NewKerala.com

Key Points

The Indian stock market opened marginally lower on Monday, influenced by mixed global cues and regulatory concerns. Foreign institutional investors continued their selling streak, offloading equities worth Rs 760.11 crore. Potential US-India trade negotiations and SEBI's report on Jane Street are key market drivers. Sectors like metal, auto, and IT witnessed initial selling pressure during early trading hours.

Key Points: Sensex Dips on Global Cues Jane Street Regulatory Concerns

  • Sensex falls 0.09% in early trade
  • FIIs continue selling for fifth consecutive day
  • Derivative trading volume likely to be impacted
  • Jane Street regulatory action creates market uncertainty
2 min read

Indian stock market opens marginally lower amid mixed global cues

Indian stock market opens lower as traders monitor US-India trade talks and SEBI's Jane Street report amid mixed global sentiment.

"There are reports of a possible interim trade deal between US and India before the July 9th tariff deadline. - Dr VK Vijayakumar, Geojit Investments"

Mumbai, July 7

The domestic benchmark indices opened marginally lower on Monday amid mixed global cues, as selling was seen in the metal, auto, IT, PSU bank, pharma and financial service sectors in the early trade.

At around 9.28 am, Sensex was trading 75.59 points or 0.09 per cent down at 83,357.30 while the Nifty declined 18.25 points or 0.07 per cent at 25,442.75.

According to analysts, concerns surrounding a US-India trade deal and the fallout of SEBI's report on Jane Street will influence market movements.

"There are reports of a possible interim trade deal between US and India before the July 9th tariff deadline. If that happens, that would be a positive. The regulatory action on Jane Street and its implications will be closely watched by the market," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

The volume of derivative trading is likely to take a hit impacting stock exchanges and some brokerages. This has implications for their stock prices, too. The short-term issues are unlikely to have any long-term impact on the market, he added.

Nifty Bank was down 50.95 points or 0.09 per cent at 56,980.95 in early trade.

The Nifty Midcap 100 index was trading at 59,669.55 after declining 8.20 points or 0.01 per cent. Nifty Smallcap 100 index was at 19,025.45 after declining 7.60 points or 0.04 per cent.

Meanwhile, in the Sensex pack, BEL, Tech Mahindra, Titan, Bajaj Finance, HCL Tech, SBI, Tata Steel and ICICI Bank were the top losers. Trent, Hindustan Unilever Limited, Bajaj Finserv, Asian Paints and HDFC Bank were the top gainers.

On the institutional front, foreign institutional investors (FIIs) extended their selling streak for the fifth consecutive day, offloading equities worth Rs 760.11 crore on July 4. Domestic institutional investors (DIIs) also sold equities worth Rs 1,028.84 crore on the same day.

In the Asian markets, Bangkok, Hong Kong , Japan, China and Jakarta were trading in red, whereas only Seoul was trading in green.

In the last trading session on Thursday, Dow Jones in the US closed at 44,828.53, up 344.11 points, or 0.77 per cent. The S&P 500 ended with a gain of 51.93 points, or 0.83 per cent at 6,279.35 and the Nasdaq closed at 20,601.10, up 207.97 points, or 1.02 per cent.

- IANS

Share this article:

Reader Comments

P
Priya S
As a small investor, these fluctuations make me nervous. The article mentions SEBI's report on Jane Street - can someone explain how this affects retail investors like me? I've put my hard-earned savings in mutual funds.
A
Aditya G
Market is behaving exactly as expected before the US trade deal deadline. Smart money is waiting on sidelines. My suggestion - don't panic sell, this is temporary. Indian economy fundamentals remain strong 💪
S
Sarah B
Interesting to see Hindustan Unilever among gainers when most stocks are down. Shows how FMCG remains defensive during uncertain times. Might be good to rebalance portfolio towards such stocks now.
K
Karthik V
The article could have explained the Jane Street issue better. SEBI's actions against foreign entities are important for market integrity, but the reporting lacks depth. Media should do better financial journalism.
N
Nisha Z
Bhai log, yeh 0.09% down kya hota hai? 😂 Daily 1-2% swings dekhe hain humne! Real tension toh tab hogi jab China border situation bigdega. Till then, SIP karte raho aur soye raho!

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50