Share Market News

GIFT Nifty:

The Nifty 50 index is expected to open 13.50 points higher based on GIFT Nifty futures.

Foreign portfolio investors (FPIs) bought shares worth Rs 4,021.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,651.45 crore in the Indian equity market on 12 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 10718.65 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks traded mixed on Monday, influenced by contrasting factors.

China's economic growth fell short of expectations in the second quarter, dampening sentiment. The country's GDP expanded by 4.7% year-on-year, slowing from the previous quarter's 5.3%. Additionally, uncertainty surrounding U.S. politics, following an assassination attempt on former President Donald Trump, added to market volatility.

However, losses were tempered by a positive close on Wall Street on Friday, where major indexes approached record highs amid growing expectations of interest rate cuts. Wall Street futures remained modestly positive in Asian trading hours, although the impact of the attempted assassination on the 2024 presidential race remains unclear. Trump is scheduled to be officially nominated as the Republican presidential candidate at this week's party convention.

Domestic Market:

The domestic equities surged Friday, with the Nifty50 closing near 24,500, driven by a strong showing from IT stocks. Positive sentiment was fueled by TCS's robust earnings and easing US inflation, boosting hopes of a September rate cut. However, with the earnings season in full swing and the union budget looming, expect more stock-specific action in the coming days. The barometer index, the S&P BSE Sensex, was up 622 points or 0.78% to 80,519.34. The Nifty 50 index gained 186.20 points or 0.77% to 24,502.15. The Sensex and Nifty clocked an all-time high of 80,893.51 and 24,592.20 respectively in mid-morning trade.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a flat opening for the Nifty 50 index.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,137.01 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,676.47 crore in the Indian equity market on 11 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 6697.05 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks traded mixed on Friday, with technology-heavy indexes plunging as investors cashed in on recent gains.

Regional markets largely mirrored the previous day's sell-off on Wall Street, where heavyweight technology stocks, especially chipmakers and AI-related companies, faced significant profit-taking pressure. The Nasdaq Composite index plummeted nearly 2%.

The decline in equities coincided with softer-than-expected US consumer price index data for June, which fueled expectations of potential Federal Reserve interest rate cuts as early as September. Investors shifted their focus to economically sensitive sectors poised to benefit from lower borrowing costs.

While the Dow Jones Industrial Average edged up 0.1%, the broad-based S&P 500 fell 0.9%. The tech-heavy Nasdaq Composite Index ended a seven-day winning streak with a 2% drop.

US Consumer Price Index (CPI) rose 3% year-over-year, down from 3.3% in May. The annual core CPI, excluding volatile food and energy prices, increased by 3.3%, slowing from the previous month's 3.4%. On a monthly basis, overall CPI dipped 0.1%, while core CPI edged up 0.1%.

Domestic Market:

The key equity benchmarks ended flat Thursday after a volatile session marked by F&O expiry. The index opened positive, mirroring global gains, but quickly reversed course amid selling pressure. However, a late rally helped it recover lost ground. Realty, healthcare, and pharma dragged, while oil & gas and consumer durables led the gainers. The barometer index, the S&P BSE Sensex, was down 27.43 points or 0.03% to 79,897.34. The Nifty 50 index lost 8.50 points or 0.03% to 24,315.95.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 17.50 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 583.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,082.40 crore in the Indian equity market on 10 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 7834.06 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks surged on Thursday, fueled by tech gains and record highs in Japan, after chipmaker TSMC's strong revenue boosted optimism for AI. TSMC's record revenue in June, driven by surging AI demand, pushed its share price up nearly 2% in Taiwan.

The rally followed a surge on Wall Street overnight, where the S&P 500 and NASDAQ hit records on hopes of a soft economic landing and potential Fed rate cuts later this year. All eyes are now on upcoming consumer inflation data, which will heavily influence the Fed's decision on interest rates.

