India equity benchmarks set to track Asian peers higher after US-Japan deal
The uncertainty over India-U.S. interim trade deal ahead of President Donald Trump's August 1 deadline could limit gains in the Indian market.
The Gift Nifty futures were trading at 25,164 points as of 8:08 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open above Tuesday's close of 25,060.9.
Japanese shares led the rally in Asian equities on Wednesday following the trade deal announcement. MSCI's broadest index for Asia-Pacific stocks outside Japan (.MIAPJ0000PUS), opens new tab also advanced 0.7%.
In another positive development, U.S. and Chinese officials will meet in Stockholm next week to discuss an extension to the August 12 deadline for negotiating a trade deal, Treasury Secretary Scott Bessent said.
Easing global trade tensions is a positive for equities as it can reduce the uncertainty about global growth and inflation, which has kept the U.S. Federal Reserve from cutting interest rates.
Meanwhile, the prospects of an interim trade deal between India and the U.S. before Washington's August 1 deadline have dimmed, with talks deadlocked over tariff cuts on key agricultural and dairy products, Reuters reported, citing two Indian government sources.
In the absence of a trade deal, analysts expect market to remain stock-specific amid earnings season. Infosys (INFY.NS), opens new tab, Dr Reddy's Laboratories (REDY.NS), opens new tab and Tata Consumer Products (TACN.NS), opens new tab are the Nifty 50 companies scheduled to release their earnings on Wednesday.
** Fintech firm Paytm (PAYT.NS), opens new tab swings to a profit in June quarter, driven by robust growth in its lending business and tight cost controls, and said it expects a further improvement in earnings
** Dixon Technologies (DIXO.NS), opens new tab posts higher revenue and profit for the first quarter on the back of strong growth in mobile and other electronic manufacturing services
** Jana Small Finance Bank (JANA.NS), opens new tab posts lower profit due to a drop in net interest income, while gross non-performing assets rose during the quarter
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
2 minutes ago
- Reuters
Bangladesh orders 25 Boeing planes as part of push to ease US tariffs
DHAKA, July 27 (Reuters) - Bangladesh has ordered 25 aircraft from Boeing (BA.N), opens new tab and ramped up imports of key American goods in an effort to defuse trade tensions and bring down the steep tariffs imposed by the Trump administration, a senior official said on Sunday. The moves are part of a broader strategy to narrow a $6 billion U.S. trade deficit with Bangladesh and avoid a looming 35% tariff hike that has rattled the country's export sector, especially the garments industry which risks losing competitiveness in one of its largest markets. "We need new aircraft urgently, possibly within the next couple of years," Commerce Secretary Mahbubur Rahman told reporters. "Initially, it was 14 planes — now it's 25," he said, referring to an earlier plan to purchase aircraft from the U.S.-based manufacturer. Alongside the aircraft deal, Bangladesh is boosting imports of wheat, soybean oil and cotton from the United States. A new agreement signed earlier this month will see the country import 700,000 tonnes of U.S. wheat annually over the next five years. Officials hope that these steps will help improve trade relations with Washington and soften the impact of the Trump administration's tariff measures.
Daily Mail
2 minutes ago
- Daily Mail
Tottenham captain Son Heung-min to join a Major Soccer League team this summer is 8/15 with Sky Bet
Tottenham legend Son Heung-min is attracting a wealth of interest from teams in Saudi Arabia and the USA this summer, having most recently emerged a shock target for Major Soccer League outfit Los Angeles FC. The South Korean, who has now entered the final year of his Spurs deal, is being linked with a move away from north London this summer following the arrival of new manager Thomas Frank from Brentford. As part of Sky Bet's transfer specials market, Son is now favoured to join an MLS club by September 2, which carries odds of 8/15. A move to the Saudi Pro League is deemed the next most likely destination with the bookies, garnering odds of 4/5. Meanwhile, a reunion with former Tottenham manager Jose Mourinho at Fenerbahce could be on the cards, with Sky Bet giving that scenario odds of 7/2. Bayer Leverkusen, Manchester United and Liverpool round out the top six, with odds of 7/2, 12/1 and 18/1 respectively. Sky Bet Special: Son Heung-min to sign for before September 2, 2025 Any MLS club - 8/15 Any Saudi Pro League club - 4/5 Fenerbahce - 7/2 Bayer Leverkusen - 7/2 Man United - 12/1 Liverpool - 18/1
Reuters
2 minutes ago
- Reuters
Trump says US, EU have 'good chance' of reaching trade deal
TURNBERRY, Scotland, July 27 (Reuters) - U.S. President Donald Trump on Sunday said there is a good chance that the United States and European Union would reach a trade agreement, citing three or four main sticking points. Trump made the comment at the start of a meeting with European Commission President Ursula von der Leyen at his golf property in Turnberry, on Scotland's western coast. Trump said the main sticking point was "fairness," citing barriers to U.S. exports of cars and agriculture.
