Sensex, Nifty updates on 9 July 2024: India’s benchmark indices, Sensex and Nifty, opened positively on Tuesday, amidst expectations of continued intra-day volatility. The BSE Sensex gained 169.52 points to reach 80,129.90, while the NSE Nifty rose by 43.25 points, trading at 24,363.80. Analysts noted that market attention is now turning towards the financial results of India Inc., which are set to start trickling in this week. Analysts anticipate a potentially range-bound session due to the absence of fresh market-moving catalysts. Motilal Oswal Financial Services forecasts flat earnings growth for the MOFSL Universe and a 4% year-on-year increase for Nifty in Q1 FY25. Key sectors like Auto and BFSI are expected to drive earnings growth, while global cyclicals such as Oil & Gas and Cement face challenges. Technical analysts suggest that the market remains technically stable, with potential corrections in the near term. Traders are advised to remain vigilant for stock-specific opportunities amidst sectoral rotations and ongoing bullish sentiments across the Asia-Pacific region.
