Markets Open With Volatility, Sensex Tests 84K, Nifty Marginally Down

The Indian markets began trading on Monday with major volatility. The BSE Sensex slipped 37 points to trade at 84,021, while the NSE Nifty50 stood at 25,629, declining about 8 points, as of 9:15 AM.

The GIFT Nifty remained in green on Monday and touched 25,790, inching up more than 50 points. This indicated a favourable day ahead for the domestic indices. 

However, volatility remained heavy in the markets. In the pre-open session, the Sensex slipped 32 points and tested 84K, while the Nifty climbed over 20 points and moved beyond 25,650, as of 9:12 AM.

Broader Markets

On the Sensex, Trent, State Bank of India, L&T, Eternal, and Axis Bank dominated in green. Meanwhile, the laggards included M&M, Kotak Bank, Bharti Airtel, NTPC, and Reliance.

In the broader markets, the Nifty Smallcap50 stood out and climbed 0.86 per cent in the opening market hour. Sectorally, the PSU Bank index seemed to take the lead and jumped 1.77 per cent in the morning. On the other hand, the Auto index slipped 0.46 per cent.

PMI Data Releases This Week

Markets are likely to track macroeconomic data releases this week. India’s Industrial Production Output for May is set to be released this evening. Further, the Manufacturing Purchasing Managers’ Index (PMI) will be revealed on July 1, followed by the Services PMI on July 3. 

Notably, markets enjoyed a strong momentum last week. Backed by easing tensions between Israel and Iran, and a sharp correction in oil prices, the Sensex surged 2 per cent or 1,650.73 points, while the Nifty gained more than 500 points during the week. 

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