Market Commentary - Pre-Session
Stocks may slide in early trade As on : 20-Jul-23  08:38

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 13 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Thursday as investors digested a slew of economic data across the region. China left its one year and five year loan prime rates unchanged at 3.55% and 4.2% respectively, days after it also left its medium term facility loan rates unchanged at 2.65%.

Japan recorded a surprise trade surplus of 43.05 billion yen ($308.5 million) in June. This was a sharp reversal from the 1.38 trillion yen deficit recorded in May, and the 1.37 trillion yen seen in June 2022.

US stocks ended higher Wednesday following earnings reports from a spate of banks and other large companies.

Domestic markets:

Back home, domestic equity barometers continued their upward trend for the fifth consecutive trading session on Wednesday. The S&P BSE Sensex, rose by 302.30 points or 0.45% to reach 67,097.44. Similarly, the Nifty 50 index increased by 83.90 points or 0.42% to reach 19,833.15.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,165.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,134.54 crore in the Indian equity market on 19 July, provisional data showed.

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