Share Market News

GIFT Nifty:

GIFT Nifty futures point towards a potential 30 point rise for the Nifty 50 at the open.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,605.49 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,431.69 crore in the Indian equity market on 25 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 14,396.99 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Dow Jones Futures were up 137 points, indicating a positive opening in the US stocks today.

Asian stocks rose on Friday as investors digested Tokyo's latest inflation data and awaited key U.S. economic figures. Japan’s headline inflation eased slightly to 2.2% in July, while core inflation held steady at 2.2%.

The market's focus now shifts to the U.S., where the release of the personal consumption expenditure (PCE) index – the Federal Reserve's preferred inflation gauge – is expected to influence interest rate expectations.

Meanwhile, U.S. stocks experienced a rotation away from technology shares on Thursday, with the Nasdaq Composite and S&P 500 declining. The Dow Jones Industrial Average bucked the trend with a modest gain. This shift is a common occurrence during bull markets as market leadership evolves.

Domestic Market:

The domestic equity benchmarks slipped for a fifth straight day, mirroring a global tech sell-off. The Nifty ended flattish after an early slump, with oil & gas and auto sectors shining while metals and banks lagged. Concerns over heightened valuations in certain segments are weighing on sentiment. The barometer index, the S&P BSE Sensex, was down 109.98 points or 0.14% to 80,039.80. The Nifty 50 index shed 7.40 points or 0.03% to 24,406.10. The 50-unit index has fallen 1.59% in five straight sessions.

GIFT Nifty:

GIFT Nifty futures point towards a potential 80 point drop for the Nifty 50 at the open.

Foreign portfolio investors (FPIs) sold shares worth Rs 5,130.90 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,137.30 crore in the Indian equity market on 24 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 17,002.48 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Dow Jones Futures were up 77 points, indicating a positive opening in the US stocks today.

Asian markets tumbled on Wednesday as investors took a breather from the AI-fueled rally that has propelled stocks higher this year. Japan and South Korea both saw declines of over 2%, with chipmaker SK Hynix Inc. leading the downturn despite strong earnings.

The US market suffered a significant setback, with the S&P 500 plunging 2.3% — its worst day since December 2022. This marked the end of the longest period without a 2% drop since the 2008 financial crisis. The tech-heavy Nasdaq 100 plummeted 3.64%, dragged down by its largest components. Alphabet Inc. fell 5% after revealing higher-than-expected spending on its AI initiatives. Tesla Inc.'s stock plunged 12% following a disappointing profit report and delay of its robotaxi service. Nvidia Corp. also dropped 6.8%. The slump in the "Magnificent Seven" tech giants triggered a broad market sell-off. The Dow Jones Industrial Average also declined 1.25%.

Domestic Market:

The domestic stock market remained jittery for a fourth day on Wednesday, surrendering early gains as banking and finance stocks faltered. Nifty50 couldn't hold above 24,450 despite pockets of strength in oil & gas and consumer durables. Last-minute buying helped pare some losses, but overall sentiment stayed fragile due to negative global cues.

The S&P BSE Sensex fell 280.16 points or 0.35% to 80,148.88. The Nifty 50 index shed 65.55 points or 0.27% 24,413.50.

GIFT Nifty:

GIFT Nifty futures point towards a potential 46.5-point drop for the Nifty 50 at the open.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,975.31 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,418.82 crore in the Indian equity market on 23 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 22,133.38 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Dow Jones Futures were down 76 points, indicating a positive opening in the US stocks today.

Asian shares dropped across the board on Wednesday, mirroring losses on Wall Street after major US technology companies, including Tesla and Alphabet, released underwhelming earnings reports.

Adding to the negative sentiment, Japanese manufacturing activity unexpectedly contracted in July, according to the au Jibun Bank flash manufacturing PMI. This data, coupled with ongoing frustration over the Bank of Japan's low-interest-rate policy, is putting pressure on the central bank to address inflation concerns.

In the US, stocks closed slightly lower on Tuesday as investors digested mixed corporate earnings reports and kept a close watch on the evolving presidential election. The broad-based S&P 500 declined 0.16%, while the tech-rich Nasdaq Composite Index dipped 0.06%. The Dow Jones Industrial Average declined 0.14%

The Federal Reserve's preferred inflation gauge, the PCE data, and US GDP data are both expected to be released later this week, potentially impacting interest rate expectations.

