NIFTY50 jumps 50 points, SENSEX trades above 80,000 in opening session

On Tuesday, Indian equity benchmark indices began the trading session positively, with the NIFTY50 and SENSEX trading marginally higher. Similarly, the Nifty Midcap 100 and Smallcap 100 index showed resilience in the broader markets. Additionally, Nifty Auto emerged as the top gainer, while Nifty IT was the top loser in the early trading session. The India VIX surged 2.2%, inching closer to 14-mark.

On Monday, July 08, 2024, foreign institutional investors (FII) bought shares worth ₹60.98 crore, while domestic institutional investors (DII) bought shares worth ₹2,866.79 crore.

At 09:25 AM, The SENSEX was trading slightly higher by 0.17% above the 80,000 level, while the NIFTY50 was also up by 0.13%, trading above the 24,300 level. Furthermore, Bank Nifty gained by 0.14%, hovering above the 52,500 level.

Broader indices- Looking at the broader indices, the Nifty Midcap 100 index was trading higher by 0.5% above the 57,200 level, while the Nifty Smallcap 100 gained by 0.64% and is trading above the 19,000 mark.

Sectoral Performance - Within the sectoral landscape, Nifty Auto (+1.1%), Nifty Media (+1.04%) and Nifty PSU Bank (+0.57%) are among the top gainers, while Nifty IT (-0.06%) and Nifty Energy (-0.13%) are the sectors trading negatively.

Top Gainers and Losers - In the NIFTY50 space, Maruti (+3.11%), Cipla (+1.05%) and Britannia (+0.9%) are among the top gainers. On the other hand, Shriram Finance (-0.83%), JSW Steel (-0.6%) and BPCL (-0.5%) were the major losers.

US Markets- The S&P 500 and Nasdaq reached record highs on Monday as investors anticipated new inflation data, Federal Reserve Chair Jerome Powell remarks, and the onset of the quarterly earnings season.

In early Tuesday trading, the US 10-year yield dropped 9 basis points to 4.27, and the 2-year Treasury yield decreased 14 basis points to 4.62.

Commodities - Oil prices remained largely stable early Tuesday as a hurricane impacting a major oil-producing hub in Texas caused less damage than anticipated.

Brent futures dipped 4 cents to $85.71 a barrel, while US West Texas Intermediate (WTI) crude decreased by 5 cents to $82.28.

Stocks in F&O Ban - Stocks that are banned for trading in the F&O segment on July 09, 2024, are Aditya Birla Fashion and Retail, Bandhan Bank, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers & Chemicals, Hindustan Copper, India Cements, Indus Towers and Piramal Enterprises.