Live Market Updates : 13 July

Thursday's market outlook appears flat for the broader index as the GIFT Nifty shows a marginal loss of 11.5 points. The futures stand at 19,553.5.

In the US, Wall Street experienced gains after a surprisingly benign US inflation report, raising hopes that the Federal Reserve will soon conclude its tightening of monetary policies. The Dow Jones Industrial Average rose 0.3 percent to reach 34,347.43. Similarly, the S&P 500 climbed 0.7 percent to 4,472.16, and the Nasdaq Composite Index recorded a 1.2 percent increase, reaching 13,918.96.

Across Asia-Pacific markets, a majority witnessed growth following the lower-than-expected US inflation rate of 3 percent in June, which marked the smallest increase in two years. South Korea's Kospi and Kosdaq saw gains of 0.81 percent and 1.27 percent, respectively, as the Bank of Korea maintained its key policy rate at 3.5 percent, in line with expectations.

In the currency market, the dollar continued to weaken in Asia, as traders interpreted slower US inflation as an indication that interest rate hikes will likely conclude soon. The euro reached a 15-month high of $1.1141, while the yen strengthened to its highest level since mid-May, trading at 138.16 per dollar. The US dollar index slightly fell to 100.47, marking its lowest level since April 2022.

On the investment front, foreign institutional investors (FII) turned net sellers in July 2023, selling shares worth Rs 1,242.44 crore. Conversely, domestic institutional investors (DII) purchased shares worth Rs 436.71 crore on July 12, according to provisional data from the National Stock Exchange (NSE).