Indian stock market: 8 key things that changed overnight - Gift Nifty, Trump tariffs to China's economic data
Asian markets continues to trade mix on Tuesday, meanwhile, US stock indices S&P 500 and the Nasdaq Composite - closed marginally up, as investors remained cautious, avoiding major moves in response to U.S. President Donald Trump's renewed tariff threats, while also staying steady ahead of a week filled with key economic data and the kickoff of earnings season.
On Monday, benchmark indices Sensex and Nifty extended their losing streak for the fourth consecutive session on Monday, pressured by selling in IT stocks and continued foreign fund outflows.
The BSE Sensex fell 247.01 points, or 0.30 per cent, to close at 82,253.46. It had declined as much as 490.09 points, or 0.59%, during the session before recovering part of the losses by the end. Meanwhile, the NSE Nifty slipped 67.55 points, or 0.27 per cent, to finish at 25,082.30.
'Markets started the week on a volatile note and extended their recent decline, ending nearly half a percent lower. After an initial dip, the Nifty attempted to stabilize in early trade, but sustained pressure from heavyweight stocks dragged the index down as the session progressed. A rebound after retesting the 25,000 mark helped trim some of the losses, and the index eventually settled at 25,082 level, down 0.27%,' said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Asian markets showed a mixed trend on Tuesday, July 15, as investors appeared to look past the ongoing uncertainty over U.S. President Donald Trump's shifting tariff policies and instead turned their attention to forthcoming economic data from China.
Japan's Nikkei 225 stayed mostly flat, while the Topix index inched up by 0.32 per cent. South Korea's Kospi declined 0.31 per cent, but the Kosdaq index edged up 0.26 per cent. In Australia, the S&P/ASX 200 rose by 0.66 per cent.
Gift Nifty was trading around 25,148 level, a discount of nearly 25.5 points from the Nifty futures' previous close, indicating a negative start for the Indian stock market indices.
Wall Street stocks closed marginally higher on Monday as investors stayed cautious amid new tariff warnings from U.S. President Donald Trump.
The Dow Jones Industrial Average gained 88.14 points, or 0.20%, to settle at 44,459.65. The S&P 500 rose by 8.81 points, or 0.14%, ending the session at 6,268.56, while the Nasdaq Composite advanced 54.80 points, or 0.27%, closing at 20,640.33.
On Monday, President Donald Trump warned that he would impose "secondary tariffs" of around 100% on countries trading with Russia if President Vladimir Putin fails to reach a deal to end the invasion of Ukraine within 50 days.
'We're very, very unhappy with them, and we're going to be doing very severe tariffs, if you don't have a deal in 50 days, tariffs at about 100%, they call them secondary tariffs,' Trump said from the White House while meeting with NATO's secretary general, Mark Rutte.
China is set to release second-quarter GDP figures likely indicating that China's economy grew slightly above the government's full-year target of 5%, reducing the urgency for further immediate stimulus measures.
Meanwhile, China closed the first half of the year with a record trade surplus of approximately $586 billion, as exports to the U.S. showed signs of stabilizing and Chinese factories adapted to the ongoing tariff-related disruptions in global trade.
GM Breweries, HDFC Life, Just Dial, Geojit Financial, HDB Financial, ICICI Lombard, and Bank of Maharashtra are among at least 21 companies scheduled to release their earnings report on Tuesday, July 15.
Gold prices slipped slightly after touching a three-week high earlier on Monday, as investors kept a close watch on trade negotiations and upcoming U.S. economic indicators. Meanwhile, silver surged to its highest level since September 2011.
As of 1:44 p.m. EDT (5:44 p.m. GMT), spot gold had dipped 0.1% to $3,350.97 per ounce, following an earlier peak not seen since June 23.
Oil prices dipped slightly on Tuesday as markets absorbed U.S. President Donald Trump's 50-day ultimatum for Russia to end the Ukraine conflict or face sanctions targeting its oil buyers.
At the same time, concerns over Trump's trade tariffs persisted. Brent crude futures slipped by 5 cents to $69.16 per barrel, while U.S. West Texas Intermediate crude dropped 9 cents to $66.89.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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