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- Stock Market Highlights Today: Dalal Street ends day in red as Sensex tumbles over 100 points, Nifty50 closes below 24,400 mark
Stock Market Highlights Today: Dalal Street ends day in red as Sensex tumbles over 100 points, Nifty50 closes below 24,400 mark
The movement reflected improving investor confidence despite mixed global cues. Realty, private banks, auto and capital goods stocks led the gains, whereas IT, utilities and PSU banks were among the weaker performers.
Foreign institutional investors continued to support the market with fresh equity purchases, while Brent crude remained below the $72-a-barrel mark, boosting hopes of lower inflation and a healthier macroeconomic outlook for India.
Meanwhile, rupee slipped 25 paise to close at 95.43 against the US dollar as a stronger greenback weighed on emerging market currencies. Investors will also keep an eye on global market trends, crude oil prices, foreign fund flows, currency movement and the upcoming corporate earnings season, all of which are expected to influence market direction in the sessions ahead.
Track TOI’s coverage on BSE Sensex and Nifty50 to know which way stock markets are headed:
Rupee ended Tuesday on a strong note, rising 49 paise to settle at 94.94 against the greenback.
Indian equity markets are expected to open on a strong positive note, with Gift Nifty trading at 24,580, up by 88 points, indicating a firm start for the session. Global sentiment remains supportive as Asia-Pacific equities extended their upward momentum, tracking last week's gains on Wall Street and sustained risk-on sentiment among investors. Stable crude oil prices and subdued volatility are further aiding the positive market setup.The Nifty 50 began the week on a strong footing, gaining 0.66 percent on July 6 and strengthening its bullish structure. A key development was the index reclaiming its 200-day EMA for the first time since February, while continuing to trade above all major short-, medium-, and long-term moving averages. The breakout above this crucial long-term hurdle has significantly improved the technical outlook. Going forward, the 24,600 level, which coincides with the April swing high, remains the immediate resistance. A sustained move above this level could pave the way for an advance towards 24,800. On the downside, the 24,400–24,300 zone is expected to act as immediate support, while 24,000 remains the key support level for the broader trend.
Aakash Shah, technical research analyst at Choice Equity Broking Private Limited
In the primary market, the National Stock Exchange (NSE) is aiming to launch its long-awaited initial public offering (IPO) in September. The public issue is expected to be worth around Rs 30,000 crore, making it one of the biggest IPOs in India's history.
The offering is likely to value the country's largest stock exchange at more than Rs 5 lakh crore. Ahead of the launch, the NSE is expected to begin investor roadshows to generate interest in the issue.
If the IPO goes ahead as planned, it will overtake Hyundai Motor India's Rs 27,870-crore share sale in October 2024 to become the country's biggest public offering.
According to the draft red herring prospectus (DRHP) filed in June, the IPO will be entirely an offer for sale (OFS), with existing shareholders selling 14.89 crore equity shares, or nearly 6 per cent of the exchange's stake. The NSE currently has around 1.8 lakh shareholders.
Asian markets traded lower, despite strong earnings guidance from South Korea's Samsung Electronics. The world's largest memory chipmaker projected a 19-fold jump in its second-quarter operating profit, marking its third consecutive quarter of robust earnings growth, driven by the recovery in the AI-driven chip market.
Investor sentiment in Asia remained cautious, while the Japanese yen hovered near a 40-year low against the US dollar, keeping markets alert for possible intervention by Japanese authorities.
Meanwhile, Wall Street ended Monday's session on a positive note, with optimism around artificial intelligence continuing to lift investor confidence ahead of the second-quarter earnings season. The Dow Jones gained 0.2%, the S&P 500 advanced 0.72%, and the Nasdaq Composite climbed 1.12%.
Sectoral performance on Monday reflected broad-based buying across several economically sensitive segments. Realty stocks led the advance, followed by private banks, capital goods and automobile companies. The gains suggest investors remain optimistic about domestic growth prospects despite mixed international market conditions.
Banking shares benefited from continued foreign buying, while auto stocks extended gains amid expectations of resilient consumer demand. Capital goods companies also attracted interest, reflecting optimism around infrastructure spending and industrial activity.
In contrast, IT, utilities and PSU banking stocks underperformed the broader market, indicating that investors continued to favour sectors tied more directly to India's domestic growth story. Today's session will reveal whether sectoral leadership remains concentrated or broadens further across the market.
Foreign institutional investors continued to lend support to Indian equities through sustained buying activity. Exchange data showed FIIs purchased shares worth Rs 1,355.33 crore on Friday, followed by another net purchase of Rs 243.03 crore on Monday.
Consistent foreign inflows have significantly improved market sentiment after months of intermittent selling. Analysts say renewed overseas interest has largely been directed towards large-cap stocks, particularly banking names, helping benchmark indices outperform several global peers. Stable domestic fundamentals, easing crude oil prices and expectations of a steady corporate earnings season have made the Dalal Street relatively attractive. Investors will continue to monitor FII activity closely today, as sustained foreign buying could provide another boost to the ongoing market rally.
A decline in global crude oil prices remained one of the biggest positives for the Dalal Street. Brent crude has slipped below the 72-dollar-per-barrel mark, easing concerns over inflation and India's import bill. Since India imports the majority of its crude oil requirements, softer prices are generally viewed as a significant macroeconomic tailwind.
Lower energy costs can help reduce inflationary pressures, improve the country's current account balance and boost profitability for oil marketing companies. Analysts also believe cheaper crude strengthens the overall economic outlook by reducing pressure on government finances and corporate margins. The continued weakness in oil prices has therefore become an important driver of the recent rally in equities and remains one of the key factors investors will monitor through today's session.
Dalal Street is set to begin Tuesday's trade on strong momentum, after posting gains for four straight sessions.
Earlier on Monday, Sensex climbed 521 points to close at 78,285, while the Nifty rose 160 points to settle at 24,430, ending at their highest closing levels in more than two months. Over the last four trading sessions, Sensex has gained over 1,800 points, while Nifty has added more than 560 points.
The rally has been driven by strong buying in banking stocks, lower crude oil prices and steady foreign investor inflows. Investors will now watch if the benchmarks can continue their winning run as fresh domestic and global cues unfold during the day.
Banking, auto, realty and capital goods shares led the rally, while IT stocks remained under pressure. Softer oil prices have also lifted sentiment as they are expected to ease inflation and reduce India's import bill. Even though global markets remained mixed, domestic investors stayed optimistic. Traders will now keep an eye on foreign fund flows, crude oil prices, global cues and the upcoming earnings season for the next trigger.
