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GIFT Nifty: The Nifty 50 index is expected to open 13.50 points higher based on GIFT Nifty futures. Foreign portfolio investors (FPIs) bought shares worth Rs 4,021.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,651.45 crore in the Indian equity market on 12 July 2024, provisional data showed. FPIs have bought shares worth over Rs 10718.65 crore in July 2024 (so far). They bought shares worth 2037.47 crore in June 2024. Global Markets: Asian stocks traded mixed on Monday, influenced by contrasting factors. China's economic growth fell short of expectations in the second quarter, dampening sentiment. The country's GDP expanded by 4.7% year-on-year, slowing from the previous quarter's 5.3%. Additionally, uncertainty surrounding U.S. politics, following an assassination attempt on former President Donald Trump, added to market volatility. However, losses were tempered by a positive close on Wall Street on Friday, where major indexes approached record highs amid growing expectations of interest rate cuts. Wall Street futures remained modestly positive in Asian trading hours, although the impact of the attempted assassination on the 2024 presidential race remains unclear. Trump is scheduled to be officially nominated as the Republican presidential candidate at this week's party convention. Domestic Market: The domestic equities surged Friday, with the Nifty50 closing near 24,500, driven by a strong showing from IT stocks. Positive sentiment was fueled by TCS's robust earnings and easing US inflation, boosting hopes of a September rate cut. However, with the earnings season in full swing and the union budget looming, expect more stock-specific action in the coming days. The barometer index, the S&P BSE Sensex, was up 622 points or 0.78% to 80,519.34. The Nifty 50 index gained 186.20 points or 0.77% to 24,502.15. The Sensex and Nifty clocked an all-time high of 80,893.51 and 24,592.20 respectively in mid-morning trade. Powered by Capital Market - Live News |