On Friday, July 25, Gift Nifty is indicating a turbulent start for the benchmark Nifty, following global cues and Q1FY26 earnings. Asian markets traded lower, while the US stock market ended mixed overnight, with the Nasdaq and S&P closing at record highs.
As of 7:27 AM, the GIFT Nifty was trading near the 24,993 mark, down 93 points from its previous close
In macroeconomic developments, India concluded a Free Trade Agreement (FTA) with the United Kingdom, aimed at boosting annual bilateral trade, while the European Central Bank held interest rates steady after multiple cuts to review evolving economic conditions.
Market participants are likely to react to Bajaj Finance's Q1 earnings, announced post-market on Thursday.
Bajaj Finserv, Bank Of Baroda, Cipla, Shriram Finance, SBI Cards & Payment Services, Schaeffler India, Steel Authority of India, Petronet LNG, Laurus Labs, Poonawalla Fincorp and Tata Chemicals will announce their Q1 earnings today.
On Thursday, July 24, Foreign Institutional Investors (FIIs) were net sellers, having sold equities worth ₹2,133.69 crore. Domestic Institutional Investors (DIIs), on the other hand, bought shares totalling ₹2,617.14 crore during the same session.
Indian equities ended lower on Thursday, dragged down by post-earnings declines in IT and consumer stocks, along with a pullback in financial services after a three-day rally.
Market participants kept a close eye on trade negotiations with the US as discussions for a free-trade agreement with the U.K. appeared to be nearing completion. The Nifty 50 closed at 25,062.1, down 0.63%, while the BSE Sensex slipped 0.66% to finish at 82,184.17.
India has concluded a significant Free Trade Agreement (FTA) with the United Kingdom, expected to raise annual trade between the two nations by about $34 billion. The agreement offers wider market access, granting tariff advantages to 99% of Indian exports, while making British goods such as whisky, automobiles, medical equipment, and cosmetics more accessible in India.
The European Central Bank (ECB) has maintained its key interest rate at 2%, pausing after a year of consecutive reductions to assess upcoming developments in Europe’s trade relationship with the United States. Since June 2024, the ECB has lowered rates eight times.
The US stock market closed with a mixed performance as the S&P 500 and Nasdaq finished at record highs, driven by optimism around major artificial intelligence stocks following Alphabet’s Q2 results. The Dow Jones Industrial Average slipped 0.70% to 44,693.91, while the S&P 500 inched up 0.07% to 6,363.35, and the Nasdaq added 0.18% to settle at 21,057.96.
New applications for unemployment benefits in the US declined unexpectedly last week. For the week ending July 19, initial state jobless claims fell by 4,000 to a seasonally adjusted 217,000.
Gold prices edged higher as a softer dollar provided support, though optimism around ongoing trade talks between the US and its partners limited the upside, according to Reuters. Spot gold traded at $3,371.86 per ounce, up 0.1%, while US gold futures hovered near $3,374.80 with minimal movement.
Crude oil prices also moved up after reports suggested Russia might impose restrictions on gasoline exports to several countries. Brent crude futures rose 0.30% to $69.39 a barrel, and US West Texas Intermediate (WTI) crude futures gained 0.32% to $66.24 per barrel.
Disclaimer: The article is for informational purposes only and not investment advice.
For android only