Domestic Market:

The domestic stocks closed slightly lower on Wednesday after setting new record highs earlier in the day. The Nifty ended below 24,350, despite early gains. Sectors like pharma, healthcare and FMCG saw buying interest, while autos and metals sold off. Analysts see this pullback as a natural pause ahead of crucial Q1 earnings reports and the upcoming union budget, potentially setting the stage for future growth.

The barometer index, the S&P BSE Sensex, fell 426.87 points or 0.53% to 79,924.77. The Nifty 50 index declined 108.75 points or 0.45% to 24,324.45.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 20 points increase for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 314.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,416.46 crore in the Indian equity market on 9 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 7250.10 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stock markets were mixed on Wednesday after the comments made by Federal Reserve Chair Jerome Powell provided little indication about the timing of expected U.S. rate cuts later this year, despite signaling increased confidence in the moderation of inflation.

Japan's wholesale inflation accelerated in June due to a weaker yen and rising import costs. This is likely to lead to an interest rate hike by the central bank in the near future. Wholesale inflation rose 2.9% year-on-year in June, the fastest pace since August 2023. The index hit a record high for the seventh consecutive month.

Chinese consumer inflation shrank in June amid persistent economic concerns, limiting spending, while producer inflation contracted for a 20th consecutive month, though at a slower pace. Consumer price index inflation grew 0.2% year-on-year in June, down from 0.3% in the prior month.

In US, the S&P 500 and Nasdaq closed at record highs on Tuesday, extending their winning streak to six days. This surge comes as investors remain optimistic about potential interest rate cuts by the Federal Reserve. However, the Dow Jones Industrial Average ended the day slightly down. The recent US economic slowdown has fueled expectations of the Fed easing monetary policy to boost the economy.

Domestic Market:

The domestic stock market advanced Tuesday, with the Nifty50 decisively breaching the 24,400 level. Sectors like autos, consumer durables, and pharma fueled the rally. This positive sentiment was bolstered by strength in other Asian markets. All eyes are now on the upcoming Q1 earnings season, kicking off this week, and the budget on July 23rd, which could provide further direction for the market.

The S&P BSE Sensex rose 391.26 points or 0.49% to 80,351.64. The Nifty 50 index added 112.65 points or 0.46% to 24,433.20. Both the indices attained record closing high levels.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 9 points increase for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 60.98 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,866.79 crore in the Indian equity market on 8 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 6935.64 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks rose broadly, mirroring another record close for the S&P 500, as investors awaited Federal Reserve Chair Jerome Powell's testimony before Congress and the kick-off of the U.S. earnings season.

Powell's testimony, starting Tuesday, will be scrutinized for clues about the Fed's monetary policy direction. He faces conflicting pressures from lawmakers: some urging interest rate cuts and others critical of the Fed's recent plans to tighten regulations on Wall Street banks.

In the U.S., both the S&P 500 and Nasdaq indexes extended their gains on Monday, reaching new all-time highs. Investors are looking ahead to key inflation data due later this week.

Domestic Market:

The domestic stocks closed flat Monday with a slight downward tilt. After a brief morning rise, the Nifty 50 settled below 24,350, weighed down by profit booking. FMCG and oil & gas stocks found favor, while PSU banks and consumer durables took a hit. The lack of fresh positive triggers seems to be ushering in a consolidation phase. The market's next move will likely depend on upcoming Q1FY25 results before the major budget announcements later this month.

The barometer index, the S&P BSE Sensex was down 36.22 points or 0.05% to 79,960.38. The Nifty 50 index shed 3.30 points or 0.01% to 24,320.55.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 18.50 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,241.33 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,651.36 crore in the Indian equity market on 5 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 6874.66 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

US stock index futures drifted lower in Asian trade. The Dow Jones index futures were down 60 points, indicating a weak opening in the US stocks today.

Asian stocks tumbled on Monday, with China leading the decline. Investor concerns swirled around a potential trade war with the West, fueled by the EU's tariffs on Chinese electric vehicles mirroring similar US actions. This escalation heightened fears of a wider conflict and retaliation from China. Additionally, disappointing economic data from Japan and Australia dampened overall sentiment.

