24.4 C
New York
HomeTop Global NewsMarketsGift Nifty points to positive opening | Capital Market News

Gift Nifty points to positive opening | Capital Market News


GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 15 points rise for the Nifty 50 index.

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 924.43 crore in the Indian equity market on 3 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 3057.48 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks surged after Wall Street indexes, including the S&P 500 and NASDAQ Composite, hit record highs in holiday-shortened trading. Weak labor data, along with purchasing managers index readings, fueled investor bets on a 25 basis point rate cut by the Federal Reserve in September.

Meanwhile, minutes from the Fed meeting revealed concerns about a slowing economy and subsiding inflation, but officials desire additional data to justify rate cuts, leaving investors in wait-and-see mode.

Domestic Market:

Domestic shares surged Wednesday, with the Sensex breaching the historic 80,000 mark and the Nifty settling above 24,250. Private banks, led by HDFC Bank, emerged as major gainers. Positive sentiment stemmed from multiple factors, including the revival of monsoon rains, strong GST collections in June, a rebound in manufacturing PMI, and expectations of healthy corporate earnings for Q1. The upcoming budget, with its potential for expanded PLI schemes in various sectors, further fueled optimism. Strong global cues also aided the positive sentiment.

In the barometer index, the S&P BSE Sensex was up 545.35 points or 0.69% to 79,986.80. The Nifty 50 index gained 162.65 points or 0.67% to 24,286.50. Both these indices settled at record closing high levels.

Powered by Capital Market – Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Jul 04 2024 | 8:15 AM IST



Source link

latest articles

explore more

LEAVE A REPLY

Please enter your comment!
Please enter your name here