The Indian equity benchmarks, the BSE Sensex and the NSE Nifty, are set to open on a flat note on Wednesday, mirroring mixed cues from the global equity markets, amid lingering concerns about U.S. retrospective tariff. Investor sentiment remained guarded ahead of the July 9 tariff deadline set by U.S. President Donald Trump, with trade negotiations being closely monitored. At 7:50 AM, the GIFT Nifty futures were trading 9 points higher at 25,665, indicating a flat start for the Sensex and the Nifty.

On Tuesday, the Indian equity markets closed on a flat but positive note, amid cautious optimism across Asian markets. The BSE Sensex gained 90.83 points, or 0.11%, to close at 83,697.29, while the NSE Nifty50 ended with marginal gains of 24.75 points, or 0.10%, at 25,541.8. Among the broader indices, the Nifty Midcap100 closed flat, while the Nifty Smallcap100 fell 0.10% as investors booked some profit at higher levels.

Of the BSE Sensex pack, 20 of the 30 stocks ended in the green, led by Bharat Electronics Ltd (BEL), Reliance Industries, Asian Paints, UltraTech Cement, and Kotak Mahindra Bank, rising in the range of 0.9-2.5%. On the other hand, Axis Bank, Trent, Eternal (Zomato), Tech Mahindra, and ICICI Bank were among the top five losers, falling between 2.1% to 0.95%.

IT stocks drag Nasdaq, S&P 500; Dow Jones ends higher

In overnight trade, U.S. stocks ended on a mixed note, with the Nasdaq Composite and the S&P 500 closing in the red, weighed down by losses in large-cap tech stocks. On the other hand, the Dow Jones ended higher in choppy trade. The sell-off in the Nasdaq and the S&P 500 indices was attributed to profit booking as they touched all-time high levels in the previous session. The Dow Jones Industrial Average ended 0.91% higher, the S&P 500 slipped 0.11%, and the Nasdaq Composite fell 0.82%.

Asian markets trade in the red on tariff concerns

Equity markets in the Asia-Pacific region started the day on a weak note, led by Japan and South Korea, with investors turning jittery as the U.S. approaches the end of a 90-day tariff deadline next week. Japan’s Nikkei 225 index fell over 0.9% after Trump threatened to raise tariffs on the country and criticised Japan for not accepting American rice exports.

South Korea’s Kospi was the worst performer in the region with a loss of 1.2%, while the Taiwan Weighted index fell over 0.5%. China’s Shanghai Composite also opened marginally lower, while Hong Kong’s Hang Seng and Singapore Straits Times were trading higher in the range of 0.25% and 0.6%, respectively. Meanwhile, Australia’s ASX 200 ended flat.

Stocks to watch

JSW Energy: The company’s subsidiary, JSW Renew Energy Thirty Seven, has signed battery energy storage purchase agreements (BESPA) with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) for 250 MW and 500 MWh standalone battery energy storage system (BESS).

Nazara Technologies: Nodwin Gaming, a subsidiary of the company, has finalised the acquisition of a 92.3% stake in AFK Gaming Pvt. Ltd.

Lupin: The drug maker has secured approval from the U.S. FDA for its loteprednol etabonate ophthalmic gel used to treat eye inflammation and pain after eye surgery. 

Paras Defence and Space Technologies: The company's subsidiary, Paras Anti Drone Technologies, has received a letter of intent for an order worth ₹22.21 crore from the French defence company Cerbair.

Asian Paints: The anti-competition regulator Competition Commission of India (CCI) directed an investigation into the allegations of the abuse of market dominance against paint major Asian Paints following a complaint by Grasim Industries Ltd (Birla Paints Division).

RITES: The company has received an order worth $3.6 million (CIF) from African Rail Company for the supply of two fully overhauled ALCO locomotives for deployment in Zimbabwe, Mozambique, and Botswana.

Exicom Tele-Systems: The board has approved a rights issue of 1.81 crore shares worth ₹259.41 crore and has fixed the issue price at ₹143 per share.

Godrej Properties: The real estate company has sold a 2.5% stake in Vivrut Developers to Godrej Ventures and Investment Advisers for ₹8.63 crore.

Ellenbarrie Industrial Gases: Motilal Oswal Mutual Fund has acquired 20.95 lakh shares worth ₹107.08 crore in the newly listed company.

IPO listing: Shares of HDB Financial Services and Sambhv Steel Tubes will make their debut on the domestic bourses.  

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