Stock Market Updates: Sensex Starts On A Flat Note, Nifty Below 25,000; Axis Bank Dips 2%
The benchmark indices, Sensex and Nifty, are likely to see movement today, driven by multiple factors, including the release of Q1 earnings
Sensex Today: The benchmark indices, Sensex and Nifty, are likely to see movement today, driven by multiple factors, including the release of Q1 earnings, India's June infrastructure output data, institutional investment flows, and mixed global cues. At 7:49 AM, GIFT Nifty futures were trading 20 points lower at 25,012, indicating a flat to mildly negative start for the Indian bourses.
Global Cues
Global markets presented a mixed picture in early Monday trade. Asia-Pacific equities were uneven as investors evaluated policy signals from China and kept an eye on renewed global trade tensions. The People's Bank of China maintained its key loan prime rates unchanged, with the one-year LPR holding steady at 3 per cent and the five-year LPR—used for mortgage pricing—unchanged at 3.50 per cent, in line with expectations aimed at supporting economic growth.
Trade worries resurfaced over the weekend after the White House reiterated its firm stance on tariffs. US Commerce Secretary Howard Lutnick stated on Sunday that August 1 is a 'hard deadline" for countries to begin complying with new tariff requirements. However, he added that 'nothing stops countries from talking to us after August 1."
US equity futures were marginally lower during early Asian hours as traders digested the weekend's trade rhetoric and awaited key tech earnings this week. S&P 500 futures rose 0.06 per cent, Nasdaq 100 futures inched up 0.08 per cent, and Dow Jones Industrial Average futures added 24 points or 0.05 per cent.
Wall Street ended Friday on a subdued note. The Dow Jones Industrial Average fell 0.32 per cent to close at 44,342.19. The S&P 500 dipped slightly by 0.01 per cent to 6,296.79, while the Nasdaq Composite managed to edge higher by 0.05 per cent, finishing at 20,895.66.
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