Pre market: Things to know before the stock market opens!
Profit booking dominated the market ahead of the Union Budget on July 23, causing major indices to end the day in the red.
Market Update at 9:45 AM: On Monday, Indian markets opened trading session on a muted note. In contrast to this, the Broader indices displayed positive performance.
The Sensex is trading down by 0.26 per cent above the 80,392.56 mark while the Nifty has also dipped by 0.25 per placed at 24,466.55 level.
Whereas, in the broader, the Nifty Mid-cap soared by 0.31 per cent trading below the 56,061 level and the Nifty Small-cap rallied by 0.43 per cent.
India VIX has surged by 3.46 per cent, indicating an increase in market volatility.
Within the sectoral landscape Nifty PSU Bank, Nifty Auto and Nifty Pharma was among the top gainers while Nifty Realty and Nifty IT are the major sectors which is underperformed!
About 1,803 stocks are advancing as against to 1,462 stocks that are declining, thus indicating a positive sentiment in the broader market.
On July 19, profit booking dominated the market ahead of the Union Budget on July 23, causing major indices to end the day in the red.
By the close of trading, the Sensex had dropped 738.81 points or 0.91 per cent, settling at 80,604.65. Meanwhile, the Nifty fell by 269.90 points or 1.09 per cent, ending at 24,530.90. The GIFT Nifty is trading weak, suggesting a negative start for the upcoming session, with Nifty futures trading at 24,412.
In the U.S., stocks extended their decline on Friday due to lingering chaos related to a global technical outage caused by a software glitch, adding to market uncertainty. The Dow Jones Industrial Average fell by 377.49 points or 0.93 per cent, closing at 40,287.53. The S&P 500 lost 39.59 points or 0.71 per cent, ending at 5,505, and the Nasdaq Composite dropped 144.28 points or 0.81 per cent, finishing at 17,726.94.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
On a more positive note, oil prices rose in early trading on Monday as investors anticipated signs of a rate-cut cycle expected to begin as soon as September. This development provided some optimism in an otherwise anxious market environment.
In terms of institutional activity on July 19, foreign institutional investors (FIIs) purchased equities worth Rs 1,506 crore, while domestic institutional investors (DIIs) sold equities amounting to Rs 461 crore.
Disclaimer: The article is for informational purposes only and not investment advice.