Markets on edge as 4th weekly loss sets cautious tone
On Friday, the markets ended lower for the second straight session, with both benchmark indices -- the Sensex and Nifty -- posting steep losses.
The Sensex fell 786 points intra-day to 81,397.69, while the Nifty slipped nearly 1 per cent to touch 24,806.35. The broader market also witnessed selling, with mid-cap and small-cap indices dropping up to 2 per cent.
Looking ahead, global developments will also be crucial. The US Federal Reserve will hold its policy meeting on July 29–30.
Most traders expect the Fed to keep interest rates unchanged, but any comments on inflation or future policy moves will be closely watched by markets worldwide. On the trade front, the Ministry of External Affairs said India and the US are working on the first phase of a Bilateral Trade Agreement to improve market access and reduce tariff barriers.
Back home, earnings from key companies such as IndusInd Bank, Tata Steel, ITC, Sun Pharma, and Maruti Suzuki India are expected next week. Their performance will give investors more clarity on sectoral strength and overall corporate health, as per the experts.
As the new month begins, investors will also keep an eye on economic indicators. The Industrial Production (IIP) data and HSBC Manufacturing PMI, both due on August 1, could provide fresh cues on the health of the Indian economy.
According to experts, the market is likely to remain volatile next week, with investors watching for cues from global central banks, earnings reports, and domestic economic data.
Meanwhile, in the previous week , the benchmarks ended the week lower -- marking the fourth consecutive weekly loss. The Nifty closed at 24,837.00, while the Sensex settled at 81,463.09.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
16 minutes ago
- Indian Express
‘No formal talks on F-35 jets yet': India clarifies after Trump tariff announcement
The Indian government on Friday clarified that there have been no formal discussions yet on the potential sale of F-35 fighter jets to India, despite a reference in the India-US joint statement earlier this year. In a written response to a question in the Lok Sabha, Minister of State for External Affairs Kirti Vardhan Singh said: 'The US will undertake a review of its policy on releasing fifth-generation fighters (such as the F-35) and undersea systems to India. No formal discussions have been held as yet on this issue.' This statement comes in the backdrop of PM Narendra Modi's February visit to US, during which the two sides elevated defence and strategic cooperation, but without finalising key hardware acquisitions like the F-35. The Ministry of External Affairs (MEA) was also asked whether any proposal had been made by the US regarding the F-35, and about the role of American diplomats in reducing tensions between India and Pakistan in the aftermath of the April 22 Pahalgam terror attack. Singh noted that diplomatic conversations were held with various countries, including the US, between April 22 and May 10. 'All our interlocutors were given a common message that India's approach was focused, measured and non-escalatory,' Singh said. He added that on May 9, India had conveyed its position clearly to US Vice President J D Vance. 'With specific reference to the United States, it was conveyed to Vice President J D Vance on May 9 that India would appropriately respond if Pakistan launched a major attack.' Singh clarified that the decision to cease military action was taken bilaterally between India and Pakistan. 'The discussion to cease military action took place directly between India and Pakistan through the existing channels of communication between the two-armed forces, and it was initiated at Pakistan's request.' Responding to a question on third-party mediation, Singh reiterated New Delhi's long-standing policy: 'As regards any proposal for third-party mediation, our longstanding position remains that any outstanding issue with Pakistan will be discussed only bilaterally. This has been made clear to all nations, including by the Prime Minister to the US President.' He emphasised that the India-US Comprehensive Global Strategic Partnership is underpinned by mutual trust and respect for sovereignty: 'The India-US Comprehensive Global Strategic Partnership is anchored in mutual trust, shared interests, goodwill and robust engagement between our citizens. The partnership has also benefited from growing strategic convergence and cooperation.' Singh also reaffirmed that India remains committed to strategic autonomy despite deepening ties with Washington. 'The Government of India closely evaluates all its external partnerships, including those in the defence and strategic domains, through the prism of India's national interest and commitment to strategic autonomy.'
