Opening bell: Sensex, Nifty set to open higher on global cues; U.S. tariffs, TCS Q1 results in focus

The Indian benchmark indices, the Sensex and the Nifty, are poised for a positive start on Thursday, tracking firm global cues. However, market sentiment is likely to remain cautious amid a slew of factors, including fresh U.S. tariff announcements, foreign fund flows, and upcoming corporate earnings. As of 8:15 AM, the GIFT Nifty futures were trading 30 points higher at 25,560, suggesting a gap-up opening for domestic equities.

In a fresh trade policy move, U.S. President Donald Trump announced a 50% tariff on Brazilian goods effective August 1, while also imposing duties of up to 30% on imports from seven countries, including Libya, Iraq, and Algeria. On a more positive note for India, Trump indicated that the U.S. is close to finalising a trade deal with India, a development that could bolster investor confidence.

Back home, investors will also react to the U.S. Federal Reserve’s June meeting minutes, which revealed a split among policymakers on the path of future interest rate moves, raising hopes of a potential rate cut in the near term.

On Wednesday, the domestic equities ended a volatile session on a muted note amid a lack of fresh triggers. The BSE Sensex closed 176.43 points lower at 83,536.08, while the NSE Nifty50 fell 46.4 points to settle at 25,476.10. The broader market saw a mixed trend, with the Nifty MidCap 100 slipping 0.13%, while the Nifty SmallCap index gained 0.59%.

Wall Street ends higher on rate cut hopes; Nvidia hits $4 trillion m-cap

The U.S. markets closed higher overnight, breaking a two-session losing streak, as investor sentiment improved on renewed hopes of interest rate cuts. The Federal Reserve's June meeting minutes revealed a split among policymakers over a potential rate cut in July. While some members favoured a cautious approach, others expressed concern that proposed tariffs could fuel consumer prices and hinder progress toward the Fed’s 2% inflation target. The Nasdaq Composite rose 0.94%, the S&P 500 added 0.61%, and the Dow Jones Industrial Average gained 0.49%.

On the corporate front, Nvidia continued its remarkable rally, becoming the first company in history to briefly surpass a $4 trillion market valuation, driven by sustained demand for artificial intelligence technologies. The chipmaker's shares settled 1.8% higher, closing with a market cap near $3.97 trillion.

Asian stocks edge higher; Japan bucks the trend

Tracking positive cues from Wall Street, equity markets across the Asia-Pacific region traded mostly higher on Thursday, except Japan. The Nikkei 225 index slipped 0.5% as investor sentiment remained cautious ahead of a scheduled Japanese government bond auction.

Despite lingering concerns over Trump’s fresh push for reciprocal tariffs, the regional markets saw broad-based buying as attention shifted towards upcoming corporate earnings and the U.S. Federal Reserve’s rate cut outlook.

South Korea’s Kospi led regional gains with a rise of over 1%, followed by Indonesia’s Jakarta Composite, which advanced 0.8%. Other notable gainers included the Hang Seng, Shanghai Composite, and Singapore’s Straits Times, rising between 0.15% and 0.4%. Meanwhile, Taiwan’s Weighted Index rose 0.4%, and Australia’s ASX 200 climbed nearly 0.8% in the final hour of trade.

Stocks to watch

Q1 results: Tata Consultancy Services, Tata Elxsi, Indian Renewable Energy Development Agency (IREDA), Anand Rathi Wealth, Eimco Elecon (India), GTPL Hathway, International Travel House, Netlink Solutions India, Oswal Pumps, and Silverline Technologies are set to release their June quarter results today.

IT stocks: Shares of IT companies will be in focus as sector bellwether Tata Consultancy Services (TCS), the country’s most valued IT firm, is set to release its June quarter earnings report.

Embassy Office Parks REIT: APAC Company XXIII Ltd is looking to sell a 1.9% holding in the company via block deals, with the deal size estimated at ₹681 crore.

Indosolar: Promoter Waaree Energies plans to offload up to 10 lakh shares, or a 2.4% stake, in Indosolar via an offer for sale on July 10 and July 11.

RailTel Corporation of India: The PSU company has bagged a work order worth ₹17.5 crore from the General Administration Department (GAD), Chhattisgarh.

Bharti Airtel: The telecom major has incorporated its step-down wholly-owned subsidiary named Airtel Money.

Muthoot Capital Services: The board of the financial services company has given the nod for the allotment of 12,500 NCDs worth around ₹125 crore.

ACC: The Adani group company has commissioned a brownfield grinding unit project at its Sindri plant in Jharkhand with a capacity of 1.5 million tonnes per annum (MTPA).

Akzo Nobel India: Asian Paints has exited the company by selling its entire 20.1 lakh shares (4.42% stake) at ₹3,651 per share, valued at ₹734 crore.

Enviro Infra Engineers: The firm’s joint venture with AltoraPro Infrastructure has secured an order worth ₹395.5 crore from the Maharashtra Industrial Development Corporation.

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