Stock Market Updates: GIFT Nifty Signals A Muted Start For Sensex, Nifty; HCL Tech In Focus
Benchmark indices Sensex and Nifty are expected to be impacted on the first trading day of the week by multiple factors
Sensex Today: Benchmark indices Sensex and Nifty are likely to open under pressure on the first trading day of the week, weighed by a host of global and domestic factors. Key triggers include India's June inflation data (both WPI and CPI), HCL Technologies' Q1 earnings, fresh trade tensions sparked by the US, China's June trade numbers, institutional flows, primary market activity, and overall weak global cues.
India's consumer price index (CPI)-based inflation is expected to have declined further in June, staying below the Reserve Bank of India's 4 per cent target for the fifth consecutive month. Economists cite easing prices, especially in the food segment, along with a favourable base effect, as the main reasons. Retail inflation hit a 75-month low of 2.82 per cent in May, down from 5.08 per cent a year ago in June 2024.
Global Cues
Global markets started the week on a cautious note, largely reacting to a fresh wave of trade concerns. Over the weekend, US President Donald Trump announced a 30 per cent tariff on imports from the European Union and Mexico, effective August 1. The declaration, made via his platform Truth Social, has raised fears of a renewed trade war. While both the EU and Mexican leadership signaled willingness to negotiate, uncertainty looms over potential outcomes.
There was a bright spot from Singapore, where GDP grew 4.3 per cent year-on-year in the second quarter, up from 3.9 per cent in Q1 and above the 3.5 per cent forecast. Quarter-on-quarter, the economy expanded by 1.4 per cent, bouncing back from a 0.5 per cent contraction—signaling economic resilience.
In Asia, markets traded mixed. Japan's Nikkei was down 0.39 per cent, and the broader Topix slipped 0.34 per cent. Australia's ASX 200 dipped 0.14 per cent, while South Korea's Kospi defied the trend, rising 0.53 per cent.
US futures were also in the red during Asian hours. Dow Jones futures fell 0.63 per cent, S&P 500 futures dropped 0.33 per cent, and Nasdaq 100 futures were down 0.22 per cent.
Wall Street had closed lower on Friday. The Dow Jones lost 279.13 points (0.63%) to settle at 44,371.51. The S&P 500 declined 0.33 per cent to 6,259.75, and the Nasdaq Composite shed 0.22 per cent to finish at 20,585.53—capping a downbeat week for US equities.
view comments
First Published:
July 14, 2025, 09:14 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NDTV
35 minutes ago
- NDTV
American Firms Flag Hit From US Export Controls Targeting China: Report
More than a third of US companies surveyed by a US-China business group reported "negative effects" from Washington's export control policies, said a report released Wednesday, while flaring tensions and tariffs are chief among concerns. The survey, conducted between March and May, came as President Donald Trump unveiled tariffs on allies and competitors alike, with especially steep rates on Chinese products. This has fueled uncertainty as companies try to adjust supply chains, such as by diversifying away from China or deepening localization. "While 82 percent of companies reported profits in 2024, fewer than half are optimistic about the future, reflecting concerns over tariffs, deflation, and policy uncertainty," said the US-China Business Council (USCBC) in its 2025 member survey. About 40 percent of firms surveyed reported "negative effects from US export control policies," the report said, noting the rise in this proportion signals export curbs are impacting firms beyond the semiconductor industry. Companies cited issues such as lost sales to international or Chinese competitors, severed customer ties and reputational damage in China "due to the intensifying perception that US firms are unreliable suppliers," the report said. The USCBC warned of Chinese tech firms' growing capabilities eroding the competitiveness of US businesses over time. But despite challenges, "the ability to operate in China's fiercely competitive market remains non-negotiable for American companies," USCBC President Sean Stein said. Nearly all firms said they cannot remain globally competitive without their China operations. Meanwhile, companies continue to report declining market share as Beijing's industrial policies boost domestic firms, the survey said. "32 percent of companies reported losing market share in China over the last three years, while nearly 70 percent are concerned about losing market share in the next five years," the council said. The USCBC represents some 270 American companies that do business with China. This year's survey involved a pool of 130 member firms.
