Indian Stock Markets Eye Flat to Negative Start

19 Jul 2024 , 09:08 AM

Benchmark indices Sensex and Nifty 50 are expected to open flat to negative on July 19. As of 07:00 am IST, Nifty futures were trading at 24,828.50.

Market Performance on July 18: The Indian equity market continued its upward momentum, reaching fresh record highs for the fourth consecutive session on July 18, driven by strong performances in the IT, banking, and FMCG sectors.

• Sensex: Up 626.91 points (0.78%) to 81,343.46
• Nifty: Up 187.85 points (0.76%) to 24,800.85

Sector Performance: The rally was led by IT, banking, and FMCG stocks, reflecting broad-based buying interest across these key sectors.

Global Market Trends: Asian markets were trading lower on Friday, influenced by profit-taking in tech stocks on Wall Street. This trend followed the recent strong rally in equities, as investors reassessed their positions.

US Market Recap: US stocks experienced a downturn on July 18, with all three major indexes closing in the red. The losses were attributed to a rotation away from high-priced megacap growth stocks as the second-quarter earnings season progressed.

• Dow Jones Industrial Average: Fell 533.06 points (1.29%) to 40,665.02
• S&P 500: Lost 43.68 points (0.78%) to 5,544.59
• Nasdaq Composite: Dropped 125.70 points (0.7%) to 17,871.22

Institutional Activity:

• Foreign Institutional Investors (FIIs): Bought equities worth ₹5,483 Crore on July 18
• Domestic Institutional Investors (DIIs): Sold equities worth ₹2,904 Crore on the same day