Trading within a limited range on July 9, the Indian stock index closed with a weak trend and the Nifty closed below 25,500. At closure, the Sensex fell at 83,536.08 at 83,536.08 and the Nifty closed at 25,476.10 at 83,536.08 and the Nifty fell at 25,476.10. There was no change in about 1973 shares, a decline in 1888 shares and 123 shares. The biggest decline in Nifty was the shares of Tata Steel, HCL Technologies, Hindalco Industries, Apollo Hospitals, Tech Mahindra, while the edge was in shares of Shriram Finance, Bajaj Finance, HUL, UltraTech Cement and Coal India. On the regional front, metal, realty and oil and gas indices have dropped by 1.4 percent, media, IT, PSU bank declined by 0.5 percent, while FMCG, Auto and Consumer Durables increased by 0.3–0.8 percent. The BSE Midcap index remained stable, while the smallcap index increased by 0.5 percent.
The 30 -share BSE Sensex opened at 83,625.89 on Wednesday at 83,625.89. It was trading at 83,598.12 at 9:18 am at 83,598.12 at 9:18 am or 0.14 percent. Similarly, the Nifty-50 of the National Stock Exchange (NSE) also opened with a slight decline at 25,514.60 points. At 9:21 am, it was trading at 25,496 at 25.85 points or 0.10 percent. US President Donald Trump’s tariff scheme, China’s inflation figures of June, trend of foreign investors, primary market activities and signs from global markets will determine the direction of benchmark indices Sensex and Nifty today.
What are the indications from global markets?
On Wednesday, a mixed trend was seen in the Asian markets. The reason for this was the statement of US President Donald Trump. Trump said that the deadline for tariff of August 1 will not be extended. In a statement on Tuesday, Trump announced a 50 percent tariff on copper imports. He also indicated that some areas could be charged additional fees. In addition, he warned that drugs exported to the US may cost up to 200 percent in the next 12 to 18 months. Meanwhile, Japan’s Nikkei index rose 0.18 percent. The Topics index saw an increase of 0.19 percent. South Korea’s cospie also increased by 0.19 percent, while Australia’s ASX 200 index fell 0.59 percent.
Investors are now eyeing China’s major economic figures. This includes inflation and productive price figures for the month of June. China’s consumer inflation was 0.10 percent in June, compared to 0.10 percent in May. However, productive prices declined by 3.6 percent year-on-year, which was more than expected 3.2 percent and more than 3.3 percent in May.
Meanwhile, Wall Street’s markets remained almost stable. The S&P 500 index closed down 0.07 percent to close at 6,225.52. Nasdaq Composite closed at 20,418.46 with a gain of 0.03 percent. Dow Jones closed down 0.37 percent to close at 44,240.76. Investors are now waiting for the details of the Federal Reserve meeting, which is expected to be released today.
