Monday, July 15, 2024

8 significant developments in the Indian stock market over the weekend: Nifty’s rise, impact of US nonfarm payrolls, and fluctuating oil prices.

Key Global Market Cues for Sensex Today

The Indian stock market is gearing up for a tepid opening on Monday, with Sensex and Nifty 50 expected to reflect mixed cues from global markets. Asian markets traded on a mixed note, while the US stock market closed at record levels last week.

According to Reuters, US jobs growth slowed slightly in June, prompting analysts to predict a more active debate on rate cuts in the upcoming US Federal Reserve meeting. Market participants are currently anticipating two interest rate cuts in 2024, with the first one expected in September.

In India, the benchmark indices ended on a mixed note on Friday, with Sensex dropping marginally while Nifty 50 saw a slight increase. Market experts are now looking forward to Q1FY25 earnings reports and inflation data releases from India, the US, and China.

With key global cues driving market movements this week, investors will be closely monitoring Union Budget-related announcements, Q1 results, flow of foreign funds, and trends in crude oil prices. Stay tuned for more updates on how the Indian stock market unfolds in the coming days.

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