In stark contrast, US stocks soared on Friday, reaching record highs. Investors interpreted a weaker-than-expected jobs report as a sign of potential future interest rate cuts from the Federal Reserve. The S&P 500 and Nasdaq both closed at all-time highs, while the Dow Jones also gained slightly.

The US economy added 206,000 new nonfarm jobs in June, exceeding economist expectations. However, the unemployment rate rose slightly to 4.1%, which was unexpected. All eyes are now on Fed Chair Jerome Powell's comments and key inflation data this week for further clues on the direction of US monetary policy.

Domestic Market:

The headline equity indices ended almost flat on Friday. Nervous investors cashed in profits at higher levels, with valuations remaining a concern. The Nifty held its ground around 24,300 after an early dip. Oil & gas, pharma, and PSU banks provided some pockets of strength. All eyes now shift to the US jobs data later today, which could influence the Fed's rate cut decision and potentially impact our markets. In the barometer index, the S&P BSE Sensex was down 53.07 points or 0.07% to 79,996.60. The Nifty 50 index added 21.70 points or 0.09% to 24,323.85.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 21.50 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,575.85 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,375.18 crore in the Indian equity market on 4 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 5633.33 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian shares traded mostly higher on Friday, lifted by expectations of the U.S. Federal Reserve cutting interest rates in September. This positive investor sentiment was further bolstered by the euro's rise to a three-week high in anticipation of the French elections.

Japan's household spending dropped to 1.8% in May, falling short of expectations for a 0.1% gain. This metric is closely watched by the Bank of Japan as an indicator of a healthy economic cycle where wages and prices rise together.

The United States stock market was closed on Thursday, July 4th, in observance of Independence Day.

Domestic Market:

Domestic markets continued their winning streak for a second day Thursday, mirroring positive vibes across Asia. The session started with a bang, echoing the bullish sentiment from the region. While some profit taking emerged at higher levels, leading the benchmarks to settle near flat line with minimal gains. This volatility can be partly attributed to the expiry of weekly index options on the NSE. However, the key takeaway remains impressive - both Sensex and Nifty scaled new highs, comfortably closing above 80,000 and 24,300 respectively. Pharma, healthcare, and IT sectors led the charge. Looking ahead, strong buying from FIIs and a favorable US bond yield environment suggest the bullish trend could persist, despite potential short-term corrections.

The S&P BSE Sensex added 62.87 points or 0.08% to 80,049.67. The Nifty 50 index rose 15.65 points or 0.06% to 24,302.15. Both the indices attained record closing levels.

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.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 18.50 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,000.12 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 648.25 crore in the Indian equity market on 2 July 2024, provisional data showed.

FPIs have sold shares worth over Rs 2426.15 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian stocks rose today as investors weighed the possibility of interest rate cuts by the Federal Reserve. This follows comments from Jerome Powell, Chair of the Fed, suggesting recent economic data, including a slowdown in China's service sector, points towards disinflation.

China's Caixin Services PMI for June came in at 51.2, down from 54.0 in May. While still indicating expansion, the pace of growth has weakened.

US stocks continued their upward climb on Tuesday. Investors reacted positively to Powell's comments regarding the "disinflationary path" of the economy, despite data showing a higher-than-expected number of job openings in May (8.14 million). The S&P 500 closed above 5,500 for the first time ever, the Nasdaq Composite achieved a record close, and the Dow Jones Industrial Average also advanced.

While encouraged by cooler inflation, Powell emphasized the need for further evidence before the Fed cuts rates. He noted that recent inflation readings "suggest" a path towards disinflation, but caution is warranted.

