On Tuesday, July 29, Gift Nifty is indicating a negative start for the benchmark Nifty, following mixed sentiment from global markets.
Asian markets traded lower, while the US stock market ended mixed, as investors focused on trade deals and awaited the US Federal Reserve policy outcome. Strictly speaking, the street is not expecting any rate cut at the July Fed meeting, but still, traders will be glued to Federal Reserve Chair Jerome Powell's press conference, looking for clues on the central bank's rate-cut plans or commentary on President Donald Trump's aggressive campaign for lower interest rates.
As of 7:20 AM, the GIFT Nifty was trading near the 24,666 mark, down 38 points from its previous close.
Market participants are likely to react to Mazgaon Dock, Waree Energies and Indusind Bank's Q1 earnings, announced post-market on Monday.
Larsen & Toubro (LT), NTPC, Asian Paints, Varun Beverages, GMR Airports, GE Vernova TD India, Bank of India, Apar Industries and Piramal Enterprises will announce their Q1 earnings today.
On Monday, July 28, Foreign Institutional Investors (FIIs) were net sellers, having sold equities worth ₹6,082.47 crore, continuing a streak of 6 trading sessions. Domestic Institutional Investors (DIIs), on the other hand, bought shares totalling ₹6,764.55 crore during the same session. DIIs have bought shares for the last 16 trading sessions.
On Monday, Indian equities continued their downward trend, closing significantly lower as heavy selling by foreign portfolio investors and uncertainty over India-US trade discussions weighed on sentiment. The Sensex fell by 572.07 points (0.70%) to end at 80,891.02, while the Nifty 50 declined 156.10 points (0.63%) to finish at 24,680.90.
India’s industrial output growth eased to a 10-month low of 1.5% in June 2025, weighed down by weaker performance in the mining and power sectors. According to the Index of Industrial Production (IIP), factory activity had recorded a 4.9% rise in June 2024. Meanwhile, the National Statistical Office (NSO) revised May 2025’s industrial growth upwards to 1.9%, compared to the earlier provisional figure of 1.2%.
On Monday, US markets closed on a mixed note as investors assessed the recently agreed US-EU trade deal. The S&P 500 marked its sixth consecutive record close, edging up by 1.13 points or 0.02% to settle at 6,389.77. The Dow Jones Industrial Average slipped 64.36 points, or 0.14%, finishing at 44,837.56, while the Nasdaq Composite advanced 70.27 points, or 0.33%, ending the session at 21,178.58..
The US Dollar Index maintained its earlier gains, holding steady around 98.67.
Gold prices retreated as easing concerns over a potential global tariff conflict and a firmer US dollar weighed on demand. Spot gold fell 0.2% to $3,308.39 per ounce, after touching its weakest level since July 9 in the previous session. US gold futures were marginally lower, down 0.1%, at $3,306.20.
Crude oil prices continued to edge higher, supported by expectations of stronger economic activity following the US-EU trade agreement and prospects of a US-China tariff ceasefire. Brent crude rose 0.09% to $70.10 a barrel, while US WTI crude gained 0.06% to $66.75 a barrel.
Disclaimer: The article is for informational purposes only and not investment advice.
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