Image Source : Bajaj Broking
India’s benchmark Nifty 50 index opened 0.07% higher in pre-open trade on July 17, reflecting a mildly positive sentiment across domestic equities. The uptick comes amid mixed global cues and steady domestic institutional support.
Key market movements:
- Nifty 50 opened at 25,212, up 0.07%, while Sensex gained 0.08% to reach 82,634.
- Gift Nifty traded 0.25% higher, indicating a firm start for broader indices.
- European markets closed in the green, with DAX up 0.31% and FTSE 100 rising 0.13%, offering supportive signals.
Domestic dynamics:
- Despite foreign institutional investors pulling out ₹11,777 crore in July, domestic investors injected ₹15,746 crore, cushioning downside risks.
- Sectoral rotation and earnings expectations are driving selective buying, especially in banking and infrastructure stocks.
Outlook:
- Analysts expect range-bound movement with a bullish bias, contingent on global inflation data and corporate earnings.
Sources: Financial Express, 5paisa, FastBull.
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