Domestic Market:

The stock market saw minor cuts Tuesday as the Budget for 2024-25 was unveiled. Both Sensex and Nifty extended their losing streak to three sessions. Despite positive global cues, the Nifty50 closed below 24,500 after hitting an early high of 24,582.55. Profit booking in response to the Finance Minister's hike in long-term capital gains tax from 10% to 12.5% erased gains. However, last-hour buying helped the index recover slightly, ending the day on a flat note. FMCG and consumer durables shares rallies, while realty and PSU banks tumbled.

The S&P BSE Sensex fell 73.04 points or 0.09% to 80,429.04. The Nifty 50 index shed 30.20 points or 0.12% to 24,479.05.

GIFT Nifty:

The Nifty 50 index is expected to open 3.50 points lower based on GIFT Nifty futures.

Finance Minister Nirmala Sitharaman will present the Union Budget for 2024-25 in the Lok Sabha today, 23 July 2024. This highly anticipated Union Budget 2024 will serve as a pivotal economic roadmap for the Modi 3.0 government, aiming to propel India towards becoming a developed nation, 'Viksit Bharat', by 2047. The pre-Budget Economic Survey, presented by Sitharaman in Lok Sabha on Monday, has outlined a conservative growth forecast of 6.5 to 7% for the current fiscal year.

Foreign portfolio investors (FPIs) bought shares worth Rs 3,444.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,652.34 crore in the Indian equity market on 22 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 25,108.69 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks rebounded from one-month lows on Tuesday, mirroring a Wall Street rally fueled by strong earnings reports from major tech companies. Taiwan's market, led by semiconductor stocks, snapped a five-day losing streak.

This surge follows gains on Monday in the US, where the S&P 500 rose over 1% and the tech-heavy Nasdaq jumped 1.6%. Both indexes were recovering from their worst weekly performance since April. Investors seemed unfazed by the news of President Biden exiting the presidential race, instead focusing on upcoming earnings reports from tech giants Tesla and Alphabet. Both companies' stocks saw significant gains on Monday.

Domestic Market:

Domestic stocks ended almost flat Monday as investors remained cautious ahead of tomorrow's Union Budget, opting to wait and see before making any major moves. Despite early gains, the Nifty50 couldn't hold onto momentum and closed below 24,550. While some sectors like auto and healthcare saw a rise, others like oil & gas and realty declined. This cautious approach reflects the dual impact of the conservative economic growth projection and recent underwhelming corporate earnings reports. The budget is expected to be positive, but high valuations and potential downgrades in earnings growth keep investors on edge.

The barometer index, the S&P BSE Sensex, was down 102.57 points or 0.13% to 80,502.08. The Nifty 50 index shed 21.65 points or 0.09% to 24,509.25.

GIFT Nifty:

The Nifty 50 index is expected to open 5.50 points lower based on GIFT Nifty futures.

Finance Minister Nirmala Sitharaman will present the Union Budget for 2024-25 in the Lok Sabha on Tuesday, 23 July 2024.

The Indian government plans to introduce six new bills during the upcoming Monsoon Session of Parliament, which will run from July 22 to August 12.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,506.12 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 461.56 crore in the Indian equity market on 19 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 21,664.63 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Most Asian markets fell on Monday following Joe Biden's decision to withdraw from the US presidential race, which added fresh uncertainty to the situation. Despite China's attempt to stimulate its struggling economy by reducing interest rates, traders seemed unaffected.

On Sunday, Biden endorsed Vice President Kamala Harris as his successor.

In the meantime, China implemented a reduction in benchmark lending rates during the monthly fixing on Monday. The one-year loan prime rate (LPR) was decreased by 10 basis points to 3.35% from 3.45%, while the five-year LPR was also lowered by the same margin to 3.85% from 3.95%.

US stocks experienced a decline on Friday due to a chaos caused by a global technical outage resulting from a software glitch, amplifying the existing market unease. The S&P 500 dropped 0.71%, closing at 5,505.00. Nasdaq Composite slid 0.81% to end at 17,726.94. The Dow Jones Industrial Average fell 377.49 points, or 0.93%, to 40,287.53.