News18
an hour ago
- News18
ITR Filing 2025: 6 Key Reporting Changes In ITR -2 Form That Taxpayers Must Know
Last Updated: ITR Filing FY2025-26: The tax department linked the changes in the utilities forms for FY2024-25 as a major reason for the delay in the release of these utilities. ITR Filing FY2025-26: The income tax department has released the Excel-based utilities for ITR forms 2 and 3 after a delay, allowing eligible taxpayers to complete their tax duties before the deadline. The utilities for forms 1 and 4 were already released a month and a half ago. With this, all major utilities from forms 1, 2, 3 and 4 are now working on the income tax portal. The income tax department has already extended the deadline for tax filing for FY2024-25 (assessment year FY2025-26) to September 15, 2025 from July 31, 2025. The tax department linked the changes in the utilities forms for FY2024-25 as a major reason for the delay in the release of these utilities, leading to the extension of the deadline for this filing year. There are some major changes in ITR-2 form, which is applicable for those who earn a salary or have non-business or professional income as well as those with crypto, capital gains and other types of income. Let's see what are these six changes in the reporting process for the ITR-2 form. CA Suresh Surana explains to the Economic Times the six prominent changes in reporting mechanism in ITR-2 excel utility. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
an hour ago
- Mint
Wall Street ends higher after brief slump on Powell firing confusion
Markets recover after brief selloff on Powell firing reports Bank stocks mixed after Q2 earnings U.S June PPI unchanged on a monthly basis (Updates to the close, adds analyst comment) July 16 (Reuters) - Wall Street benchmarks ended modestly higher on Wednesday, with the Nasdaq Composite posting its latest record finish, despite a chaotic half hour when news reports suggested U.S. President Donald Trump was set to fire Federal Reserve Chair Jerome Powell. Shortly before midday, the main U.S. stock indexes fell sharply, the dollar plunged and Treasury yields rose after Bloomberg News reported the possibility of replacing Powell, citing an unidentified White House official. Separately, Reuters News reported, citing a source, that Trump was open to the idea of firing Powell. Trump was quick to deny the reports, even as he unleashed a new barrage of criticism against Powell for not cutting interest rates. "The Fed's independence is hugely important to our overall economy, so you saw the market react when that initial headline came out," said Dylan Bell, chief investment officer at CalBay Investments. Trump's denial revived equity markets after the benchmark S&P 500 fell as much as 1% and the Nasdaq dropped as much as 1.1%. According to preliminary data, the S&P 500 gained 19.65 points, or 0.31%, to end at 6,263.41 points, while the Nasdaq Composite gained 51.82 points, or 0.25%, to 20,729.62. The Dow Jones Industrial Average rose 220.61 points, or 0.50%, to 44,243.90. It was the fifth session in six that the technology-heavy Nasdaq index has posted a record close. Since Trump's April tariff announcement, which initially sent U.S. equities into a spin, U.S. stock markets have been on a tear. The S&P 500 most recently posted a record finish last week. Amid this buoyancy though has been investor angst about the prospect of Powell being removed from his job before his term ends next May, as Trump has repeatedly criticized him for not cutting U.S. rates quickly enough. The CBOE Volatility Index, Wall Street's "fear gauge," hit a more than three-week high in the wake of the initial Powell reports, but eased from those levels. Despite Trump's demands for easier credit, Fed officials have resisted cutting rates until there is clarity on whether his tariffs on U.S. trading partners reignite inflation. The chance of a rate cut in September was viewed around 56% earlier in the day, according to CME FedWatch. Before the Bloomberg report, the session was choppy as investors were on edge after a mixed bag of inflation data muddied the economic outlook. Producer prices flatlined in June, as tariff-driven goods costs were balanced out by weaker service prices. Just a day earlier, unexpectedly strong consumer inflation had already dented hopes for deeper Fed rate cuts, with Trump's tariffs partly fueling the uptick in prices. On Wednesday, the second day of this earnings season, another round of stronger profits from Wall Street's big banks failed to ignite their own stock prices. Goldman Sachs inched higher after notching a 22% earnings surge. Both Bank of America and Morgan Stanley joined the trend of higher profits fueled by trading desks navigating market turbulence in the second quarter. Their shares both declined though. Johnson & Johnson soared, and was one of the best performers on the S&P 500, after halving its expectations for costs this year related to new tariffs and raising its full-year sales and profit forecast. Semiconductor stocks were sluggish after news that Nvidia would be allowed to sell its H2O chips in China had fueled gains in the previous session. The semiconductor index slipped from the 12-month high recorded on Tuesday. (Reporting by Sruthi Shankar, Pranav Kashyap and Nikhil Sharma in Bengaluru and David French and Suzanne McGee in New York; additional reporting by Medha Singh; Editing by Saumyadeb Chakrabarty, Maju Samuel and Richard Chang)
