Indian Markets open in green with Sensex making a new high above the 80,000 mark!
On Wednesday, Indian markets opened on a positive note, with Nifty and Sensex experiencing significant gains and making new record highs.
Market Update at 9:40 AM: On Wednesday, Indian markets opened on a positive note, with Nifty and Sensex experiencing significant gains and making new record highs. Similarly, the Broader indices also displayed resilience. Nifty Financial Services emerged as the top gainer, while Nifty IT experienced the largest losses.
The Sensex is trading up by 0.6 per cent making a record high at 80,039.22 mark while the Nifty has also surged by 0.58 per cent and made a new all-time high at 24,292.15 level. Similarly, in the broader, the Nifty Midcap gained by 0.5 per cent while the Nifty Smallcap surged by 0.59 per cent.
India VIX has slightly declined by 1 per cent and is trading below the mark of 14, indicating marginal decrease in market volatility.
Within the sectoral landscape Nifty Financial Services, Nifty Bank and Nifty PSU Bank were among the top gainers while Nifty IT is the only major sector which is underperforming.
HDFC Bank, Britannia and Axis Bank are among the top gainers within the Nifty 50 while TCS, Tata Motors and Infosys are among the top losers.
About 1636 stocks are advancing as against to 573 stocks that are declining, thus indicating a positive sentiment in the broader market.
DSIJ’s ‘Flash News Investment' weekly Newsletter recommends profit-making ideas for you based on fundamental and technical analysis. If this interests you, do download the service details here.
Pre-Market Update at 8:20 AM: U.S. stocks moved higher while U.S. Treasury yields dipped on Tuesday as markets assessed data indicating a persistently tight labour market and considered the potential for interest rate cuts following comments from Federal Reserve Chair Jerome Powell.
Speaking at a conference in Portugal, Powell emphasized the need for more data before cutting rates to ensure that recent weaker inflation readings accurately reflect underlying price pressures.
The Dow Jones Industrial Average increased by 0.41 per cent to 39,331.85, the S&P 500 climbed 0.62 per cent to 5,509.01, and the Nasdaq Composite advanced by 0.84 per cent to 18,028.76.
The U.S. 10-year Treasury yield stood at 4.42, and the 2-year Treasury yield remained flat at 4.74 in early Wednesday trading.
The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a slight decline of 0.09 per cent or 22 points. Nifty futures are currently trading near the 24,210.90 mark.
Oil prices inched higher in early Asian trading on Wednesday following industry data that revealed a larger-than-anticipated decline in U.S. crude inventories. This bolstered optimism for strong fuel demand during the summer driving season in the world's largest oil consumer.
Brent crude futures rose by 16 cents, or 0.2 per cent, to USD 85.60 a barrel. U.S. West Texas Intermediate crude futures increased by 14 cents, or 0.2 per cent, to USD 82.95 a barrel.
On July 02, 2024, foreign institutional investors (FII) sold shares worth Rs 2,000.12 crore, while domestic institutional investors (DII) bought shares worth Rs 648.25 crore.
Stocks that are banned for trading in the F&O segment on July 03, 2024, are INDIACEM and INDUSTOWER.