The Indian benchmark indices, the BSE Sensex and the NSE Nifty50, are poised for another subdued start, tracking mixed cues from global markets. While Asian equities edged lower, weighed down by uncertainty over potential U.S. interest rate cuts and the race to finalise trade deals ahead of American President Donald Trump’s July 9 tariff deadline, Wall Street closed on a strong note in overnight trade.

At 8:00 AM, the GIFT Nifty was hovering around 25,510, up 10 points, suggesting a flat opening for the Indian equity markets.

On Thursday, the domestic bourses closed lower for the second straight session amid high volatility on the weekly F&O expiry. Investor sentiment remained cautious, weighed down by foreign fund outflows, weakness in the Indian rupee, and lingering uncertainty surrounding the India-U.S. trade deal as the U.S. tariff deadline inched closer.

The BSE Sensex ended the session at 83,239.7, down 170.22 points or 0.2%, while the NSE Nifty50 slipped 48.1 points, or 0.19%, to settle at 25,405.3. Among the Sensex constituents, 18 of the 30 stocks settled in negative terrain. The top five losers were Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Adani Ports, and Titant, falling in the range of 1.9% to 0.76%. On the other hand, Maruti Suzuki, Infosys, Asian Paints, NTPC, and Hindustan Unilever were among the top five gainers.

Wall Street rally pushes S&P 500, Nasdaq to record highs

The S&P 500 and the Nasdaq Composite—two major U.S. stock market indices—closed at their highest levels ever in overnight trading as investors reacted positively to a stronger-than-expected American jobs data for June. The strong jobs report, however, dampened hopes for an interest rate cut by the U.S. Federal Reserve in the near term. The S&P 500 surged 0.83%, the Nasdaq Composite advanced 1.02%, while the Dow Jones Industrial Average gained nearly 0.8%.

Asian stocks edge lower amid U.S. tariff concerns

The stock markets in the Asia-Pacific region were mostly in the red as investors turned jittery ahead of Trump’s July 9 tariff deadline. The persistent uncertainty about U.S. trade deals has dented sentiment, raising fear that reciprocal tariffs could disrupt global trade, supply chains, and economic growth.

The equity markets in Hong Kong, China, Singapore, South Korea, and Taiwan were trading lower, while Japan and Indonesia were marginally up. South Korea’s Kospi was the worst performer with a 1.6% loss, followed by Hong Kong’s Hang Seng, falling over 1%.

Stocks to watch

Reliance Industries: Reliance Retail has made a minority investment in the U.K.’s FACEGYM to expand its presence in the high-growth beauty and wellness space.

Oil and Natural Gas Corporation (ONGC): The oil and gas major has entered into a deal with Japan’s Mitsui O.S.K. Lines to build, own, and operate two very large ethane carriers (VLECs).

Emcure Pharmaceuticals: BC Investments IV (Bain Capital) is looking to offload a 2.4% equity stake worth ₹551 crore in the company via block deals.

Piramal Pharma: U.S.-based investment firm Carlyle Group plans to sell up to a 10% stake in the company via block trades.

Godavari Biorefineries: The company, engaged in the manufacture of ethanol-based chemicals, has been granted a patent in Europe for its novel anti-cancer molecule.

Kaynes Technology India: The company has proposed to make an investment of $17.7 million to acquire 17.52 million shares in its subsidiary, Kaynes Holding Pte, in one or more tranches.

InterGlobe Aviation: IndiGo's parent has appointed Amitabh Kant as a non-executive director on its board, subject to requisite approvals.

Aegis Logistics: The company has commissioned its liquified petroleum gas (LPG) cryogenic terminal, with a static storage capacity of 48,000 MT, at Pipavav for storage and terminalling of LPG.

NBCC India: The company has received fresh orders worth ₹65.73 crore to provide project management consultancy (PMC) services for various building projects.

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