Mumbai (Maharashtra) [India], Indian markets started the first week of July flat, with both major indices opening steady on Monday.
The Nifty 50 index remained above 24,000 levels and was trading at 24,022 after a marginal gain of 14 points at the time of this report. Similarly, the BSE Sensex held above 79,000 and opened flat with a gain of 40 points, reaching 79,086 points.
"The second half of the year begins today after a strong market performance in the first half of calendar year 2024. We expect large cap strength with the sector rotating towards IT, consumer goods and energy stocks. The budget of the Union and Q1 FY2025 remain the big catalysts this month for Indian markets Globally, election results in France and the UK will set the tone for Europe," said Ajay Bagga, Markets Expert and banking.
He also added, "Overall, Indian markets are expected to have a good July with consolidation around all-time highs followed by an upward push in the Union Budget."
In the Nifty 50 index, the top five gainers were JSW Steel, Bharti Airtel, Maruti, Bajaj Auto and Hero MotoCorp. On the contrary, top losers include NTPC, Power Grid, Apollo Hospitals, HDFC Life and Kotak Life.
In the broader National Stock Exchange market, all indices except the Nifty Midcap Select opened with gains on Monday. Among sectoral indices, Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Private Bank and Nifty Realty saw declines in early trade.
In broader Asian markets, Japan's Nikkei 225 and Topix indices showed gains, while South Korea's Kospi index saw a slight decline. Australian markets also saw a decline, while Hong Kong remained closed for a holiday.
In oil markets, crude oil prices saw marginal increases, with WTI trading at $81.84 and Brent at $85.28 per barrel. The US dollar index (DXY) fell 0.21 percent to 105.63, influencing global monetary dynamics.
Foreign portfolio investors (FPIs) significantly increased their investments in Indian stock markets in the last week of June, according to data from the National Securities Depository Limited (NSDL).
Net investment by FPIs stood at Rs 16,672.2 crore over the past week, with a notable rise on Friday alone amounting to Rs 6,966.08 crore. This rally marks a change in FPI sentiment for the month.
The Nifty 50 index remained above 24,000 levels and was trading at 24,022 after a marginal gain of 14 points at the time of this report. Similarly, the BSE Sensex held above 79,000 and opened flat with a gain of 40 points, reaching 79,086 points.
"The second half of the year begins today after a strong market performance in the first half of calendar year 2024. We expect large cap strength with the sector rotating towards IT, consumer goods and energy stocks. The budget of the Union and Q1 FY2025 remain the big catalysts this month for Indian markets Globally, election results in France and the UK will set the tone for Europe," said Ajay Bagga, Markets Expert and banking.
He also added, "Overall, Indian markets are expected to have a good July with consolidation around all-time highs followed by an upward push in the Union Budget."
In the Nifty 50 index, the top five gainers were JSW Steel, Bharti Airtel, Maruti, Bajaj Auto and Hero MotoCorp. On the contrary, top losers include NTPC, Power Grid, Apollo Hospitals, HDFC Life and Kotak Life.
In the broader National Stock Exchange market, all indices except the Nifty Midcap Select opened with gains on Monday. Among sectoral indices, Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Private Bank and Nifty Realty saw declines in early trade.
In broader Asian markets, Japan's Nikkei 225 and Topix indices showed gains, while South Korea's Kospi index saw a slight decline. Australian markets also saw a decline, while Hong Kong remained closed for a holiday.
In oil markets, crude oil prices saw marginal increases, with WTI trading at $81.84 and Brent at $85.28 per barrel. The US dollar index (DXY) fell 0.21 percent to 105.63, influencing global monetary dynamics.
Foreign portfolio investors (FPIs) significantly increased their investments in Indian stock markets in the last week of June, according to data from the National Securities Depository Limited (NSDL).
Net investment by FPIs stood at Rs 16,672.2 crore over the past week, with a notable rise on Friday alone amounting to Rs 6,966.08 crore. This rally marks a change in FPI sentiment for the month.
