JKB Financial Services Ltd.

As on : 19-Jul-2023

Market Commentary - Pre-Session
19-Jul-2023 08:31

Market may open with minor losses

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 6 points at the opening bell.

Global markets:

Overseas, Asian stocks are mostly trading higher on Wednesday as investors digest better-than-expected results from Wall Street.

US stocks ended higher on Tuesday led by gains in technology and banking shares amid better than expected quarterly results from key banks

US retail sales rose less than expected in June. Retail sales increased 0.2% last month, the Commerce Department said on Tuesday. Data for May was revised higher to show sales gaining 0.5% instead of 0.3% as previously reported.

Domestic markets:

Back home, domestic benchmarks ended with decent gains on Tuesday, rising for the fourth trading session. The barometer index, the S&P BSE Sensex gained 205.21 points or 0.31% to 66,795.14. The Nifty 50 index rose 37.80 points or 0.19% to 19,749.25. Both the indices settled at record high levels.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,115.84 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,317.56 crore in the Indian equity market on 18 July, provisional data showed.

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