The stock market saw an increase amid speculation of a US-India deal. The Sensex rose 270 points and the Nifty closed at 25,522. There was b buying in realty stocks.
Closing Bell: The Indian stock market closed higher on Tuesday, July 8th. News of a possible 'mini trade deal' between India and the US generated positivity among investors. Market activity increased in the final hour, leading major indices to close in the green. Additionally, buying in financial and realty stocks also supported the market.
Performance of Sensex and Nifty
The BSE Sensex opened at 83,387.03, down 50 points. After fluctuating throughout the day, it closed at 83,712.51, up 270.01 points, or 0.32%.
The NSE Nifty-50 opened at 25,427.85, with a slight decrease. During the day's trading, it reached a high of 25,548 and a low of 25,424. It ultimately closed at 25,522.50, up 61.20 points, or 0.24%.
Rise in Realty and Banking Stocks
The Nifty Realty Index saw an increase of approximately 1%. Stocks of major real estate companies such as Brigade Enterprise, Prestige Estate, DLF, Anant Raj, and Phoenix Mills performed bly.
Also, Nifty Bank, Financial Services, IT, and Energy sectors recorded slight gains. Increased investor interest in these sectors provided additional support to the market.
Focus on US Policies
Recently, former US President Donald Trump announced heavy tariffs on 14 countries. This decision will come into effect from August 1st. The tariffs will affect the exports of these countries.
Japan, South Korea, Malaysia, Kazakhstan, Tunisia: 25%
Indonesia: 32%
Bangladesh: 35%
Cambodia, Thailand: 36%
Laos, Myanmar: 40%
South Africa, Bosnia: 30%
This decision is likely to impact global trade. There is uncertainty among investors regarding this.
Global Market Situation
US markets saw a decline. The Dow Jones Industrial Average fell by 0.94%, the S&P 500 by 0.79%, and the Nasdaq by 0.92%.
Asian markets, however, saw gains after a mixed start. Japan's Nikkei rose 0.21%, South Korea's Kospi rose 1.13%, Australia's S&P/ASX 200 and Hong Kong's Hang Seng also closed with slight gains.
Latest IPO Information
The IPO of Travel Food Services is entering its second day in the mainboard category. Meanwhile, the IPO of Meta Infotech will close for subscription today.
Additionally, the IPOs of Smarten Power Systems and Chemcart India will also enter their second day of subscription. The IPO of Glen Industries has opened today. Investors are also showing interest in these new issues.
