D-Street Poised for Upward Start

2 Jul 2024 , 08:47 AM

The benchmark indices, Sensex and Nifty 50, are expected to open on a positive note on July 2. As of 07:00 am IST, Nifty futures were trading at 24,245, indicating a potential uptick at the start of the trading session.

Market Performance on July 1

On July 1, Indian benchmark indices bounced back from previous session losses, driven by strong performances in the IT, auto, and FMCG sectors. The Sensex climbed 443.46 points, or 0.56%, to close at 79,476.19. Similarly, the Nifty rose by 131.40 points, or 0.55%, to end the day at 24,142.

Global Market Overview

Asian markets displayed mixed performances on Tuesday. This followed gains on Wall Street, where the Nasdaq Composite reached a new record high, propelled by tech stocks. Megacap growth stocks, particularly Apple and Tesla, drove the Nasdaq to a strong close on Monday. The Dow Jones Industrial Average increased by 50.66 points, or 0.13%, to finish at 39,169.52. The S&P 500 added 14.61 points, or 0.27%, closing at 5,475.09. Meanwhile, the Nasdaq Composite surged by 146.70 points, or 0.83%, to settle at 17,879.30.

FII and DII Activity

On July 1, foreign institutional investors (FIIs) sold equities worth ₹426 Crore. In contrast, domestic institutional investors (DIIs) were net buyers, purchasing equities worth ₹3,917.43 Crore.