Indian stock market: The equity market benchmark indices, Sensex and Nifty 50, are expected to open flat on Monday amid mixed global market cues.
Asian markets traded mixed, while the US stock market rallied last week, with the Nasdaq closing at record high level. US stock futures were higher ahead of inflation data this week.
Investors will focus on key stock market triggers this week, including developments in US-India trade talks, updates on tariffs, inflation data, US President Donald Trump and Russian President Vladimir Putin’s meeting, flow of foreign funds, Q1 results and other key domestic and global economic data.
On Friday, the Indian stock market ended sharply lower amid fears of the economic fallout of US President Donald Trump’s 50% tariffs on India.
The Sensex lost 765.47 points, or 0.95%, to close at 79,857.79, while the Nifty 50 settled 232.85 points, or 0.95%, lower at 24,363.30.
“Investors may adopt a defensive-to-neutral stance, prioritizing companies with strong domestic earnings visibility and minimal tariff exposure, while maintaining cash buffers for opportunities during deeper corrections. Global developments, especially from the US economic calendar and any signs of softening trade rhetoric, will be pivotal in determining whether the current downtrend persists or stabilizes,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed ahead of the deadline for the US–China tariff truce. MSCI’s broadest index of Asia-Pacific shares outside Japan was a fraction firmer.
Japan’s stock market was closed for a holiday. South Korea’s Kospi eased 0.02%, while the Kosdaq was flat. Hong Kong’s Hang Seng Index futures indicated a higher opening.
Gift Nifty Today
Gift Nifty was trading 24,447 around level, a premium of nearly 6 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
Wall Street
US stock market ended higher on Friday, with the Nasdaq notching a record closing high for the second straight day, led by a rally in technology shares.
The Dow Jones Industrial Average gained 206.97 points, or 0.47%, to 44,175.61, while the S&P 500 rose 49.45 points, or 0.78%, to 6,389.45. The Nasdaq Composite closed 207.32 points, or 0.98%, higher at 21,450.02. For the week, the S&P 500 rallied 2.4%, the Dow Jones surged 1.3% and the Nasdaq jumped 3.9%.
Apple share price gained 4.2%, Nvidia shares rose 1.09%, Tesla stock price rallied 2.30%, while HP shares surged 3%. Gilead Sciences stock jumped 8.3% and Expedia rose 4.1%.
Trump-Putin Meeting
United States President Donald Trump has announced that he would be meeting Russian President Vladimir Putin in Alaska on August 15. While Donald Trump said that they would meet in Alaska, Kremlin adviser Yuri Ushakov said it was “natural” to hold the discussion in Russia.
Gold Prices
Gold prices declined as traders await more clarity on US tariff policy. US gold futures were down 1.2%, while spot gold prices slipped 0.3% to $3,387.14 an ounce.
Dollar
The US dollar index was steady at 98.246 after slipping 0.4% last week. The euro was flat at $1.1644 and above its recent trough of $1.1392, while the dollar held at 147.66 yen having met resistance around 147.90.
Crude Oil Prices
Crude oil prices declined on hopes of a ceasefire in Ukraine and more supply ahead of the Trump and Putin meeting later this week. Brent crude oil fell 1.07% to $65.88 a barrel, while the US West Texas Intermediate (WTI) crude futures declined 1.17% to $63.13.
(With inputs from Reuters)
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
