Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 likely to open higher, IT and oil stocks in focus

Indian benchmark indices Sensex and Nifty 50 are likely to open higher on July 14 even as there seems to be some slight worry given the selling pressure seen in the last hour of the trading session yesterday.

The pullback was quite significant with the last session selling pressure taking the Nifty 50 lower quite significantly. The Nifty 50 ended near the flat line.

As far as the global industries are concerned, the US market ended well in the green. In fact, the NASDAQ gained over a percent and a half, seeing the highest close since April 2022. European markets ended with strong gains continuing their rally up almost over 0.7 percent.

Crude oil prices, however, gained further traction. Crude oil prices are trading at a fresh three month high with Brent futures yesterday gaining over a percent and a half to the $81.36 a barrel mark.

Back home, banking stocks have been performing poorly compared to the rest of the market. On the other hand, a surprise pocket of out the performance was seen from the Nifty IT index with TCS and HCL Tech. Despite muted results, the tech stocks closed with gains while the metal pack was one that saw significant gains as well.

Another key thing to watch out for is the Asian markets, which were lending a helping hand this morning and the GIFT Nifty indicated a slightly positive start for the domestic markets.