Time of India
26 minutes ago
- Time of India
Gold price prediction: Experts predict latest gold rate projections for August first week
Gold rates rose almost 2 per cent, hitting a one-week high, on Friday. Spot gold reached its highest level since July 25, adding 1.8 per cent to $3,350.67 per ounce, after rising as much as 2 per cent earlier today. Bullion was up 0.4 per cent so far this week. U.S. gold futures rose 1.6 per cent to $3,403. This came after weaker-than-expected U.S. payrolls data boosted Federal Reserve rate cut expectations and fresh tariff announcements spurred safe-haven demand. U.S. job growth slowed more than expected in July, with nonfarm payrolls increasing by 73,000 jobs last month, after rising by a downwardly revised 14,000 in June, the Labor Department's Bureau of Labor Statistics said. Explore courses from Top Institutes in Please select course: Select a Course Category Technology PGDM Data Science Finance Leadership Degree MBA Management healthcare Product Management Project Management Public Policy MCA Others Cybersecurity Healthcare Design Thinking Data Analytics others CXO Data Science Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details Gold Rate Predictions by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo Payrolls numbers came in at below expectations, but a little higher than the market was printing. So, this gives a better probability that the Federal Reserve will cut (rates) later in the year, said Bart Melek, head of commodity strategies at TD Securities. Gold, a non-yielding asset, tends to perform well in a low-interest-rate environment. Market participants are now anticipating two rate cuts by year-end, beginning in September. Live Events Earlier this week, the U.S. central bank left interest rates unchanged in 4.25 per cent-4.50 per cent range, with Fed Chair Jerome Powell saying it's too soon to say whether the central bank will cut its interest rate target in September. "We've got a situation where we have inflationary pressures continuing from tariffs and wages, yet job numbers are disappointing. So in that situation, if the Fed cuts (rates), that's going to have material impact on gold in a positive way," Melek added. On the trade front, Trump's latest wave of tariffs on exports from dozens of trading partners, including Canada, Brazil, India and Taiwan, sent global markets tumbling as countries pushed for talks to clinch better deals. Safe-haven gold thrives during economic and geopolitical turmoil. Spot silver was up 0.5 per cent to $36.94 per ounce, platinum added 1.1 per cent to $1,303.43 and palladium gained 1.2 per cent at $1,205.58. FAQs Q1. What are silver, platinum, palladium prices? A1. Spot silver was up 0.5 per cent to $36.94 per ounce, platinum added 1.1 per cent to $1,303.43 and palladium gained 1.2 per cent at $1,205.58. Q2. What do we know about Donald Trump tariffs? A2. On the trade front, Donald Trump's latest wave of tariffs on exports from dozens of trading partners, including Canada, Brazil, India and Taiwan, sent global markets tumbling as countries pushed for talks to clinch better deals. Safe-haven gold thrives during economic and geopolitical turmoil.
Time of India
an hour ago
- Time of India
No formal discussions held yet: Govt on US F-35 jets query in LS
The joint statement following the meeting of Prime Minister Narendra Modi with President Donald Trump in February mentions that the US will undertake a "review" of its policy on releasing fifth-generation fighter jets such as the F-35 and undersea systems to India and "no formal discussions" have been held as yet on this issue, the government said on Friday. The Ministry of External Affairs (MEA) was asked whether any "official proposal" was received from the US regarding the potential sale of F-35 fighter jets to India following the announcement by the US President in February. Explore courses from Top Institutes in Please select course: Select a Course Category MCA Management Data Science Healthcare Public Policy Project Management MBA CXO Digital Marketing Data Science Others Design Thinking Technology Artificial Intelligence others Product Management Finance Degree Data Analytics PGDM Leadership healthcare Operations Management Cybersecurity Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details Minister of State for External Affairs Kirti Vardhan Singh in a written response to the query told Lok Sabha that the India-US joint statement following the Modi-Trump meeting on February 13 "mentions that the US will undertake a review of its policy on releasing fifth generation fighters (such as the F-35) and undersea systems to India. No formal discussions have been held as yet on this issue." The MEA was also asked about the role of American diplomats to stop hostilities between India and Pakistan; and whether the government has reviewed the relationship between US military assistance proposals and autonomy in terms of India's foreign policy in view of the strategic implication especially in a conflict scenario involving third-party mediation. Singh in his response said, between April 22, when the Pahalgam terrorist attack happened and May 10, there were "a number of diplomatic conversations" with various countries at different levels, including with the US. Live Events "All our interlocutors were given a common message that India's approach was focused, measured and non-escalatory," he said. "With specific reference to the United States, it was conveyed to Vice President J D Vance on May 9 that India would appropriately respond if Pakistan launched a major attack. The discussion to cease military action took place directly between India and Pakistan through the existing channels of communication between the two-armed forces, and it was initiated at Pakistan's request," Singh added. As regards any proposal for third party mediation, our longstanding position remains that any outstanding issue with Pakistan will be discussed "only bilaterally". This has been made clear to all nations, including by the Prime Minister to the US President, the minister said. "The India-US Comprehensive Global Strategic Partnership is anchored in mutual trust, shared interests, goodwill and robust engagement between our citizens. The partnership has also benefited from growing strategic convergence and cooperation," he added. "The Government of India closely evaluates all its external partnerships, including those in the defence and strategic domains, through the prism of India's national interest and commitment to strategic autonomy ," Singh said. PTI