Domestic Markets:

The equity benchmarks ended flat Tuesday after early gains fizzled. Profit booking set in after the key indices touched record highs, with banking and FMCG stocks leading the decline. IT stocks provided the lone bright spot. Investors now turn their attention to key US data points, including jobs figures and the Fed Chair's speech, for clues on the future trajectory of interest rates. In the barometer index, the barometer index, the S&P BSE Sensex was down 34.74 points or 0.04% to 79,441.45. The Nifty 50 index lost 18.10 points or 0.07% to 24,123.85.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 22.50 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) sold shares worth Rs 426.03 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,917.43 crore in the Indian equity market on 1 July 2024, provisional data showed.

FPIs have bought shares worth over Rs 426.03 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024.

Global Markets:

Asian markets lacked a clear direction, contrasting with a positive close on Wall Street led by tech stocks.

Megacap growth stocks, like Apple and Tesla, propelled the tech-heavy Nasdaq to a strong start for the new quarter. The broader market also participated in the gains, with the Dow and S&P 500 edging higher in pre-holiday trading.

Investors are awaiting key U.S. labor market data later this week, hoping for insights into the Federal Reserve's interest rate plans. The Dow Jones Industrial Average rose 0.13%, the S&P 500 gained 0.27%, and the Nasdaq Composite surged 0.83%. Notably, the tech sector jumped 1.3% in the first trading session of July.

While the US manufacturing PMI data for June indicated continued contraction, a bright spot emerged: prices paid dropped to a six-month low. This could be a welcome sign for the Fed's fight against inflation. Despite this, market expectations remain for around two interest rate cuts later this year, beginning in September, according to LSEG FedWatch.

Domestic Markets:

Monday's market saw a measured rise, closing the day with the Nifty50 above 24,100. IT and financial services led the charge. Global stocks advanced amid hopes of a potential Fed rate cut in September. This optimism stemmed from lower-than-expected US inflation data (PCE). Investors are looking ahead to US jobs data and the Fed Chair's speech for further clues on interest rates. In the barometer index, the S&P BSE Sensex was up 443.46 points or 0.56% to 79,476.19. The Nifty 50 index added 131.35 points or 0.55% to 24,141.95. Both these indices attained record closing high levels today.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 5.50 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) sold shares worth Rs 23.09 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 6,658.31 crore in the Indian equity market on 28 June 2024, provisional data showed.

FPIs have bought shares worth over Rs 2037.47 crore in June 2024 (so far). They offloaded shares worth 42214.28 crore in May 2024.

Global Markets:

Asian stocks were trading higher on Monday as traders pondered the US rates outlook.

Japan's economy contracted more than expected in the first quarter of 2024, shrinking 2.9% year-on-year. This decline was primarily driven by a decrease in consumer spending amid stagnant wages and persistent inflation.

Meanwhile, China presented a mixed picture. According to a private survey (Caixin PMI), China's manufacturing activity in June grew more than anticipated, reaching 51.8, compared to the prior month’s reading of 51.7. This is in contrast to an official government PMI survey released on Sunday, which indicated a contraction in the manufacturing sector for the second consecutive month in June. China's manufacturing PMI came in at 49.5 in June 2024, unchanged from May.

It's important to note that these surveys cover different segments of the Chinese economy. The Caixin survey focuses on smaller, private businesses in southern China, while the official survey leans towards larger, state-run businesses in the north. This difference in focus may contribute to the contrasting results.

In the Europe, the far-right secured a slightly smaller portion of the vote during the initial phase of France's unexpected snap election than anticipated by certain polls. According to exit polls, Marine Le Pen's eurosceptic National Rally was the leading party in the first round of the French election but received a lesser number of votes than predicted by several analysts. This surprising electoral outcome has caused disruptions in the markets, especially as both the far-right and the second-place left-wing coalition have promised significant increases in spending. This occurs amidst France facing a high budget deficit, leading the EU to suggest disciplinary actions.

US stocks closed slightly lower on Friday after initial gains, as investors weighed mixed economic signals. The S&P 500 dipped 0.41%, and the Nasdaq Composite fell 0.71%. Both indexes reached new intraday highs earlier but retreated later. The Dow Jones Industrial Average shed a modest 0.12%.

