Domestic indices struggle to gain momentum

The BSE Sensex edged down by 0.07 per cent reaching a level of 79,585. The Nifty 50 index fell 0.10 per cent to the 24,322 level.

Market Update at 9:30 AM: Indian frontline indices opened today's trading session slightly lower, impacted by losses in the banking and financial services sectors.

At 9:30 am, the BSE Sensex edged down by 0.07 per cent reaching a level of 79,585. The Nifty 50 index fell 0.10 per cent to the 24,322 level. 

Considering sectoral developments, Nifty Consumer Durables and Nifty Healthcare were among the top gainers, while Nifty Financial Services and Nifty Bank were notable laggards.

Within the Nifty 50, Apollo Hospitals, Bharti Airtel and Tata Consultancy Services were among the leading gainers, whereas HDFC Bank, Bharat Petroleum Corporation and Shriram Finance were among the market draggers. With 1,298 shares rising on the NSE and 989 shares declining, the advance-decline ratio remained in favour of advances.

Pre-Market Update at 8:00 AM: U.S. stocks fluctuated overnight but sustained the upward momentum from late last week as investors anticipated key inflation data. Market sentiment was mixed as the S&P 500 ended flat with marginal gains, the Dow Jones Industrial Average fell by 0.36 per cent, while the Nasdaq Composite Index gained 0.21 per cent.

Most Asian markets are showing renewed investor confidence today, while the yen slipped in anticipation of U.S. data. GIFT Nifty indicated a subdued start for the domestic indices in today’s trading session.

Oil prices soared for the fifth consecutive session on Monday, supported by diminishing U.S. recession fears and heightened supply risks in the Middle East.

On August 12, foreign institutional investors (FIIs) sold shares worth Rs 4,680.51 crore, while domestic institutional investors (DIIs) made a sizeable inflow of Rs 4,477.73 crore.

The market experienced heightened volatility yesterday, but Adani Group stocks were less affected than expected. The government reiterated that SEBI and its chairperson have already addressed the issue, with nothing further to add. Do you think Adani stocks will withstand this challenge, or could they fall out of favour with investors?