Market Commentary - Pre-Session
Market may open near flat line As on : 14-Jul-23  08:42

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 6 points at the opening bell.

Global markets:

Overseas, Asian stocks higher on Friday amid a rebound in Chinese shares and growing bets that the US Fed is approaching an interest-rate peak. Stocks on the Wall Street also extended recent gains to end higher overnight.

Singapore's economy avoided a technical recession in the second quarter, growing 0.7% year-on-year and 0.3% quarter-on-quarter, advanced estimates showed.

US stocks extended recent gains to end higher on Thursday as data showed the annual increase in U.S. producer inflation was the smallest in nearly three years.

The U.S. producer price index rose in June less than anticipated, climbing 0.1% year on year, while core PPI, which strips out volatile food and energy prices, climbed 0.1% ? also lower than expectations.

Domestic markets:

Back home, key equity indices trimmed gains after scaling record high levels on Thursday. The barometer index, the S&P BSE Sensex gained 164.99 points or 0.25% to 65,558.89. The Nifty 50 index added 29.45 points or 0.15% to 19,413.75.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,237.93 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,196.68 crore in the Indian equity market on 13 July, provisional data showed.

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