On Thursday, July 24, GIFT Nifty signalled a positive opening for the benchmark Nifty, supported by overnight gains on Wall Street stocks. Asian markets were also seen trading in green amid optimism over a potential agreement with the European Union (EU).
As of 7:20 AM, the GIFT Nifty was trading near the 25,290 mark, up 41 points from its previous close.
US stock market ended higher on Wednesday on optimism over a trade deal with the European Union, with the S&P 500 and Nasdaq notching record high closes.
Market participants are likely to react to Infosys' Q1 earnings, announced post-market on Wednesday. Following Wall Street’s opening, Infosys’ American Depository Receipt (ADR) rose over 3% on the New York Stock Exchange (NYSE) after the company reported a 9% increase in its consolidated net profit for the first quarter of FY 2025–26.
Bajaj Finance, Nestle India, SBI Life Insurance Company, CG Power and Industrial Solutions, REC, Adani Energy Solutions, Canara Bank, Indian Bank, Coromandel International, Motilal Oswal Financial Services, Supreme Industries, Hexaware Technologies, Mphasis, Phoenix Mills, APL Apollo Tubes, ACC and Aditya Birla Sun Life AMC will announce their Q1 earnings today.
On Wednesday, July 23, Foreign Institutional Investors (FIIs) were net sellers, having sold equities worth ₹4,209.11 crore. Domestic Institutional Investors (DIIs), on the other hand, bought shares totalling ₹4,358.52 crore during the same session.
On Wednesday, Indian equity indices closed higher, mirroring gains across Asian markets, after a surprise trade pact between the US and Japan lifted expectations of similar deals with other partners. The Nifty 50 climbed 0.63% to 25,219.9, while the BSE Sensex advanced 0.66% to settle at 82,726.64.
On Wednesday, the S&P 500 and Nasdaq finished at new record levels, supported by strong performances from Nvidia and GE Vernova. Investor sentiment improved on indications that the US and European Union are close to finalising a trade agreement similar to the one previously signed between the US and Japan under President Donald Trump.
The S&P 500 gained 0.78% to settle at 6,358.91, while the Nasdaq moved up 0.61% to 21,020.02. The Dow Jones Industrial Average added 1.14%, ending the session at 45,010.29, nearing its all-time closing peak recorded on December 4.
Gold held steady as optimism around US trade negotiations with major partners reduced demand for safe-haven assets. Spot gold inched up by 0.1% to $3,389.77 per ounce, trimming losses from the prior session’s 1.3% decline.
Crude oil prices remained firm, supported by progress in US trade discussions and tighter inventory levels. Brent crude climbed 0.31% to $68.72 a barrel, while US WTI futures advanced 0.35% to $65.48.
Disclaimer: The article is for informational purposes only and not investment advice.
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