Kolkata: Can Sensex and Nifty swing back into the positive territory where they showed such spirited movement in the last week (June 23-27)? That’s the question on the lips of investors on the morning of July 1. It doesn’t seem impossible since the global cues are positive this morning. After a four-day positive gaining streak, both Sensex and Nifty ended in the red, declining by 0.54% and 0.47% respectively.
Global cues this morning
Significantly, GIFT Nifty was trading in the green — 0.12% up at 7:30 am. All the major US indices Dow Jones Futures, S&P500 and Nasdaq ended Monday in the green — up 0.12%, 052% and 0.47% respectively. European indices FTSE, CAC and DAX in Europe were however, in the red at the end of the trading session on June 30. The Asian indices could bolster investor sentiments in the morning. Straits Times, Taiwan Weighted, KOSPI and were trading in the green. Nikkei 225 was in the red though. The price of Brent Crude, the benchmark for global crude oil, declined on June 30.
Sensex, Nifty yesterday
The Indian markets ended June 30 on a negative note since investors booked profits and no prominent positive triggers were visible. However, the PSU Bank index jumped 2.60%, pharma index rose 0.5%. But realty, FMCG, auto, metal ended the trading session in the red. At close Sensex was down 452.44 points at 83,606.46 and Nifty was down 120.75 points at 25,517.05. Among the Sensex pack, Axis Bank (2.11%), Kotak Mahindra (2.03%) and Maruti (1.95%) were the key laggards while Trent (3.34%), SBI (1.86%) and Bharat Electronics (1.63%) were the big gainers. BSE Mid Cap and Small Cap indices gained by 0.67% and 0.81% respectively.
On the economy front
On the economy front, India’s industrial production dipped to a nine-month low of 1.2% in May against 2.6% in April. Bank gross NPAs are at the lowest in many years. The reason seemed to be excess rains which depressed the performance of many sectors. On the fiscal front, the government had a surplus of Rs 13,163 crore for the first two months of the year. Gross GST collections rose 100% in five years to reach an all-time high of Rs 22.08 lakh crore in FY25. Itb was Rs 11.37 lakh crore in FY21. The average monthly collection too rose from Rs 1.68 lakh crore in FY24 to Rs 1.84 lakh crore in FY25.
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