Sensex, Nifty trade with marginal gains amid weak trends in global equities

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Benchmark stock indices rose in early trading on Thursday amid relentless foreign money flows but later faced choppy trends after a record high in the past few trading sessions.

Investors preferred to remain cautious amid weak global market trends and record rally in stocks.

30 servings of mad cow Sensex It rose 54.09 points to 65,500.13 in early trading. NSE elegant It rose by 21.15 points to 19,419.65 points.

Subsequently, both benchmarks experienced volatile trends and were trading marginally higher.

Of the Sensex Group, Nestle, Power Grid, Reliance Industries, Tata Motors, UltraTech Cement, Larsen & Toubro, Kotak Mahindra Bank and Wipro were among the biggest gainers.

IndusInd Bank, Tata Steel, Bajaj Finance, Maruti, HCL Technologies and Hindustan Unilever were among the latecomers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

US markets closed in negative territory on Wednesday.

Also read: Nifty Forecast Today – July 6, 2023: Wait for trend confirmation before trading

global oil standard, Brent crudeIt fell 0.21 percent to $76.49 a barrel.

“Negative sentiment across global equities could see domestic metrics suffer as early as Thursday, with profit-taking likely to continue after yesterday’s FOMC minutes until a July rate hike is on the table.

“Other factors that could affect sentiment are US-China tensions, lower manufacturing activity in China in June, and overbought technical conditions back home,” said Prashanth Tapsi, Senior Vice President (Research) at Mehta Equities Limited.

Foreign institutional investors (FIIs) continued their buying activity buying shares worth Rs 1,603.15 crore on Wednesday, according to exchange data.

US stocks closed lower on Wednesday as the S&P 500 snapped a three-day winning streak after minutes from the Federal Reserve’s latest policy meeting showed that almost all participants expected additional rate hikes after they unanimously decided to leave interest rates unchanged in June. Deepak Jasani, head of retail research at HDFC Securities, said.