Nifty Poised for Positive Open on Tuesday, July 7: Eight Stocks to Consider for Long-Term Investment
Indian Stock Market Expected to Open on a Positive Note
The Indian benchmark indices, the Sensex and Nifty 50, are likely to open on a positive note on Tuesday, following overnight gains on Wall Street. Although mixed trends across Asian markets may keep sentiment cautious, domestic equities have extended their winning streak for a fourth consecutive session, supported by improving risk appetite amid the revival of the monsoon and sustained buying by foreign institutional investors (FIIs).
On Monday, the BSE Sensex climbed 521.16 points, or 0.67%, to close at 78,285.07, while the Nifty 50 advanced 159.50 points, or 0.66%, to settle at 24,430.35. The US stock market closed higher, led by a strong rally in technology stocks, while Asian equities traded mixed in early deals.
Global Market Update
The US-Iran tensions remain a concern, with an unidentified projectile striking an oil tanker off the coast of Oman, triggering a fire near the Strait of Hormuz. The incident comes despite the ongoing ceasefire between the United States and Iran and renewed diplomatic efforts aimed at reaching a lasting peace agreement, highlighting the fragile security situation in the region.