Sensex and Nifty 50 Set for Flat Opening

9 Jul 2024 , 08:02 AM

Indian benchmark indices Sensex and Nifty 50 are anticipated to open flat on July 9, according to GIFT Nifty, which is trading at 24,388 as of 07:00 AM IST.

On July 8, Indian markets closed flat, stepping back from last week’s record highs. The Sensex dipped by 0.05% to 79,960.38 points, while the Nifty edged down by 0.01% to 24,320.55 points. The focus now shifts to the upcoming June quarter earnings reports. The IT sector is set to kick off the Q1FY25 earnings season starting from July 11, beginning with Tata Consultancy Services (TCS), the country’s largest software exporter.

Asian Markets and Wall Street Performance

Asian markets are trading higher on Tuesday, tracking gains on Wall Street. The S&P 500 and Nasdaq Composite both reached new highs on Monday. The S&P 500 climbed by 0.10% to close at 5,572.85 points, marking its fourth consecutive record-high close. The Nasdaq gained 0.28% to 18,403.74 points, achieving its fifth straight record-high close. Conversely, the Dow Jones Industrial Average declined by 0.08% to 39,344.79 points.

Investor Activity

On July 8, foreign institutional investors (FIIs) bought equities worth ₹60.98 Crore, while domestic institutional investors (DIIs) turned net buyers, purchasing equities worth ₹2,866 Crore.