Stock Market Today 10 July, 2023:

Stock Market Today: After making new record highs during the previous week, the market has also started the new week well. Early trends suggest an uptrend in both the major domestic indices BSE Sensex and NSE Nifty today.

Bullish at the opening of the market

BSE’s 30-share index Sensex rose nearly 220 points to close at 65,500 points when the market opened at 09:15 am. At the same time, the Nifty was trading near 19,400 points with an increase of over 60 points. Early trading trends indicate that the domestic stock market may continue to rise today.

Start of Sensex Companies

Talking about the opening business, shares of most of the Sensex companies are bullish. At 09:20 AM, shares of 16 out of 30 Sensex companies were in the green zone, while shares of 14 companies started trading in losses. Stocks like Nestlé, HDFC Bank, Hindustan Unilever, Reliance Industries are rising in today’s opening trade. On the other hand stocks like HCL Tech, Powergrid, Titan are losing.

US market

US markets closed lower on Friday. The Dow Jones closed down 187 points. The S&P 500 index and the Nasdaq also closed with losses. Fears of a rate hike in the US put pressure on the market. US inflation data is due on Wednesday. The market is hoping for a reduction in the inflation rate. Inflation rate in America was 4 percent in May. Let us tell that in one week Dow Jones has decreased by 1.97 percent, S&P 500 index by 1.27 percent and Nasdaq by 1.13 percent.

European market

European stock markets rose slightly on Friday after sharp declines in the previous session. The pan-European Stocks 600 index closed up about 0.1 percent. Movements of individual sectors and stocks were mixed. Media shares were down by 1.3 percent. The decline was more than expected. While a rise of 1.5 percent was recorded in chemical stocks.

Mixed business for Asian markets

Asian markets are witnessing mixed business today. Meanwhile, US markets closed lower on Friday. The Dow Jones closed down 187 points. The S&P 500 index and the Nasdaq also closed with losses. Fears of a rate hike in the US put pressure on the market. US inflation data is due on Wednesday. The market is hoping for a reduction in the inflation rate. Inflation rate in America was 4 percent in May. Let us tell that in one week Dow Jones has decreased by 1.97 percent, S&P 500 index by 1.27 percent and Nasdaq by 1.13 percent. On the other hand, crude has seen a rise of 3 percent due to increased supply tension. Brent has crossed $78. Crude oil prices are at a 9-week high in the global market.

Shares falling under F&O restriction on NSE

4 stocks Granules India, India Cements, BHEL and Delta Corp are under F&O ban on NSE on 10th July. Let us tell you that if the position in the securities exceeds their market wide position limit, the stocks included in the F&O segment are placed in the restricted category.

Statistics of FII and DII

On July 7, foreign institutional investors in the Indian markets poured Rs. 790.40 crore was purchased. On this day, local institutional investors invested Rs. 2964.23 crores were sold.

How did the market fare in the last trading session?

In the last trading session (Friday), the local stock market was down. BSE Sensex fell 505 points. The NSE’s Nifty also closed down 165.50, or 0.85 per cent, at 19,331.80. On the Nifty, 44 stocks declined while six advanced.

Profit-booking in financials and IT stocks and weak trend in global markets led the market to decline. With this, the market fell below its all-time high level.

The 30-share BSE Sensex ended down 505.19 points, or 0.77 percent, at 65,280.45. During trading, Sensex reached close to 66 thousand. However, it closed in the red at the end of trading. Out of 30 Sensex stocks, 26 closed in the red while only four closed in profit.