Benchmark indices NSE Nifty 50 and BSE Sensex may remain volatile amid mixed global cues. The GIFT Nifty futures were trading 22 points or 0.11% higher at 19,515.50. “The market is maintaining its optimism; however, a profit-booking tendency is visible at the upper band as the recent rally has raised the market to the historic new high range. The momentum of the market has shifted from the frontlines of this year to the laggards like IT, commodities, and PSUBs. The market is taking a breather ahead of the upcoming Q1 results. Pharma and banking displayed a positive trend, while the auto sector faced selling pressure following a mixed set of sales data for the month of June,” said Vinod Nair, Head of Research at Geojit Financial Services.
Key things to know before share market opens on 5 July, 2023
Wall Street
The US market remained closed on Tuesday for Independence Day. On Monday, Dow Jones Industrial Average (DJIA) rose 0.03%, S&P 500 gained 0.12% and the tech-heavy Nasdaq advanced 0.21%.
Crude Oil
Oil prices eased on Wednesday, paring the previous day’s gain as fears over a global economic slowdown denting fuel demand outweighed expectations of tighter supply due to output cuts announced by top exporters Saudi Arabia and Russia for August.
FII/DII Data
Foreign institutional investors (FII) bought shares worth net Rs 2,134.33 crore, while domestic institutional investors (DII) sold shares worth a net Rs 785.48 crore on July 4, according to the provisional data available on the NSE.
F&O Ban
The National Stock Exchange has put Indiabulls Housing Finance to its F&O ban list for July 5. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.