Market Commentary - Pre-Session
Indices may open on subdued note As on : 01-Aug-23  08:48

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 5 points at the opening bell.

Global markets:

Overseas, Asian stocks are mixed on Tuesday as China's factory activity fell into contraction territory for the first time since April. The official manufacturing purchasing managers index came in at 49.3, higher than June's figure of 49.0, according to the national bureau of statistics.

In US, all major indices ended Monday's main trading session modestly higher.

Domestic markets:

Back home, domestic stocks surged on Monday alongside global markets as global inflation cools down, giving investors hope that central banks will not need to tighten monetary policy as much as expected. The barometer index, the S&P BSE Sensex jumped 367.47 points or 0.56% to 66,527.67. The Nifty 50 index added 107.75 points or 0.55% to 19,753.80.

Foreign portfolio investors (FPIs) sold shares worth Rs 701.17 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,488.07 crore in the Indian equity market on 31 July, provisional data showed.

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