GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 might see a lower opening on Tuesday. Here is all you need to know before the market opens.
GIFT Nifty was down 34.50 points, or 0.14%, at 24,620 indicating a negative start for the domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 closed 85 points or 0.35% higher to finish at 24,587, while the BSE Sensex jumped 146 points or 0.18% to finish at 80,665.
Key things to know before share market opens on July 16, 2024
Wall Street
US markets on Monday closed higher after an unsuccessful assassination attempt on former President Donald Trump. The broader market index, the S&P 500, added 0.28% to close at 5,631.22. Similarly, the tech-heavy Nasdaq Composite rose 0.4% to settle at 18,472.57. While, the Dow Jones Industrial Average rose 210 points, or 0.53%, to end at 40,211.72.
US Dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading up 0.07% at 104.32 on Tuesday morning.
Crude Oil
WTI crude prices were trading at $81.82 down by 0.12%, while Brent crude prices were trading at $84.80 up by 0.06%, on Tuesday morning.
Asian Markets
Asian markets were trading on a mixed note on Tuesday morning following the overnight record gains in the US market. Japan’s Nikkei 225 was up 219 points 0r 0.53% at 41,410. The Korean index Kospi was down 0.05% at 2,859.57. The Asia Dow was trading 0.05% higher at 3,713.61. The benchmark Chinese index Shanghai Composite was trading 0.27% lower at 2,966.11.
FII, DII Data
Foreign institutional investors (FII) bought shares net worth Rs 2,684.78 crore. However, domestic institutional investors (DII) sold shares net worth Rs 331 crore on July 15, 2024, according to the provisional data available on the NSE.
F&O Ban
Hindustan Copper, Aditya Birla Fashion & Retail, Chambal Fertilisers and Chemicals, GMR Airports Infrastructure, GNFC, India Cements, Indus Towers, and RBL Bank will remain in the F&O Ban on July 16.
Technical View
On Monday, the index started in the green and remained sideways during the day. “On the daily chart, a doji pattern has formed, indicating indecisiveness. A fall below 24,520 might trigger near-term panic in the market. A fall below 24,250 might take the index towards 24,200-24,180. On the higher end, resistance is placed at 24,650, above which further upside looks possible,” said Rupak De, Senior Technical Analyst at LKP Securities.
Bank Nifty Outlook
On Monday, support from IT and pharma helped the index to sustain its gains and we also saw the Bank Nifty gaining momentum during the second half. “So Bank Nifty could take a lead after the recent underperformance. For the Bank Nifty immediate hurdle is placed at 52800 and thereafter 53000. Crucial support is placed at 52270 – 52100,” said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.