Opening bell: GIFT Nifty indicates gap-down opening for Sensex, Nifty; MTNL, Dixon Tech, HDB Financial, HDFC Life, ITC Hotels, Tech Mahindra shares in focus

The Indian benchmark indices, the BSE Sensex and the NSE Nifty, are set to open lower on Wednesday, following mixed global cues amid ongoing uncertainty surrounding U.S. trade negotiations and subdued corporate earnings. The Asian markets were trading mostly in the red, mirroring the cautious sentiment on Wall Street, as mixed U.S. inflation data prompted traders to scale back expectations of interest rate cuts by the Federal Reserve.

At 8:10 AM, the GIFT Nifty futures were trading 91 points lower at 25,174, indicating a weak start for the Indian benchmark indices.

On Tuesday, the Indian equity markets ended higher, ending a four-session losing streak, as investor sentiment improved on the back of positive global cues, cooling retail inflation, and steady foreign institutional inflows. The benchmark BSE Sensex ended 317 points, or 0.39%, higher at 82,570.91, and the NSE Nifty50 ended at 25,195.8, up by 113.5 points, or 0.45%. In the broader markets, both the Nifty MidCap and Nifty SmallCap indices rose around 0.95% each.

The foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) were net buyers of Indian equities on July 15, according to provisional data from the NSE. FPIs were net purchasers of equities worth ₹120 crore, buying shares worth ₹11,553 crore, while selling shares worth ₹11,433 crore. DIIs were significantly more active, with net buying of ₹1,555 crore as they purchased equities worth ₹13,711 crore and sold shares amounting to ₹12,156 crore.

US stocks end mixed on inflation jitters; Nvidia drives Nasdaq to a fresh record

The U.S. markets closed mixed on Tuesday as June inflation rose marginally, though economists warn of potential price pressures ahead due to U.S. President Donald Trump’s tariff policies. The key consumer inflation print showed CPI accelerated in June to 2.7%, up from 2.4% in May, which was in line with Street expectations.

The Dow Jones Industrial Average fell 0.98%, while the S&P 500 slipped 0.4%. In contrast, the Nasdaq Composite rose 0.18% to hit a fresh record high, driven by a rally in index heavyweight Nvidia, which surged over 4% following reports that the U.S. government has approved the resumption of exports of the company’s H20 AI chips to China.

Asian stocks slide on reduced hope for U.S. interest rate cuts

Equity markets in the Asia-Pacific region came under pressure on Wednesday as expectations for near-term interest rate cuts by the U.S. Federal Reserve weakened, following a rise in inflation. The mood was further spoilt due to uncertainty around global trade policies and the outlook for corporate earnings.

Japan’s Nikkei 225 was down 0.1%, South Korea’s Kospi fell 0.65%, and China’s Shanghai Composite slid nearly 0.15% in opening trade. On the other hand, Hong Kong’s Hang Seng, Singapore’s Straits Times, and Taiwan’s Weighted Index were trading higher in the range of 0.2% to 0.7%. Meanwhile, Australia’s ASX 200 was down nearly 0.9% in the final hour of trade.

Stocks to watch

Q1 results today: Among key companies scheduled to announce their quarterly results today are Tech Mahindra, ITC Hotels, L&T Technology Services, Reliance Industrial Infrastructure, Angel One, DB Corp, Le Travenues Technology, Kalpataru, and Lotus Chocolate Company.

Pharma stocks: Shares of pharmaceutical companies will be in focus today after U.S. President Donald Trump signaled that tariffs on pharma imports could be imposed by the end of the month.

Mahanagar Telephone Nigam Limited (MTNL) : The government-owned telecom operator has officially announced a significant default on the repayment of principal and interest on loans totaling ₹8,585 crore as of June 30, 2025.

HDFC Life Insurance Company: The company reported a 14.4% year-on-year rise in its net profit to ₹546 crore compared to ₹478 crore in the corresponding quarter last year.

HDB Financial Services: The newly listed company posted a mixed quarter, with net profit declining 2.4% YoY to ₹568 crore, while net interest income rose by 18.3% to ₹2,092 crore.

ICICI Lombard General Insurance : The company logged a net profit of ₹747 crore in Q1FY26, surging 28.7% compared to ₹580 crore in the previous year.

Just Dial : The Reliance Industries-backed company reported a 13% year-on-year increase in net profit for Q1, reaching ₹159.6 crore compared to ₹141.2 crore in the corresponding period last year.

Dixon Technologies : The company has signed a binding term sheet to acquire a 51% stake in Q Tech India to collaborate in manufacturing camera and fingerprint modules for smartphones, IoT, and automotive segments.

Kotak Mahindra Bank : Phani Shankar, President & Chief Credit Officer, has resigned; his exit is effective July 21.

Zydus Lifesciences : The drug maker has received final US FDA approval for Celecoxib capsules (50 mg to 400 mg), used to treat pain and inflammation.

Biocon Biologics: The biopharma company has received US FDA approval for KIRSTY (Insulin Aspart-xjhz), the first interchangeable biosimilar to NovoLog, for glycemic control in diabetes patients.

Bajaj Finserv : IRDAI has approved transfer of Allianz SE's 26% stake in Bajaj Allianz Life & General Insurance to Bajaj Finserv, Bajaj Holdings, and Jamnalal Sons.

Jindal Steel & Power : The company’s CFO Mayank Gupta has resigned effective July 15, citing personal reasons.

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