SENSEX and NIFTY50 open on muted note; NTPC, Power Grid and BPCL top gainers

Today, Indian equity benchmark indices began the trading session on a muted note, with the NIFTY50 and SENSEX trading flat. The broader markets opened in green. In the sectoral indices, Nifty Energy was the top gainer, while Nifty Metal was the top loser in the early trading session. The India VIX has slightly declined by 0.15%, trading close to the 13-mark.

On Monday, July 29, 2024, foreign institutional investors (FII) sold shares worth ₹2,474.54 crore, while domestic institutional investors (DII) bought shares worth ₹5,665.54 crore.

At 09:25 am, the SENSEX was trading marginally higher by 0.07%, trading above the 81,400 level. The NIFTY50 was slightly up, above the 24,800 level. Furthermore, Nifty Bank gained by 0.22%, trading above the 51,500 level.

Broader indices

Looking at the broader indices, the Nifty Midcap 100 index was trading in the green, up by 0.3% and making a new high at 58,608.50 level, while the Nifty Smallcap 100 surged by 0.66% and is trading above the level of 19,100 mark. Market breadth is skewed in favour of advances.

Sectoral Performance

Within the sectoral landscape, Nifty Oil & Gas (+1.33%), Nifty Media (+0.62%), and Nifty Realty (+0.6%) are the major sectors that are trading positively, while Nifty Metal (-0.45%), Nifty Financial Services (-0.19%) and Nifty IT (-0.25%) are among the top losers.

Top Gainers and Losers

U.S. Markets

The S&P 500 closed slightly higher following a volatile trading session on Monday as investors awaited major technology company earnings, a Federal Reserve policy decision on interest rate cuts, and key U.S. labor data, all expected this week.

The U.S. 10-year Treasury yield increased by 14 basis points to 4.18%, while the U.S. 2-year bond yield rose by 9 basis points to 4.40%.

Commodities

Oil prices recovered some of last week's losses due to concerns about a widening conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights, which Israel and the United States attributed to the Lebanese armed group Hezbollah.

Brent crude futures rose by 20 cents, or 0.3%, to $81.33 a barrel. U.S. West Texas Intermediate (WTI) crude futures edged up by 9 cents, or 0.1%, to $77.25 a barrel.

Stocks in F&O Ban - stock that is banned for trading in the F&O segment on July 30, 2024 is India Cements.