Gift Nifty Today: How Indian Market Likely to Open on July 17?

Indian equity benchmarks, Sensex and Nifty 50, are expected to begin Thursday’s session on a subdued note, tracking mixed cues from global markets.

Asian markets were mostly in the red in early trade, reflecting the cautious sentiment after a choppy session on Wall Street. Meanwhile, the US markets closed with modest gains, with the Nasdaq notching its fifth record high in six sessions.

Back home, Indian indices ended marginally higher on Wednesday. The Nifty 50 held firm above the 25,200 mark, while the Sensex posted a modest uptick.

The Sensex rose by 63.57 points, or 0.08%, to close at 82,634.48. The Nifty 50 added 16.25 points, or 0.06%, to settle at 25,212.05.

Gift Nifty Today

The Gift Nifty was quoting around 25,265, indicating a marginally positive opening for the Indian indices. This suggests a flat-to-positive bias as trading begins.

Asian Markets

Asian equities were mostly lower amid mixed global cues. Japan’s Nikkei 225 dipped 0.3%, while the broader Topix index slipped 0.11%. South Korea’s Kospi dropped 0.98%, with the Kosdaq trading flat. However, futures on Hong Kong’s Hang Seng pointed to a stronger start.

Wall Street

US markets closed higher despite intra-day volatility, largely driven by speculation over the tenure of Federal Reserve Chair Jerome Powell.

• Dow Jones rose 231.49 points (0.53%) to 44,254.78
• S&P 500 gained 19.94 points (0.32%) to 6,263.70
• Nasdaq Composite advanced 52.69 points (0.26%) to close at 20,730.49

US Industrial Production

US manufacturing activity edged higher in June, with factory output rising 0.1% following an upwardly revised 0.3% gain in May. On a year-on-year basis, production grew 0.8%. For Q2, industrial output expanded at a 2.1% annualised rate, down from 3.7% in Q1.

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Japan Trade Data

Japan’s exports declined for the second consecutive month in June, falling 0.5% year-on-year, contrary to expectations of a modest increase. Imports, however, grew 0.2%, defying projections of a decline. This led to a trade surplus of ¥153.1 billion ($1.03 billion), well below the forecast of ¥353.9 billion.

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