On Thursday, July 17, the Nifty 50 and Sensex are likely to witness a higher opening after U.S. President Donald Trump said the U.S. is 'very close to a trade deal with India.' Hopefully, the U.S.-India tariff agreement works out in India’s favor.
As of 7:10 AM, the GIFT Nifty was trading near the 25,269 mark, up 38 points from its previous close, indicating a positive start for the Indian benchmark indices.
Asian markets were seen trading mixed on Thursday morning amid Japan's falling exports for a second month. On Wall Street, the U.S. stock market ended with modest gains overnight, with the Nasdaq posting a record high for the fifth session in six. Markets dipped sharply midday on speculation about Powell’s dismissal, but recovered after Trump denied the report.
The Indian stock market indices have been on an upward trend for the past two sessions, supported by stock-specific actions. According to the earnings schedule, over 36 companies are slated to release their June quarter results today.
Axis Bank, Wipro, Jio Financial Services, LTIMindtree, HDFC Asset Management Company, Indian Hotels Company, Polycab India, Tata Communications, 360 ONE WAM and Newgen Software Technologies will announce their Q1 earnings today.
On Wednesday, July 16, Foreign Institutional Investors (FIIs) were net sellers, having sold equities worth ₹1,858.15 crore. Domestic Institutional Investors (DIIs), on the other hand, bought shares totalling ₹1,223.55 crore during the same session.
Markets continued their consolidation phase on Wednesday, with the Nifty 50 closing slightly higher by 0.06% at 25,212.05. The Bank Nifty gained 0.28% to settle at 57,168.95. Sector-wise, FMCG, IT, and Realty indices were among the notable gainers, while Metals and Pharma sectors saw some pressure. Broader markets, including mid-cap and small-cap segments, also ended the day largely unchanged.
Asian markets traded mixed on Thursday, weighed down by concerns over Japan’s falling exports for the second consecutive month. However, comments from U.S. President Donald Trump helped soothe investor nerves as he dismissed speculation about removing Federal Reserve Chairman Jerome Powell.
Japan's exports declined for the second consecutive month in June, slipping by 0.5% year-on-year. This drop came against market expectations of a 0.5% rise and followed a 1.7% fall in May — the first decline in eight months. Meanwhile, imports edged up by 0.2% compared to June last year, defying projections that anticipated a 1.6% decline. As a result, the country recorded a trade surplus of 153.1 billion yen (approximately $1.03 billion), which was lower than the expected surplus of 353.9 billion yen.
U.S. stock markets closed slightly higher on Wednesday, with the Nasdaq Composite setting a new record despite a mid-session dip. Markets briefly turned volatile after President Donald Trump was considering the removal of Federal Reserve Chair Jerome Powell, but the report was denied.
The speculation triggered a sharp drop of over 1% in both the S&P 500 and Nasdaq around midday, alongside a weakening dollar and rising Treasury yields. However, Trump later denied the report, helping markets recover. The Nasdaq Composite ended up 52.69 points, or 0.26%, at 20,730.49—its fifth record close in the last six sessions. The Dow Jones Industrial Average rose 231.49 points, or 0.53%, to finish at 44,254.78, while the S&P 500 gained 19.94 points, or 0.32%, closing at 6,263.70.
U.S. factory production saw a slight rise in June, with manufacturing output increasing by 0.1%, following a revised 0.3% gain in May. This outcome surpassed economists’ expectations, who had projected no change after the initial estimate of a 0.1% rise in May. On a year-over-year basis, factory production was up 0.8% in June. For the second quarter, manufacturing grew at an annualised pace of 2.1%, easing from the 3.7% growth recorded in the first quarter of the year.
Oil prices edged higher in early Thursday trade, rebounding from the previous day’s dip. The uptick was driven by unexpectedly strong economic indicators from major oil-consuming nations and a slight improvement in global trade relations.
Meanwhile, the U.S. dollar remained under pressure, slipping after reports suggested President Donald Trump might be considering removing the Federal Reserve Chair, leading to growing uncertainty.
Gold prices steadied after a volatile session as traders assessed the outlook for Powell’s tenure as Federal Reserve chair. Gold price was steady at $3,343.61 an ounce, after rising 0.7% in the previous session.ty in financial markets.
Disclaimer: The article is for informational purposes only and not investment advice.
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