Markets may ring opening bells in a positive sentiment

4 Jul 2024 , 11:25 AM

Indian benchmark indices may start today’s session with a cheery sentiment after their record-breaking run on Wednesday, led by strong global trends.

Analysts attributed the increase to buoyant global markets and excellent performances by banking heavyweights, which resulted in a strong start and subsequent consolidation throughout the day.

NSE Nifty closed with a gain of 163 points at 24,286.50. BSE Sensex ended the previous session with a jump of 545 points at 79,986.80.

In the pre-opening session, top gainers are Tata Consumer, Adani Ports, Kotak Bank, HDFC Bank, and Axis Bank. On the other hand, top laggards are TCS, Titan, Reliance, Tata Motors, and Hindalco.

On  the global front, US markets closed in mixed sentiments. Dow Jones closed with a decline of 23 points. Nasdaq index ended with a gain of 160 points. S&P 500 closed 28 points higher.

Asian markets are trading mostly with positive numbers, however, the gains are not major. Chinese Shanghai Composite is trading with a decline of 0.41%. Japan’s Nikkei 225 closed 0.21% higher. Hong Kong’s Hang Seng index is trading 0.25% higher. South Korean Kospi index is up by 0.73%. Taiwan index is trading with a jump of 1.56%.

Indian government bond yields are projected to fall in early trade on Thursday, following a drop in US yields as dismal economic data boosted bets on interest rate reduction.

Gold prices rose on Thursday as softer-than-expected US economic data fueled speculation that the Federal Reserve could slash interest rates as early as September.

Oil prices dipped in early trade on Thursday as job and business activity statistics in the United States came in weaker than expected, indicating that the world’s largest oil consumer’s economy may be cooling.

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