Markets may start flat amid volatility

24 Jul 2023 , 08:30 AM

The GIFT Nifty suggests a flat opening for the broader index, with a marginal decline of 21 points at 19,745.50.

On July 21, the Indian stock market faced a significant downturn, with the Sensex plummeting 888 points to 66,684, and the Nifty50 dropping 234 points to 19,745. The daily charts displayed a bearish candlestick formation with a long upper shadow.

In the Asian region, share markets maintained stability on Monday, with investors closely monitoring an eventful week ahead, including earnings reports and central bank meetings. Expectations are for higher interest rates in both Europe and the United States, which may signal the end of the tightening cycle in both regions. Investors are closely observing these developments to assess their potential impact on the global economy and financial markets.

On Sunday evening, S&P 500 futures were relatively unchanged as investors awaited key earnings reports and a major policy decision from the Federal Reserve. Futures tied to the broad market index showed a slight decline of 0.07% , while Dow Jones Industrial Average futures were lower by 37 points, and Nasdaq 100 futures gained 0.03%.

Today, Tata Steel, TVS Motor, IDBI Bank, Canara Bank, and others are scheduled to announce their first-quarter results.