Positive economic data painted a conflicting picture. The Commerce Department reported that US inflation in May slowed to its lowest annual rate in over three years. The core personal consumption expenditures price index, excluding volatile food and energy prices, rose just 0.1% in June and 2.6% year-over-year. However, consumer sentiment remained strong. The University of Michigan consumer sentiment index for June exceeded expectations, rising to 68.2 from a preliminary reading of 65.6. Additionally, the one-year inflation outlook dropped to 3% from 3.3% expected in May.

Domestic Markets:

Domestic equity benchmarks gave back some early gains Friday, ending with small losses after a four-day winning streak. Profit taking in private and financial stocks weighed on the market, while oil & gas, healthcare and PSU banks bucked the trend. High valuations remain a concern for some traders. The barometer index, the S&P BSE Sensex, was down 210.45 points or 0.27% to 79,032.73. The Nifty 50 index shed 39.90 points or 0.14% to 24,010.60. The 50 unit index rose 2.31% in the past four sessions.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 16 points rise for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 7,658.77 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,605.93 crore in the Indian equity market on 27 June 2024, provisional data showed.

FPIs have bought shares worth over Rs 2060.56 crore in June 2024 (so far). They offloaded shares worth 42214.28 crore in May 2024.

Global Markets:

Asian stocks are headed for gains on Friday. All eyes on U.S. core PCE data later today, which could solidify expectations of a Fed rate cut.

Tokyo consumer prices rose in June. While headline Consumer Price Index (CPI) inflation rose to 2.3% year-on-year in June, compared to 2.2% in May, core inflation print that excludes both fresh food and energy prices, grew to 1.8% in June from 1.7% in May.

US stock market ended with minor gains on Thursday as treasury yields eased ahead of the fresh inflation data. The Dow Jones Industrial Average gained 0.09%, while the S&P 500 rose 0.09%. The Nasdaq Composite ended 0.30%.

Alphabet shares rose 0.83% and Meta Platforms stock price gained 1.25%. Amazon shares rallied 2.19%, while Nvidia shares declined 1.90%.

Domestic Markets:

Domestic equity barometers stocks notched gains for a fourth day on Thursday, capping a volatile session fueled by monthly derivatives expiry. The Nifty50 index climbed above 24,000, shrugging off early weakness. IT, oil & gas, and auto stocks led the advance, reflecting optimism around specific sectors. However, broader market participation remained subdued due to valuation worries and foreign investor selling amid rising US yields. The global market picture offered little direction, with caution prevailing ahead of crucial US economic data releases that could influence future interest rate decisions.

The barometer index, the S&P BSE Sensex, was up 568.93 points or 0.72% to 79,243.18. The Nifty 50 index gained 175.70 points or 0.74% to 24,044.50. Both the indices hit record closing high levels. The 50 unit index has risen 2.31% in four straight sessions.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 11 points rise for the Nifty 50 index.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,535.43 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 5,103.67 crore in the Indian equity market on 25 June 2024, provisional data showed.

Global Markets:

Dow Jones futures are trading down 111 points, indicating a weak opening in the US stocks later today.

Most Asian stocks fell on Thursday as technology shares tracked weakness in their U.S. peers following underwhelming guidance from chipmaking major Micron.

Chinese markets extended losses as lackluster industrial profit data and ongoing trade war anxieties dampened investor confidence. China's industrial profits rose a meager 0.7% year-over-year in May, down from 4.0% growth in April.

US stocks ended a smidge higher in choppy trade. Middling revenue outlook triggered a selloff in chip stocks. Investor sentiment remained cautious ahead of key U.S. data releases, including the PCE price index and the much-anticipated Presidential debate.

Micron plunged nearly 8% in extended trading. Despite exceeding quarterly earnings expectations, the company's revenue guidance for the current quarter fell short of investor hopes, raising concerns about the sustainability of the AI-fueled demand boom. This disappointment also spurred some profit-taking in the previously hot tech sector.