Domestic Market:

Profit-taking gripped Dalal Street Friday as investors hit the brakes ahead of next week's union budget. The Nifty shed its four-day winning streak, closing below 24,550 despite a strong start. All sectors finished lower, with metals and oil & gas taking the biggest hits. Broader market indices extended selloff.

In the barometer index, the S&P BSE Sensex, was dropped 738.81 points or 0.91% to 80,604.65. The Nifty 50 index declined 269.95 points or 1.09% to 24,530.90.

The Sensex and Nifty clocked an all-time high of 81,587.76 and 24,854.80, respectively, in early trade.

GIFT Nifty:

The Nifty 50 index is expected to open 44 points higher based on GIFT Nifty futures.

Foreign portfolio investors (FPIs) bought shares worth Rs 5,483.63 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,904.25 crore in the Indian equity market on 18 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 20158.51 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stock markets are showing mixed performance. This is due to a combination of factors including political tensions (US-China trade war, US election), China's weak economic data, and a lack of clear plans from Chinese government to boost their economy.

U.S. stocks fell on Thursday, snapping a winning streak for the Dow after large technology companies continued to lose ground. This comes amid concerns about overvaluation after a strong 2024 driven by AI optimism. The VIX, a gauge of investor fear, jumped 10%, potentially reflecting anxieties surrounding the upcoming presidential election. The Dow Jones Industrial Average closed down 1.3%, ending its three-day record run. The broader S&P 500 and tech-heavy Nasdaq also saw losses.

Domestic Market:

The domestic equity barometers continued their winning streak, rising for the fourth consecutive day on Thursday. The Nifty50 closed a tad above 24,800, despite early morning volatility due to weekly contract expiry. Strength in IT and FMCG stocks helped the markets reach new highs.

The S&P BSE Sensex surged 626.91 points or 0.78% to 81,343.46. The Nifty 50 index added 187.85 points or 0.76% to 24,800.85. Both the indices attained record closing levels.

The Sensex and Nifty clocked an all-time high of 81,522.55 and 24,837.75, respectively in mid-afternoon trade.

GIFT Nifty:

The Nifty 50 index is expected to open 20 points lower based on GIFT Nifty futures.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,271.45 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 529.48 crore in the Indian equity market on 16 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 14,674.88 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Economy:

The International Monetary Fund (IMF) upgraded India's economic outlook, raising its growth forecast for the 2024-25 financial year to 7%. This revision is driven by an anticipated improvement in private consumption, especially in rural areas.

The IMF maintained its projection of 6.5% growth for the following year (2025-26). This information comes from their latest World Economic Outlook report.

In April, the IMF had already revised India's growth forecast upwards, from 6.5% to 6.8%. This latest increase reflects continued optimism about the Indian economy.

Global Markets:

Dow Jones Futures were up 100 points, indicating a positive opening in the US stocks today.

Asian markets were mixed on Thursday. Chip stocks dipped as investors worried about potential trade war escalation between the US and China. Meanwhile, the Japanese yen strengthened to a six-week high, likely due to recent interventions by the Japanese government.

News of stricter US export controls on advanced chip technology to China caused chip stocks and the Nasdaq to fall in the US overnight. This decline was led by tech giants Nvidia and Apple.

Later today, investors will focus on the European Central Bank's policy decision. The bank is likely to maintain current interest rates, but their comments will be closely watched for hints about future rate adjustments.

US markets ended Wednesday with mixed results. The S&P 500 and Nasdaq took a significant hit due to a sell-off in tech stocks driven by trade war concerns. The S&P 500 dropped 1.4%, and the Nasdaq plunged 2.8%. However, the Dow Jones bucked the trend, rising 0.6% (243 points) after a surge of over 700 points on the previous day.

Domestic Market:

Indian stock market was shut on Wednesday, 17 July 2024, on account of Muharram.

The domestic equity benchmarks ended slightly higher Tuesday, extending gains for the third day. The barometers hit fresh highs early on, boosted by FMCG and IT sectors, but profit-booking erased most of those gains. Investors are cautious about high valuations. US Fed Chair Powell's dovish comments and a drop in US bond yields offered some support.

