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Sensex and Nifty 50 Set to Open Higher

12 Jul 2024 , 08:51 AM

Indian benchmark indices, Sensex and Nifty 50, are anticipated to open higher on July 12. As of 07:00 am IST, Nifty futures were trading at 24,473, indicating a positive start for the markets.

Market Recap: July 11

In the previous session on July 11, Indian markets experienced a volatile day, ultimately ending marginally lower. The Sensex closed at 79,897.34, down by 27.43 points or 0.03%. Similarly, the Nifty ended at 24,316, marking a decline of 8.50 points or 0.03%.

International Market Performance

Asian markets traded mostly lower in early trade on Friday, influenced by the latest U.S. inflation readings for June, which were at their lowest level in nearly three years. This data provides the Federal Reserve with more room to potentially lower interest rates.

On Thursday, the Nasdaq saw a sharp decline, driven by losses in major tech companies such as Nvidia, Apple, and Tesla. Investors showed a preference for smaller companies following the softer-than-expected inflation data, which bolstered expectations of a Federal Reserve interest rate cut in September.

  • S&P 500: Declined by 0.88% to close at 5,584.54 points.
  • Nasdaq: Dropped by 1.95% to finish at 18,283.41 points.
  • Dow Jones Industrial Average: Marginally increased by 0.08% to end at 39,753.75 points.

Institutional Investment Activity

On July 11, foreign institutional investors (FIIs) turned net sellers, offloading equities worth ₹1,137 Crore. In contrast, domestic institutional investors (DIIs) bought equities amounting to ₹1,676 Crore, indicating a shift in investment dynamics within the market.

Related Tags

  • BSE
  • nifty
  • NSE
  • opening bell
  • sensex
  • stock market news
  • Stock Market Updates
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