The Indian stock market opened with notable fluctuations on Monday morning. The BSE Sensex dropped 37 points to trade at 84,021, while the NSE Nifty50 slipped 8 points to 25,629 by 9:15 AM. Despite the sluggish opening, the GIFT Nifty remained in green territory and climbed more than 50 points to touch 25,790, hinting at a potentially positive day for domestic benchmarks.
In early trade, top Sensex gainers included Trent, State Bank of India, L&T, Eternal, and Axis Bank. On the flip side, M&M, Kotak Mahindra Bank, Bharti Airtel, NTPC, and Reliance dragged the index lower. In the broader market, the Nifty Smallcap50 index outperformed with a 0.86% rise during the initial hour. Sector-wise, the PSU Bank index surged 1.77%, while the Auto index fell 0.46%. This divergence indicated mixed investor sentiment across sectors, with particular enthusiasm seen in banking stocks.
Key Economic Data in Focus
Investors are closely watching key macroeconomic indicators scheduled for release this week. India’s Industrial Production Output for May will be announced today, while the Manufacturing PMI will follow on July 1, and the Services PMI is due on July 3. Analysts expect these indicators to guide market sentiment and influence investor decisions over the coming days. The market also remained influenced by recent global developments that have impacted investor mood and sectoral performances.
Market Ends On A Strong Note
Markets ended last week on a strong note as easing geopolitical tensions between Israel and Iran and a steep fall in oil prices boosted investor confidence. The Sensex rallied by 2% or 1,650.73 points, while the Nifty jumped by over 500 points through the week. According to official exchange data, foreign institutional investors (FIIs) bought Indian equities worth ₹1,397.02 crore on June 27. Meanwhile, domestic institutional investors (DIIs) sold stocks worth ₹588.93 crore, continuing a recent trend of divergent trading behavior between foreign and domestic players.
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