In the barometer index, the barometer index, the S&P BSE Sensex, rose 51.69 points or 0.06% to 80,716.55. The Nifty 50 index added 26.30 points or 0.11% to 24,613.00.

The Sensex and Nifty clocked an all-time high of 80,898.3 and 24,661.25, respectively, in early afternoon trade.

GIFT Nifty:

The Nifty 50 index is expected to open 14.50 points higher based on GIFT Nifty futures.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,684.78 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 331 crore in the Indian equity market on 15 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 13403.43 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks trading lower, dismissing gains on Wall Street due to concerns of a potential second term for Donald Trump, leading to worries about trade and geopolitical issues. China and Hong Kong shares fell amid fears of Trump's proposed tariffs.

Investor concerns grew as China's GDP growth unexpectedly slowed, primarily due to weakened consumer spending undermining export growth. The implications have raised pressure on policymakers to boost support measures at an upcoming economic meeting.

In the U.S., the Dow Jones Industrial Average surged to an all-time high after Trump announced JD Vance as his running mate, leading to a 31% increase in Trump Media & Technology Group Corp. Trump's growing odds of victory have positively influenced various industries.

Meanwhile, Federal Reserve Chair Jerome Powell expressed confidence in the second-quarter economic data, hinting at possible near-term interest-rate cuts but refrained from specifying the timing.

On Monday, the Dow Jones Industrial Average moved up 0.5% and the S&P 500 gained 0.28%. The tech-heavy Nasdaq composite climbed 0.42%.

Domestic Market:

The domestic equity indices extended gains for a second day, with the Nifty50 closing above 24,550. Hopes of a US rate cut in September buoyed sentiment. Barring the Nifty IT index, all the sectoral indices on the NSE ended higher. PSU banks and oil & gas shares rallied. The S&P BSE Sensex gained 145.52 points or 0.18% to 80,664.86. The Nifty 50 index added 84.55 points or 0.35% to 24,586.70. The 50-unit index hit a record high of Rs 24,635.05 today.

GIFT Nifty:

The Nifty 50 index is expected to open 13.50 points higher based on GIFT Nifty futures.

Foreign portfolio investors (FPIs) bought shares worth Rs 4,021.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,651.45 crore in the Indian equity market on 12 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 10718.65 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks traded mixed on Monday, influenced by contrasting factors.

China's economic growth fell short of expectations in the second quarter, dampening sentiment. The country's GDP expanded by 4.7% year-on-year, slowing from the previous quarter's 5.3%. Additionally, uncertainty surrounding U.S. politics, following an assassination attempt on former President Donald Trump, added to market volatility.

However, losses were tempered by a positive close on Wall Street on Friday, where major indexes approached record highs amid growing expectations of interest rate cuts. Wall Street futures remained modestly positive in Asian trading hours, although the impact of the attempted assassination on the 2024 presidential race remains unclear. Trump is scheduled to be officially nominated as the Republican presidential candidate at this week's party convention.

Domestic Market:

The domestic equities surged Friday, with the Nifty50 closing near 24,500, driven by a strong showing from IT stocks. Positive sentiment was fueled by TCS's robust earnings and easing US inflation, boosting hopes of a September rate cut. However, with the earnings season in full swing and the union budget looming, expect more stock-specific action in the coming days. The barometer index, the S&P BSE Sensex, was up 622 points or 0.78% to 80,519.34. The Nifty 50 index gained 186.20 points or 0.77% to 24,502.15. The Sensex and Nifty clocked an all-time high of 80,893.51 and 24,592.20 respectively in mid-morning trade.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a flat opening for the Nifty 50 index.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,137.01 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,676.47 crore in the Indian equity market on 11 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 6697.05 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks traded mixed on Friday, with technology-heavy indexes plunging as investors cashed in on recent gains.

Regional markets largely mirrored the previous day's sell-off on Wall Street, where heavyweight technology stocks, especially chipmakers and AI-related companies, faced significant profit-taking pressure. The Nasdaq Composite index plummeted nearly 2%.

