Indian equity benchmark indices, the BSE Sensex and NSE Nifty, are set to open slightly higher on Monday, taking mixed signals from global markets amid lingering worries over sharp U.S. tariff hikes on India. At 8:05 a.m., GIFT Nifty futures rose 45.5 points to 24,439, hinting at a positive start for the key indices.

Market participants will closely watch key market triggers, including progress in the U.S.-India trade talks, tariff updates, domestic CPI and WPI inflation data, the meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin, foreign fund flows, and corporate earnings.

“Near-term market direction will be shaped by clarity on U.S. tariff implementation, India’s diplomatic response, and incoming inflation readings. A sustained breach of key supports could accelerate profit-taking, particularly in trade-sensitive and export-oriented sectors. However, domestic demand-driven segments such as infrastructure, select autos, and rural-focused FMCG may display relative resilience if macro conditions hold steady,” said Ajit Mishra, SVP-research, Religare Broking Ltd.

Markets extend losing streak to 6th week

The Indian equity market extended its losing streak to the sixth consecutive week, marking its longest stretch of weekly declines since the Covid-19 market crash in 2020, amid growing concerns over the impact of U.S. tariffs on Indian exports. On Friday, the BSE Sensex closed 765.47, or 0.95%, lower at 79,857.79, while the NSE Nifty slumped 232.85 points, or 0.95%, to 24,363.30, hitting their 3-month low levels.

The sell-off was triggered earlier this week after Trump imposed a 25% tariff on Indian goods, escalating trade tensions over India’s imports of Russian oil. Sentiment was further dampened by weak Q1 earnings across key sectors and continued selling by foreign institutional investors (FIIs), which added to the pressure on equities.

Asian stocks edge higher

Asian shares traded mostly higher on Monday, tracking positive closing on Wall Street on Friday, ahead of the deadline for the U.S.-China tariff truce. Japanese markets will be closed Monday.

Indonesia’s Jakarta Composite was the top performer in the region, rising up to 0.9%, while China’s Shanghai Composite and Singapore’s Straits Times were marginally up. On the other hand, key indices in Hong Kong in South Korea were trading marginally lower, while Australia’s ASX 200 was up 0.35% in the final hour of trade.

Wall Street extends rally on Friday

On Friday, U.S. stocks ended higher for the second day, with the tech-heavy Nasdaq Composite registering a fresh record closing high. The Dow Jones Industrial Average closed 0.47% higher, the S&P 500 added 0.78%, and the Nasdaq Composite surged 0.98%. For the week, the Nasdaq rallied 3.9%, the S&P 500 advanced 2.4%, the Dow Jones climbed 1.3%.

Stocks to watch

Q1 results: Bata India, BEML, Tilaknagar Industries, Titagarh Rail Systems, Ashoka Buildcon, Ipca Laboratories, Astral, Awfis Space Solutions, Bajaj Consumer Care, Brigade Hotel Ventures, Enviro Infra Engineers, Krsnaa Diagnostics, Praj Industries, Travel Food Services, VST Tillers Tractors, and Websol Energy System will release their June quarter earnings report today.

ICICI Bank: The private sector lender has increased the average minimum balance requirement for savings accounts in metros and urban areas to ₹50,000 from the earlier ₹10,000, applicable to new accounts opened from August 1.

HPCL, BPCL, IOC: The Union Cabinet on Friday cleared a ₹30,000 crore compensation package for these three state-run oil marketing companies to offset under-recoveries from the sale of domestic LPG.

IDFC First Bank: Platinum Invictus B 2025 RSC has received the Reserve Bank of India approval to acquire up to 9.99% of IDFC First Bank’s paid-up share capital.

Bharti Airtel: Promoter entity Indian Continent Investment offloaded a 1% stake in the telecom company via a block deal, raising ₹11,200 crore.

Tata Motors: The auto major reported a 30.5% year-on-year (YoY) decline in consolidated net profit to ₹3,924 crore in Q1, compared to ₹5,643 crore in the same period last year. Revenue fell 2.5% to ₹1,04,407 crore in Q1 FY26, from ₹1,07,102 crore in the corresponding period last year.

Siemens: Siemens posted a 3.1% YoY drop in consolidated profit at ₹423.4 crore in the June quarter of CY25, down from ₹437 crore a year ago. Revenue rose 15.5% to ₹4,346.8 crore from ₹3,762.6 crore in the same period last year.

Voltas: The consolidated net profit fell sharply by 58% YoY to ₹140.5 crore in Q1 FY26, while revenue declined 20% to ₹3,938.6 crore.

Shipping Corporation of India: The PSU posted a 21.5% rise in consolidated profit to ₹354.2 crore in Q1FY26 from ₹291.5 crore last year, while revenue declined 13.1% to ₹1,316 crore from ₹1,514.3 crore.

DOMS Industries: The company reported a 10.5% YoY increase in consolidated net profit to ₹57.3 crore, while revenue climbed 26.4% to ₹562.3 crore.

Manappuram Finance: The company posted a 76.2% YoY drop in consolidated net profit to ₹132.5 crore in Q1FY26 from ₹556.5 crore last year. Revenue fell 14.2% to ₹1,407.1 crore from ₹1,639.9 crore.

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