JKB Financial Services Ltd.

As on : 04-Jul-2023

Market Commentary - Pre-Session
04-Jul-2023 08:38

Stocks may open in positive zone

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 21 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday following marginal overnight gains in equities on Wall Street ahead of the Independence Day holiday.

US stocks ended higher on Monday in a holiday-shortened session led by a rally in Tesla and strength in bank shares. US markets will remain closed Tuesday in observance of Independence Day.

Domestic markets:

Back home, domestic equities kicked off the month of July with remarkable strength, as the benchmark indices soared to new record highs. Investor sentiment was boosted by positive domestic data and favorable global cues. The barometer S&P BSE Sensex advanced 486.49 points or 0.75% to 65,205.05. The Nifty 50 index added 133.50 points or 0.70% to 19,322.55.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,995.92 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 337.80 crore in the Indian equity market on 3 July, provisional data showed.

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