 18,429.29 points
• Dow Jones Industrial Average: Declined 0.13% to 39,291.97 points

Foreign and Domestic Institutional Investor Activity

• Foreign Institutional Investors (FIIs): Bought equities worth ₹314 Crore on July 9
• Domestic Institutional Investors (DIIs): Also bought equities worth ₹1,416 Crore on the same day