Equity benchmark indices climbed in early trade on July 6 amid unabated international fund inflows however later confronted risky trends after a record-breaking rally in the previous few buying and selling periods.
| Photo Credit: PTI
Equity benchmark indices climbed in early trade on July 6 amid unabated international fund inflows however later confronted risky trends after a record-breaking rally in the previous few buying and selling periods.
Investors most popular to remain cautious amid weak global market trends and report rally in equities.
The 30-share BSE Sensex climbed 54.09 factors to 65,500.13 in early trade. The NSE Nifty went up by 21.15 factors to 19,419.65.
Later, each the benchmark indices confronted risky trends and have been buying and selling marginally increased.
From the Sensex pack, Nestle, Power Grid, Reliance Industries, Tata Motors, UltraTech Cement, Larsen & Toubro, Kotak Mahindra Bank and Wipro have been among the many largest gainers.
IndusInd Bank, Tata Steel, Bajaj Finance, Maruti, HCL Technologies and Hindustan Unilever have been among the many laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong have been buying and selling decrease.
The U.S. markets ended in the adverse territory on Wednesday.
Global oil benchmark Brent crude dipped 0.21% to $76.49 a barrel.
“Negative sentiment across the global equities could see local benchmarks struggle in early July 6 trade, with profit-taking likely to continue after yesterday’s Federal Open Market Committee (FOMC) minutes meeting hinted that another rate hike in July is on the table.
“Other components that would weigh on sentiment are US-China tensions, drop in industrial exercise in China in June, and overbought technical situations again residence,” Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.
Foreign Institutional Investors (FIIs) continued their buying activity as they bought equities worth Rs 1,603.15 crore on Wednesday, according to exchange data.
“U.S. shares ended decrease on Wednesday with the S&P 500 snapping a three-day successful streak after the minutes of the Federal Reserve’s final coverage assembly confirmed nearly all members anticipated extra interest-rate will increase after unanimously deciding to depart charges unchanged in June,” Deepak Jasani, Head of Retail Research at HDFC securities, stated.
The BSE benchmark had dipped 33.01 factors or 0.05% to settle at 65,446.04 on July 5 after a record-breaking rally. The Nifty eked out marginal gains of 9.50 factors or 0.05% to finish at its recent report excessive of 19,398.50.