The decline in equities coincided with softer-than-expected US consumer price index data for June, which fueled expectations of potential Federal Reserve interest rate cuts as early as September. Investors shifted their focus to economically sensitive sectors poised to benefit from lower borrowing costs.

While the Dow Jones Industrial Average edged up 0.1%, the broad-based S&P 500 fell 0.9%. The tech-heavy Nasdaq Composite Index ended a seven-day winning streak with a 2% drop.

US Consumer Price Index (CPI) rose 3% year-over-year, down from 3.3% in May. The annual core CPI, excluding volatile food and energy prices, increased by 3.3%, slowing from the previous month's 3.4%. On a monthly basis, overall CPI dipped 0.1%, while core CPI edged up 0.1%.

Domestic Market:

The key equity benchmarks ended flat Thursday after a volatile session marked by F&O expiry. The index opened positive, mirroring global gains, but quickly reversed course amid selling pressure. However, a late rally helped it recover lost ground. Realty, healthcare, and pharma dragged, while oil & gas and consumer durables led the gainers. The barometer index, the S&P BSE Sensex, was down 27.43 points or 0.03% to 79,897.34. The Nifty 50 index lost 8.50 points or 0.03% to 24,315.95.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 17.50 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 583.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,082.40 crore in the Indian equity market on 10 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 7834.06 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks surged on Thursday, fueled by tech gains and record highs in Japan, after chipmaker TSMC's strong revenue boosted optimism for AI. TSMC's record revenue in June, driven by surging AI demand, pushed its share price up nearly 2% in Taiwan.

The rally followed a surge on Wall Street overnight, where the S&P 500 and NASDAQ hit records on hopes of a soft economic landing and potential Fed rate cuts later this year. All eyes are now on upcoming consumer inflation data, which will heavily influence the Fed's decision on interest rates.

Domestic Market:

The domestic stocks closed slightly lower on Wednesday after setting new record highs earlier in the day. The Nifty ended below 24,350, despite early gains. Sectors like pharma, healthcare and FMCG saw buying interest, while autos and metals sold off. Analysts see this pullback as a natural pause ahead of crucial Q1 earnings reports and the upcoming union budget, potentially setting the stage for future growth.

The barometer index, the S&P BSE Sensex, fell 426.87 points or 0.53% to 79,924.77. The Nifty 50 index declined 108.75 points or 0.45% to 24,324.45.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 20 points increase for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 314.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,416.46 crore in the Indian equity market on 9 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 7250.10 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stock markets were mixed on Wednesday after the comments made by Federal Reserve Chair Jerome Powell provided little indication about the timing of expected U.S. rate cuts later this year, despite signaling increased confidence in the moderation of inflation.

Japan's wholesale inflation accelerated in June due to a weaker yen and rising import costs. This is likely to lead to an interest rate hike by the central bank in the near future. Wholesale inflation rose 2.9% year-on-year in June, the fastest pace since August 2023. The index hit a record high for the seventh consecutive month.

Chinese consumer inflation shrank in June amid persistent economic concerns, limiting spending, while producer inflation contracted for a 20th consecutive month, though at a slower pace. Consumer price index inflation grew 0.2% year-on-year in June, down from 0.3% in the prior month.

In US, the S&P 500 and Nasdaq closed at record highs on Tuesday, extending their winning streak to six days. This surge comes as investors remain optimistic about potential interest rate cuts by the Federal Reserve. However, the Dow Jones Industrial Average ended the day slightly down. The recent US economic slowdown has fueled expectations of the Fed easing monetary policy to boost the economy.

Domestic Market:

The domestic stock market advanced Tuesday, with the Nifty50 decisively breaching the 24,400 level. Sectors like autos, consumer durables, and pharma fueled the rally. This positive sentiment was bolstered by strength in other Asian markets. All eyes are now on the upcoming Q1 earnings season, kicking off this week, and the budget on July 23rd, which could provide further direction for the market.

The S&P BSE Sensex rose 391.26 points or 0.49% to 80,351.64. The Nifty 50 index added 112.65 points or 0.46% to 24,433.20. Both the indices attained record closing high levels.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 9 points increase for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 60.98 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,866.79 crore in the Indian equity market on 8 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 6935.64 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks rose broadly, mirroring another record close for the S&P 500, as investors awaited Federal Reserve Chair Jerome Powell's testimony before Congress and the kick-off of the U.S. earnings season.

