The Indian stock market began on July 17th with a b surge. In early trading, the BSE Sensex surpassed 82,750, gaining approximately 100 points, while the NSE Nifty traded above 25,200. This momentum created a positive atmosphere in the market, instilling renewed energy among investors.
Gift Nifty had already signaled the trend
The Gift Nifty futures had already indicated the market's direction before the morning pre-opening session. Around 6:30 AM, it was trading at 25,260, up 14 points, suggesting a b start for the Indian market.
Last Wednesday, after fluctuations, the market eventually saw gains. The Sensex closed at 82,634.48, up 63.57 points, while the Nifty closed at 25,212.05, up 16.25 points.
Mixed signals from Asian markets
Looking at international cues, there was a mixed trend from Asian markets. The Australian ASX 200 index was trading with a gain of 0.55 percent. Japan's Nikkei also showed strength, rising by 0.20 percent. The Topics Index increased by 0.15 percent.
However, South Korea's Kospi index declined, experiencing a loss of 0.47 percent. Amidst these mixed signals, the Indian market showed early strength.
Factors influencing market movement
Several key domestic and global factors are likely to influence today's trading.
Investors are focused on the quarterly results of companies. The Q1 results of major companies are being released in mid-July.
Activity is high in IT, Pharma, and Banking sector stocks.
The dollar index, crude oil prices, and the stance of foreign investors (FPI data) can also play a significant role in determining market direction.
There is also growing activity on August series derivatives.
Stocks with the most action
The surge in shares of US companies like Nvidia, Tesla, and Apple also supported Indian tech companies.
The Pharma sector saw gains in stocks like DRL, Sun Pharma, and Cipla.
In the Metal sector, companies like JSW Steel and Hindalco also witnessed good buying activity in today's session.
Nifty surpasses 25200, Sensex targets 83000
In morning trading, the Nifty crossed 25200 and showed b support. Experts believe that if this momentum continues, the next move could be between 25350 and 25400.
As for the Sensex, it has crossed the 82750 level, and now the market's focus is on the psychological level of 83000.
Foreign investors are buying again
The role of FPIs (Foreign Portfolio Investors) in the market appears to be strengthening once more. For the past few sessions, FPIs have been consistently investing in the Indian market.
Meanwhile, Domestic Institutional Investors (DIIs) are also active in the market, maintaining the flow of liquidity.
Market focus now on quarterly results
In the next few days, the Q1 results of major companies like HUL, Asian Paints, Bajaj Finance, and Ultratech Cement are due. Further volatility in the stock market may be observed based on these results.
Investors have high expectations, especially from the quarterly results of the Banking and FMCG sectors.
