Stock Market Live Updates July 8, 2024: Global Trends, IT majors’ earnings to guide market sentiment this week

Sensex, Nifty, Share Prices LIVE: Equity markets are expected to take cues from global trends and foreign investor activity this week, with first-quarter earnings from IT majors TCS and HCL Technologies likely to influence investor sentiment, analysts said. Following a record rally last week, markets may consolidate, they added. Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, noted that key earnings reports from TCS and HCL Technologies on July 11 and 12, along with the Union budget and monsoon developments, are significant events. Additionally, US Federal Reserve Chair Jerome Powell’s testimony on July 9 will be closely monitored.

Gour said investors will also track the activities of foreign and domestic institutional investors and crude oil prices. The BSE Sensex and Nifty hit all-time highs on July 4. Economic data, including India’s CPI and industrial production and US and UK economic indicators, will also guide market outlooks, said Arvinder Singh Nanda of Master Capital Services Ltd.