Markets may start red amid volatility

25 Jul 2023 , 08:45 AM

The NSE IX witnessed a 26-point decline, equivalent to 0.13%, settling at 19,712, indicating a negative start for Dalal Street on Tuesday. Investor sentiment in Asian shares improved on Tuesday due to China’s commitment to providing stronger policy support for its struggling economy, leading to a rebound in Hong Kong and Chinese stocks. Consequently, the dollar softened ahead of the upcoming Federal Reserve meeting this week.

On July 24, the Nifty experienced a second consecutive session of decline, primarily influenced by profit-taking after the release of results from certain companies. The day concluded with Nifty down by 0.37% or 72.7 points, ending at 19,672.4, while trading volumes on the NSE remained robust.

The global markets exhibited mixed performance as investors prepared for the busiest week of the earnings season and anticipated key central bank policy meetings. Concerns about the global economy’s slowdown were exacerbated by significant declines in manufacturing and services indicators from the Euro region.

Several notable companies, including Asian Paints, L&T, Bajaj Auto, Tata Motors, SBI Life, Jubilant Food, and Suzlon, are scheduled to announce their first-quarter results today.