Global markets are setting the tone for Indian stocks as we head into the trading session. With a mix of gains and losses across Asia and key updates from global markets, investors are watching closely. Crude prices, FII flows, and other macro indicators could influence the day’s direction.
The GIFT Nifty is currently indicating a flat start with negative bias, trading at 25,510.
In the previous trading session on July 7, Indian equity benchmarks closed on a flat note, with the Sensex inching up 9.61 points to end at 83,442.50, and the Nifty settling just 0.30 points higher at 25,461.30.
Key global and domestic cues to know on July 08, 2025
Asian Markets
Asian markets opened mostly higher despite rising global trade tensions, after U.S. President Donald Trump announced steep tariffs on 14 countries, including key partners Japan and South Korea. Japan’s Nikkei 225 rose by 0.36% in early trading, with the broader Topix index also gaining 0.31%. South Korea’s Kospi advanced 0.44%, and the Kosdaq added 0.19%. However, Australia’s S&P/ASX 200 bucked the regional trend, slipping 0.44% in early trade.
Trump announced 25% tariffs on Japan, South Korea; warns more nations
US President Donald Trump has announced a new wave of 25% tariffs on imports from Japan and South Korea, set to take effect from August 1, 2025. In letters shared publicly on Truth Social, Trump stated that trade ties with both nations were “far from reciprocal” and cited ongoing trade deficits as justification. He warned that any retaliation from these countries through higher tariffs would trigger an additional hike from the US side, directly impacting key sectors like automobiles and electronics. Similar letters were later shared with other countries including Myanmar, Laos, Thailand, South Africa, Indonesia, Malaysia, and Kazakhstan.
15 nations targeted; Room left for negotiation
The announcement follows Trump’s earlier statement that he would send up to 15 tariff letters to major trading partners. According to his message, these measures are part of efforts to reset trade terms unless countries reach new agreements before the August deadline. However, the letters also hint at a possible rollback if partner nations revise their trade barriers. Trump noted that the US may “consider an adjustment” if countries eliminate tariff and non-tariff trade restrictions.
US markets
U.S. markets saw a sharp decline o July 7, with major indices closing in the red. The Dow Jones Industrial Average dropped 422.17 points, or 0.94%, to finish at 44,406.36. The S&P 500 slipped 0.79% to end at 6,229.98, while the Nasdaq Composite lost 0.92%, closing at 20,412.52.
US futures
U.S. stock futures slipped during Asian trading hours after tariffs announced by President Trump triggered a sharp sell-off on Wall Street, marking the worst day for major indices since mid-June. At the time of writing, Dow Jones futures were down 0.14%, trading at 44,342.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading flat at 97.34 on Tuesday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee appreciated 0.54% to close at 85.86 to the dollar on July 07.
Crude oil
Crude oil prices remained under pressure on Tuesday morning, extending their decline from previous sessions. West Texas Intermediate (WTI) crude was trading at $67.72, down 0.30%, while Brent crude slipped 0.30% to $69.33.
FII, DII data
Investor activity remained positive on July 7 as both foreign and domestic institutional investors picked up shares. According to provisional data from the NSE, foreign institutional investors (FIIs) made net purchases worth Rs 321 crore. Domestic institutional investors (DIIs) showed even stronger buying interest, with net purchases totalling Rs 1,853 crore.
Gold rate today
Gold prices slipped slightly in early Tuesday’s trade. As per Goodreturns, today, 10 grams of 24-carat gold rate today is Rs 98,280, while 22-carat gold costs Rs 90,090. For those preferring 18-carat gold, the price is Rs 73,710 for the same weight.
Top sectors in Monday’s trade
Sectors such as leather, personal care, and non-alcoholic beverages saw gains in the July 7 trading session, with the leather segment leading the pack, rising 3.09%. Personal care stocks followed closely with a 2.91% uptick, while the non-alcoholic beverages and food processing sectors registered gains of 1.72% and 1.47% respectively.
Best and worst performing business groups
In group-wise market action, the Jaypee Group stood out with a sharp gain of 18.77% in market cap, leading the pack of gainers. It was followed by the Godrej Group, which rose 2.87%, and the Emami Group, up 2.29%. Other notable gainers included the Future Group with a 1.81% rise and the Ambani Group, which edged up 0.9%.
On the flip side, Bhartia Group declined by 2.1%, Garware Group slipped 2.62%, while Nagarjuna Group and Manipal Group wGlobal markets are setting the tone for Indian stocks as we head into the trading session. With a mix of gains and losses across Asia and key updates from global markets, investors are watching closely. Crude prices, FII flows, and other macro indicators could influence the day’s direction.