Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open on a flat note on Tuesday, following mixed cues from global markets.
Asian markets traded mixed, while the US stock market ended higher overnight, with the S&P 500 and Nasdaq hitting record highs.
On Monday, the Indian stock market ended lower, breaking its four-day gaining streak, as investors booked profits following the strong rally. However, the market ended the month in the green for a fourth consecutive time
The Sensex declined 452.44 points, or 0.54%, to close at 83,606.46, while the Nifty 50 settled 120.75 points, 0.47%, lower at 25,517.05. For the month, Sensex rallied 2.65%, while Nifty 50 jumped 3.10%.
“We continue to advocate a ‘buy-on-dips’ approach, with a strong emphasis on selective stock picking. Notably, the ongoing strength in the broader indices is creating additional opportunities, but participants should stay cautious and limit positions to the fundamentally-sound counters only,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded mixed Tuesday following record gains overnight on Wall Street. Japan’s Nikkei 225 fell 1.03%, while the Topix index declined 0.56%. South Korea’s Kospi index rose 1.67%, while the Kosdaq gained 0.66%. Hong Kong markets are closed for a public holiday.
Gift Nifty Today
Gift Nifty was trading around 25,635 level, a premium of nearly 20 points from the Nifty futures’ previous close, indicating a mildly positive start for the Indian stock market indices.
Wall Street
US stock market ended higher on Monday, with the S&P 500 and Nasdaq reaching record closing highs, registering their best quarter in over a year on hopes for trade deals and possible interest rate cuts.
The Dow Jones Industrial Average gained 275.50 points, or 0.63%, to 44,094.77, while the S&P 500 rose 31.88 points, or 0.52%, to 6,204.95. The Nasdaq Composite closed 96.28 points, or 0.48%, higher at 20,369.73.
For the quarter, the S&P 500 surged 10.57%, the Nasdaq jumped 17.75%, and the Dow climbed 4.98%.
Apple shares rose 2.11%, Tesla stock price declined 1.89%, Hewlett Packard Enterprise shares rallied 11.1%, First Solar share price gained 8.8%, and Juniper Networks stock price spiked 8.45%.
US-India Trade Deal
White House Press Secretary Karoline Leavitt confirmed that the US and India are close to finalising a trade agreement, following President Donald Trump’s earlier announcement about the deal. “They are finalising these agreements, and you’ll hear from the President and his trade team very soon when it comes to India,” Leavitt said.
Fiscal Deficit
India’s fiscal deficit for April-May period of FY26 stood at ₹13,163 crore, amounting to 0.8% of the target for the whole of financial year 2025-26. For the same period last year, fiscal deficit was ₹50,615 crore.
IIP Data
India’s industrial production, measured in the Index of Industrial Production (IIP), grew 1.2% in May, marking its slowest pace in nine months. This is in stark contrast to the 6.3% expansion recorded in May last year. The ministry revised April’s growth figure to 2.6%, which still outpaces the May figure.
Japan Manufacturing PMI
Japan’s manufacturing sector expanded in June for the first time in 13 months. The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 in June from 49.4 in May.
Crude Oil Prices
Crude oil prices fell on expectations of an OPEC output hike in August and concerns of an economic slowdown driven by prospects of higher US tariffs. Brent crude futures declined 0.24% to $67.61 a barrel, while US West Texas Intermediate crude fell 0.38% to $64.86 a barrel.
Gold Prices
Gold prices rose, supported by a weaker US Dollar. Spot gold price gained 0.3% to $3,312.25 per ounce, while US gold futures gained 0.5% to $3,323.10.
Dollar
The dollar hit a near four-year low against the euro. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.35% to 96.86, its sixth straight month of losses. It is set to mark its worst half-year since the 1970s. The dollar was down 0.36% to 144.45 against the Japanese yen. The euro hit its highest against the dollar since September 2021 at $1.1780.
(With inputs from Reuters)
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