Domestic Markets:

Domestic equity benchmarks continued their upward trajectory Wednesday, marking their third consecutive day of gains. The Nifty50 crossed a significant milestone, settling above the 23,850 mark for the first time. The surge was driven by buying in banking, oil & gas, and telecom heavyweights. The barometer index, the S&P BSE Sensex, was up 620.73 points or 0.80% to 78,674.25. The Nifty 50 index gained 147.50 points or 0.62% to 23,868.80. Both the indices hit record closing high levels. The 50 unit index has risen 1.56% in three straight sessions.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 26 points rise for the Nifty 50 index.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,175.91 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 149.45 crore in the Indian equity market on 25 June 2024, provisional data showed.

FPIs have sold shares worth over Rs 2062.78 crore in June 2024 (so far). They offloaded shares worth 42214.28 crore in May 2024.

Global Markets:

Asian stocks were mixed today, mirroring the cautious sentiment on Wall Street. While cyclical sectors underperformed in the US, the tech-heavy Nasdaq surged on Tuesday.

In the US, investors awaited key inflation data due later this week, with some Federal Reserve officials acknowledging inflationary risks.

The US consumer confidence index dipped slightly to 100.4 from a downwardly revised 101.3 in May, reflecting a more cautious outlook on business conditions, jobs, and income. This could signal potential headwinds for consumer spending, a key driver of economic growth.

Market participants are closely watching the release of the personal consumption expenditures (PCE) price index on Friday. This data point, the Fed's preferred inflation gauge, will be crucial for assessing future monetary policy decisions.

Domestic Markets:

Domestic equity benchmarks soared to new highs Tuesday, buoyed by strong performances from private banks. The Sensex and Nifty both notched record closing levels, with the Nifty breaching the 23,700 mark. Pre-budget optimism and positive monsoon expectations boosted sentiment. However, some profit-taking weighed on realty, metals, and power stocks, highlighting sector rotation as the market navigates its upward climb. The barometer index, the S&P BSE Sensex, was gained 712.44 points or 0.92% to 78,053.52. The Nifty 50 index rallied 183.45 points or 0.78% to 23,721.30.

GIFT Nifty:

Early indications from GIFT Nifty futures point towards a 9 points decline for the Nifty 50 index.

Foreign portfolio investors (FPIs) sold shares worth Rs 653.97 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 820.47 crore in the Indian equity market on 24 June 2024, provisional data showed.

FPIs have sold shares worth over Rs 3238.69 crore in June 2024 (so far). They offloaded shares worth 42214.28 crore in May 2024.

Economy:

India's telecom spectrum auction starts today (June 25th) offering airwaves worth Rs 96,318 crore. The government reportedly aims for Rs 10,000 crore. This auction includes frequencies from 800 MHz to 26 GHz bands and offers 20-year validity with options for sharing or surrendering spectrum after 10 years.

Global Markets:

Asian shares traded cautiously on Tuesday, with investor eyes set on Friday's crucial U.S. inflation data. The upcoming U.S. presidential debate on Thursday and the first French election round this weekend are also adding to the cautious sentiment, as investors weigh potential political impacts on their holdings.

Wall Street closed with mixed results overnight. The Nasdaq suffered a significant drop of over 1%, led by a 7% plunge in AI leader Nvidia. This decline suggests investors are shifting out of technology stocks for now. However, the Dow Jones bucked the trend, climbing 0.7% to reach a one-month high. The S&P 500 ended slightly lower, down 0.31%.

Domestic Markets:

Domestic stocks clawed their way back after a shaky start today, closing with modest gains. The Nifty 50 even dipped to 23,350 in early trade but recovered by midday, fueled by auto, consumer durables, and FMCG stocks. Sectoral shuffling was seen as investors weighed pre-budget expectations and hunted for bargains. The Sebi's probe into Quant Mutual Fund cast a minor shadow, but overall, the mood was cautiously optimistic. The barometer index, the S&P BSE Sensex, was up 131.18 points or 0.17% to 77,341.08. The Nifty 50 index rose 36.75 points or 0.16% to 23,537.85.