Market Live Update
On Friday, the GIFT Nifty indicated a flat start for the broader index with a gain of 15 points, while the futures stood at 19,503. In European markets on Thursday, stocks fell sharply as traders absorbed new economic data from the U.S. The pan-European Stoxx 600 index closed down 2.5%, with all sectors and major bourses finishing in the red. In the U.S., Wall Street's main indexes ended sharply lower due to a broad sell-off sparked by strong labor market data. The S&P 500 experienced its biggest daily percentage drop since May 23, while the Dow Jones and Nasdaq Composite also posted significant losses.
Asian markets followed suit and marked a second day of declines after the sell-off in Wall Street. The stronger-than-expected U.S. jobs data raised the possibility of more rate hikes by the Federal Reserve.
Australia's S&P/ASX 200 fell 1.8%, leading losses in the region.
Japan's Nikkei 225 and the Topix both experienced declines, with South Korea's Kospi also sliding as Samsung Electronics projected a significant drop in its second-quarter operating profit.
In the crude oil market, prices remained largely unchanged on Friday but were set to post weekly gains. Concerns about higher U.S. interest rates that could dampen energy demand were offset by signs of tighter supply after a larger-than-expected fall in U.S. oil stocks.
According to provisional data from the National Stock Exchange, on July 6, foreign institutional investors (FII) bought shares worth Rs 2,641.05 crore, while domestic institutional investors (DII) sold shares worth Rs 2,351.66 crore.
