Nifty

Equity market benchmark indices Sensex and Nifty stayed on the back foot for the fifth straight session on Thursday as investors offloaded metal, banking and finance stocks amid a lacklustre trend in global markets.

Domestic markets are expected to remain volatile during the election season, said analysts. TCS will be the first major company to unveil quarterly results on Thursday. Gift Nifty at 24,400 signals a marginal gain for Nifty futures at open. On Wednesday, Nifty futures closed at 24,355. Besides, the focus has now shifted to the upcoming Budget, scheduled on July 23.

Equity benchmark indices rebounded in early trade on Thursday amid a rally in global markets and continuous foreign fund inflows.

BSE Sensex was up by 3.39 per cent or 2,507.47 points to 76,468.78, while the NSE Nifty was at 23,244.95 up by 3.17 per cent or 714.25 points at 3.30 pm.

Adani Group stocks rallied on Monday’s early trade after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls.

NSE Nifty was up by 0.18 per cent or 41.55 points to 22,955, while the BSE Sensex was at 75,568 up by 0.21 per cent or 158 points.

The global trend to anchor market direction with the election, result season entering the last leg.

Equity markets may witness a gradual up-move this week with some volatility as both election and earnings season are nearing their end, analysts said, adding that global trends and trading activity of foreign investors would hold significance in dictating investors' sentiment.

Benchmark indices closed at record highs on Thursday amid short covering by overseas investors, buying in banking, oil and auto shares, and a record dividend payout by the RBI to the government.

Equity benchmark indices Sensex and Nifty closed marginally lower on Friday as investors booked profit in FMCG, IT and healthcare stocks after the BSE Sensex and Nifty hit fresh lifetime highs in intra-day deals.