On Wednesday, July 23, Gift Nifty is indicating a positive start for the benchmark Nifty as Wall Street stock futures and Japanese Nikkei are up after President Donald Trump announced a new trade agreement with Japan that includes a 15% tariff on Japanese exports to the US.
As of 7:20 AM, the GIFT Nifty was trading near the 25,163 mark, up 79 points from its previous close.
Wall Street ended with a mixed performance as investors focused on selling technology stocks after the US-Japan trade deal.
Market participants are likely to react to the Q1 earnings of Paytm and IRFC, announced post-market on Tuesday.
Infosys, TATA Consumer Products, Dr Reddys Laboratories, Bajaj Housing Finance, SRF, Persistent Systems, Oracle Financial Services Software, COFORGE LIMITED, Syngene International, Aditya Birla Real Estate, Force Motors, Bikaji Foods International, Maharashtra Scooters, PCBL Chemical, Supreme Petrochem, Tata Teleservices (Maharashtra) will announce their Q1 earnings today.
On Tuesday, July 22, Foreign Institutional Investors (FIIs) were net sellers, having sold equities worth ₹3,548.92 crore. Domestic Institutional Investors (DIIs), on the other hand, bought shares totalling ₹5,239.77 crore during the same session.
On Tuesday, Indian equity benchmarks closed nearly flat as gains in Zomato’s parent company, Eternal, following its earnings report, were offset by losses in Reliance Industries and concerns over a pending trade agreement with the United States. The Nifty 50 slipped 0.12% to 25,060.9, while the BSE Sensex ended marginally lower by 0.02% at 82,186.81. Hopes for an interim India-US trade pact before the August 1 deadline have weakened, with negotiations stalled over tariff reductions on major agricultural and dairy goods.
On Tuesday, the S&P 500 ended at a fresh record high, rising 0.06% to 6,309.62 points, as investors shifted their focus to ongoing earnings announcements and updates on US trade negotiations. The session saw mixed moves among major indexes, with the Nasdaq declining 0.39% to 20,892.69 points, while the Dow Jones Industrial Average gained 0.40%, closing at 44,502.44 points. General Motors posted steep losses, whereas Tesla advanced, contributing to the day’s divergent market performance.
US President Donald Trump announced that the United States and Japan have reached a trade agreement that reduces tariffs on US imports from Japan, including automobiles, to 15% from the existing 25%. Posting on Truth Social, Trump mentioned that the pact also involves $550 billion in Japanese investments in the US.
Gold reached its highest level in over five weeks, buoyed by a weaker US dollar and declining Treasury yields. Spot gold held steady at $3,430.19 per ounce after touching its strongest level since June 16 earlier in the day, while US gold futures remained flat at $3,443.30.
Crude oil prices moved higher as traders kept an eye on developments in tariff negotiations between the US and major trading partners. Brent crude climbed 0.54% to $68.96 per barrel, whereas US West Texas Intermediate (WTI) futures slipped 1.47% to $66.21.
The US dollar stayed fragile against the yen, hovering near 146.61 after a 0.5% drop in the prior session. The euro edged down 0.1% to $1.1739, and the British pound was nearly unchanged at $1.35235. Meanwhile, the dollar index, which measures the greenback against key currencies, remained steady at 97.430 following a three-day losing streak.
Disclaimer: The article is for informational purposes only and not investment advice.
For android only