Nifty Reaches New All-Time High: Positive market sentiment observed among investors!

Sensex trading higher by 0.19 per cent while Nifty also gained by 0.15 per cent.

Market Update at 12:45 PM: In the current trading session benchmark indices have surged with Sensex trading higher by 0.19 per cent while Nifty also gained by 0.15 per cent.

Whereas, in the broader indices Nifty Mid-cap has soared 0.07 per cent, while Nifty Small-cap has gained by 0.30 per cent.

India VIX is has increased by 0.81 per cent, indicating a slight increase in market volatility.

European stocks are poised to open on muted note on Tuesday, European futures DAX, CAC and FTSE trade lower by 0.68 per cent, 0.85 per cent and 0.16 per cent respectively. Economic sentiment and US retail sales are key drivers for DAX movements. Economic sentiment and US retail sales are key drivers for DAX movements.

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About 2,207 stocks are advancing as against to 1,563 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, Benchmark indices are trading on a positive note with Sensex trading higher by 0.27 per cent, making a new record high of 80,849.40 level while Nifty soared by 0.27 per cent and made a new all-time high at 24,652.25 level.

Similarly in the broader indices Nifty Mid-cap experience gains of 0.33 per cent, while Nifty Small-cap has surged by 0.59 per cent.

India VIX is has soared by 1.99 per cent, indicating an increase in market volatility.

Within the sectoral landscape, Nifty Realty, Nifty Energy and Nifty Metal are among the top gainers while Nifty Healthcare, Nifty Pharma and Nifty Financial services are among the top losers.

Top gainers in individual stocks are Coal India, Bharat Petroleum Corporation and Hindustan Unilever whereas, Kotak Mahindra Bank, Shriram Transport Finance Company and SBI Life Insurance Company are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 2,333 stocks advancing compared to 1,315 stocks declining.

Market Update at 9:25 AM: 

The NSE benchmark Nifty50 index reached a new all-time high on Tuesday. The index opened at 24,615.90 and surged to 24,650.05, driven by strong performances from ICICI Bank, Bharti Airtel, and M&M. 

Key factors boosting the Indian markets included:

1. Federal Reserve Rate Cut Expectations: Optimism grew that the Federal Reserve might reduce interest rates at its September meeting. This anticipation was fueled by the June Consumer Price Index (CPI) decreasing for the first time on a monthly basis in nearly two years, suggesting that a rate cut could be imminent.

2. Dovish Tone from Fed Chief: Federal Reserve Chairman Jerome Powell's comments were perceived as dovish towards inflation. As a result, futures traders now see an 89 per cent chance of a quarter-percentage point rate cut in September, up from 71 per cent a week ago.

3. Political Considerations: Investors are also weighing the potential impact of another Trump presidency on the markets.

These elements collectively contributed to the record-breaking performance of the Nifty50 index.

Pre-Market Update at 8:45 AM: Wall Street closed higher on Monday, with the S&P 500 and Dow Jones at 0.28 per cent and 0.53 per cent respectively.

Furthermore, the Nasdaq gained 0.40 per cent to 18,477.57 points.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a slight gain of 0.05 per cent or 13.50 points.

Following the pattern, there was a decline in oil prices on Monday as the dollar strengthened amid political uncertainty in the U.S. following an attack on presidential candidate Donald Trump.

Brent crude 0.20 per cent, to USD 84.68 a barrel. Additionally, U.S. West Texas Intermediate crude fell 0.23 per cent, to USD 81.72 a barrel.

On July 15, 2024, foreign institutional investors (FII) bought shares worth Rs 2,684.78 crore, while domestic institutional investors (DII) offloaded shares worth Rs 331.00 crore.

Disclaimer: The article is for informational purposes only and not investment advice.