Stock Market LIVE on Monday, July 29, 2024: Indian stock markets could open higher today, tracking buzzing Asian markets.
At 6:37 AM, GIFT Nifty futures were up 88 points, trading at 25,003, suggesting a positive start for the day.
In the Asia-Pacific region, markets saw gains as investors assessed US inflation data. The Nikkei surged 2.70 per cent, the Kospi increased 1.37 per cent, and the ASX200 rose 0.92 per cent.
Furthermore, traders await a slew of economic data from major Asian economies. The Bank of Japan is anticipated to raise interest rates at its meeting on July 30, according to a Reuters poll. Additionally, China will release its July PMI data, and Australia will present its inflation figures ahead of the Reserve Bank’s monetary policy meeting on August 6.
In the US, stock futures rose slightly on Sunday evening ahead of a busy week of corporate earnings. However, on Friday, the S&P 500 closed 1.11 per cent higher, the Dow Jones gained 1.64 per cent, and the Nasdaq climbed over 1 per cent. Investors will also keep an eye on Fed interet rate decison on Wednesday.
Back in India, on July 26, foreign institutional investors (FIIs) purchased shares worth Rs 2,546.38 crore, while domestic institutional investors (DIIs) bought shares totaling Rs 2,774.31 crore.
