JKB Financial Services Ltd.

As on : 21-Jul-2023

Market Commentary - Pre-Session
21-Jul-2023 08:34

Stocks may open with small gains

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 12 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Friday as investors digested Japan's consumer price index figures for June. Japan's consumer prices rose 3.3% year-on-year in June, with the pace of inflation accelerating from the 3.2% recorded in May, government data showed Friday.

In US, the S&P 500 and Nasdaq fell on Thursday, weighed down by drops in Tesla and Netflix following their quarterly results, but the Dow advanced for a ninth straight day thanks to gains in Johnson & Johnson following a strong annual forecast.

Domestic markets:

Back home, the benchmark indices ended with significant gains on Thursday, rising for the sixth straight day. The barometer index, the S&P BSE Sensex jumped 474.46 points or 0.71% to 67,571.90. The Nifty 50 index advanced 146 points or 0.74% to 19,979.15.

Foreign portfolio investors (FPIs) bought shares worth Rs 3,370.90 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 193.02 crore in the Indian equity market on 20 July, provisional data showed.

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