Powell's testimony, starting Tuesday, will be scrutinized for clues about the Fed's monetary policy direction. He faces conflicting pressures from lawmakers: some urging interest rate cuts and others critical of the Fed's recent plans to tighten regulations on Wall Street banks.

In the U.S., both the S&P 500 and Nasdaq indexes extended their gains on Monday, reaching new all-time highs. Investors are looking ahead to key inflation data due later this week.

Domestic Market:

The domestic stocks closed flat Monday with a slight downward tilt. After a brief morning rise, the Nifty 50 settled below 24,350, weighed down by profit booking. FMCG and oil & gas stocks found favor, while PSU banks and consumer durables took a hit. The lack of fresh positive triggers seems to be ushering in a consolidation phase. The market's next move will likely depend on upcoming Q1FY25 results before the major budget announcements later this month.

The barometer index, the S&P BSE Sensex was down 36.22 points or 0.05% to 79,960.38. The Nifty 50 index shed 3.30 points or 0.01% to 24,320.55.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 18.50 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,241.33 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,651.36 crore in the Indian equity market on 5 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 6874.66 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

US stock index futures drifted lower in Asian trade. The Dow Jones index futures were down 60 points, indicating a weak opening in the US stocks today.

Asian stocks tumbled on Monday, with China leading the decline. Investor concerns swirled around a potential trade war with the West, fueled by the EU's tariffs on Chinese electric vehicles mirroring similar US actions. This escalation heightened fears of a wider conflict and retaliation from China. Additionally, disappointing economic data from Japan and Australia dampened overall sentiment.

In stark contrast, US stocks soared on Friday, reaching record highs. Investors interpreted a weaker-than-expected jobs report as a sign of potential future interest rate cuts from the Federal Reserve. The S&P 500 and Nasdaq both closed at all-time highs, while the Dow Jones also gained slightly.

The US economy added 206,000 new nonfarm jobs in June, exceeding economist expectations. However, the unemployment rate rose slightly to 4.1%, which was unexpected. All eyes are now on Fed Chair Jerome Powell's comments and key inflation data this week for further clues on the direction of US monetary policy.

Domestic Market:

The headline equity indices ended almost flat on Friday. Nervous investors cashed in profits at higher levels, with valuations remaining a concern. The Nifty held its ground around 24,300 after an early dip. Oil & gas, pharma, and PSU banks provided some pockets of strength. All eyes now shift to the US jobs data later today, which could influence the Fed's rate cut decision and potentially impact our markets. In the barometer index, the S&P BSE Sensex was down 53.07 points or 0.07% to 79,996.60. The Nifty 50 index added 21.70 points or 0.09% to 24,323.85.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 21.50 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,575.85 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,375.18 crore in the Indian equity market on 4 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 5633.33 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian shares traded mostly higher on Friday, lifted by expectations of the U.S. Federal Reserve cutting interest rates in September. This positive investor sentiment was further bolstered by the euro's rise to a three-week high in anticipation of the French elections.

Japan's household spending dropped to 1.8% in May, falling short of expectations for a 0.1% gain. This metric is closely watched by the Bank of Japan as an indicator of a healthy economic cycle where wages and prices rise together.

The United States stock market was closed on Thursday, July 4th, in observance of Independence Day.

Domestic Market:

Domestic markets continued their winning streak for a second day Thursday, mirroring positive vibes across Asia. The session started with a bang, echoing the bullish sentiment from the region. While some profit taking emerged at higher levels, leading the benchmarks to settle near flat line with minimal gains. This volatility can be partly attributed to the expiry of weekly index options on the NSE. However, the key takeaway remains impressive - both Sensex and Nifty scaled new highs, comfortably closing above 80,000 and 24,300 respectively. Pharma, healthcare, and IT sectors led the charge. Looking ahead, strong buying from FIIs and a favorable US bond yield environment suggest the bullish trend could persist, despite potential short-term corrections.

The S&P BSE Sensex added 62.87 points or 0.08% to 80,049.67. The Nifty 50 index rose 15.65 points or 0.06% to 24,302.15. Both the indices attained record closing levels.