Stock Market LIVE on Friday, July 12, 2024: Indian stock markets may see a higher opening today despite mixed global signals.
At 6:37 AM, GIFT Nifty futures indicated an 80-point gain, trading at 24,463, signalling a positive start for the day.
Across Asia-Pacific, markets mostly declined following US inflation data for June, which stood at the lowest in three years. Japan’s Nikkei retreated over 2 per cent, pulling back from record highs, while the Kospi dropped 1.26 per cent. In contrast, Australia’s ASX200 rose 0.72 per cent.
In the US, markets closed with mixed results as easing inflation bolstered expectations of rate cuts by the Federal Reserve. The S&P 500 ended 0.88 per cent lower and the Nasdaq Composite fell 1.95 per cent, ending their seven-day winning streaks with their worst performance since April. The Dow Jones, however, gained 0.08 per cent.
Back in India, investors will monitor inflation, industrial data, and forex figures closely, which will be released later in the day.
Furthermore, on July 11, foreign institutional investors (FIIs) sold shares worth Rs 1,137.01 crore, while domestic institutional investors (DIIs) bought shares totaling Rs 1,676.47 crore.
