Stock Market Today: All You Need To Know Before Going Into Trade On July 12

US stock traders cheered signs of disinflation, causing bond yields to plummet on Thursday. This comes as the markets expect the Federal Reserve to soon reduce interest rates. These expectations also triggered a significant shift in the stock market. Traders exited the long-favoured safety trade of technology megacaps and moved towards small caps.

The S&P 500 fell 0.74% to 5,592 after its longest rally this year. The Nasdaq 100 sank over 2.15% as of 12:59 p.m. The Russell 2000 climbed 3.13%, set for its best day in 2024. The Dow Jones Industrial Average rose 0.05%.

Brent crude was trading 0.05% lower at $85.04 a barrel. Gold rose 1.72% to $2,412.10 an ounce.

The Indian benchmarks opened positively but relinquished all gains within the first hours of trading. Under pressure from selling, the Nifty fell below 24,200. However, it recovered all losses during the second half of the session, ultimately closing nearly unchanged.

The NSE Nifty 50 settled at 8.50 points or 0.04%, lower at 24,315.95, and the S&P BSE Sensex closed at 27.43 points or 0.03%, lower at 79,897.34.

Overseas investors turned net sellers of Indian equities on Friday after being buyers for six days. Foreign portfolio investors offloaded stocks worth Rs 1,137.01 crore, while domestic institutional investors stayed net buyers for the fourth session and bought equities worth Rs 1,676.47 crore, according to provisional data from the National Stock Exchange.

The Indian currency weakened by 3 paise to close at 83.56 against the US dollar.