The Indian stock market opened on June 24, 2024, in the negative territory. The NSE Nifty 50 opened down by 118.80 points or 0.51% at 23,382.30, while the BSE Sensex dropped 324.25 points or 0.42% to 76,885.65 in the opening trade. The Bank Nifty index opened lower by 381.20 points or 0.74% at 51,280.25. Shivalic Power Control IPO opened today, and Rail Vikas Nigam Limited share price surged by 5.38%, reaching a new 52-week high of Rs 431.80 per share. Balrampur Chini Mills, Chambal Fertilisers & Chemicals, GNFC, HAL, Hindustan Copper, Indus Tower, and Piramal Enterprises were added to F&O on June 24, 2024. Foreign institutional investors (FII) offloaded shares worth Rs 1,790 crore, while domestic institutional investors (DII) bought shares worth Rs 1,237 crore on June 21, 2024. WTI crude prices were down 0.26% at $80.38, while Brent crude prices also declined 0.26% to $84.85. The US Dollar Index (DXY) rose by 0.06% to 105.88. Finance Minister Nirmala Sitharaman chaired the 53rd Goods and Services (GST) Council meeting in New Delhi. The S&P 500 and Nasdaq closed in negative territory on Thursday [1d5bdc11].
Gift Nifty was trading around 24,360 level, a discount of nearly 17 points from the Nifty futuresā previous close, indicating a muted start for the Indian stock market indices. Asian markets traded mostly higher, while the US stock market was closed overnight for a holiday. US stock futures were trading flat. The domestic equity market is expected to open flat with a negative bias on Friday tracking mixed cues from global markets. Investors now await the US nonfarm payrolls data to be released later today to gauge the trajectory of the US Federal Reserveās potential interest rate cuts. On Thursday, the Indian stock market indices ended with minor gains at record closing highs with the Sensex settling above the 80,000-mark for the first time. Samsung Electronics estimated a more than 15-fold rise in its second-quarter operating profit, led by a jump in semiconductor prices amid artificial intelligence boom. Samsung reported preliminary operating profit of 10.4 trillion won ($7.5 billion) for the June quarter from 670 billion won a year earlier. Sales were at 74 trillion won. Crude oil prices traded near a two-month high, with both benchmarks heading for a fourth weekly advance. Brent crude oil rose 0.07% to $87.49 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 0.16% to $84.01.
Overall, the Indian stock market opened with a negative sentiment on June 24, 2024. The Nifty 50 and Sensex opened lower, and the Bank Nifty index also started in negative territory. Investors are advised to closely monitor the market and consider the early indications from the Nifty and Sensex. The market is expected to remain volatile, and caution is advised as the impact of various factors, such as IPOs and global market trends, is assessed.