Gift Nifty Trade Lower: Indian Markets Set for Flat Start on July 18

Domestic equity benchmarks Sensex and Nifty 50 are likely to open flat with a slightly positive bias. Positive momentum from global markets, especially Wall Street’s overnight performance, is expected to provide early support.

Gift Nifty Points to Steady Start

Early trading in Gift Nifty suggests a muted start for the Indian indices. Gift Nifty was quoting around the 25,183 level, reflecting a modest fall of 0.12% over the previous close of Nifty futures.

Asian Market Snapshot

Asian equities saw a mixed start, mirroring the strong lead from U.S. markets. Japan’s Nikkei 225 edged up 0.03%, while the broader Topix index remained unchanged. South Korea’s Kospi slipped 0.14%, but the Kosdaq gained 0.17%. Hong Kong’s Hang Seng futures signalled a stronger opening, reflecting a positive risk sentiment across the region.

Global Market Overview

Wall Street Hits Record Highs

U.S. stock indices ended Thursday’s session on a strong note, with both the S&P 500 and Nasdaq Composite closing at fresh record highs. The rally was fueled by robust economic data and upbeat earnings results. The Dow Jones Industrial Average climbed 229.71 points (0.52%) to settle at 44,484.49. The S&P 500 rose 33.66 points (0.54%) to 6,297.36, while the Nasdaq Composite advanced 153.78 points (0.74%) to close at 20,884.27.

US Retail Sales Rebound

June retail sales in the U.S. saw a stronger-than-expected recovery, increasing 0.6% after a 0.9% decline in May. Year-on-year, sales were up 3.9%, reflecting resilient consumer demand despite inflation concerns. Economists had anticipated only a 0.1% rise for June.

Fed Rate Cut in Focus

Adding to investor optimism, Federal Reserve Governor Christopher Waller reiterated support for a rate cut at the end of the month. He emphasised that the current inflationary pressures—partly driven by tariffs—are unlikely to persist, reinforcing the case for monetary easing.

Also Read: UPI Tax Shock: These States Are Also Sending ₹40 Lakh Tax Notices to Local Traders

Domestic Market Recap

Back home, the Indian equity market ended Thursday’s session on a subdued note amid profit-booking in heavyweight stocks. The benchmark Sensex dropped 375.24 points (0.45%) to close at 82,259.24, while the Nifty 50 fell 100.60 points (0.40%) to end at 25,111.45, slipping below the 25,200 level.

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