The Indian stock market opened on a cautious note Wednesday, with benchmark indices slipping in early trade amid global uncertainty. The Sensex opened at 83,652.46, down 60.05 points or 0.07%, while the Nifty began the day at 25,506.85, falling 15.65 points or 0.06%.
The Nifty Bank also saw weakness, starting the session at 57,143, down 0.20%.
“The US-India trade deal is still awaited, while Trump has threatened 10% tariffs on BRICS nations and warned of 100% tariffs if they back a currency rival to the US dollar, drawing a sharp response from Brazil’s Lula. With FOMC minutes (9 July) and TCS earnings (10 July) ahead, expect heightened volatility. Nifty support is at 25,221; strength only above 25,670,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Let’s take a look at the key factors to watch out for in today’s session-
Market movers: Gainers and losers
In early trade, the top gainers from the Sensex pack include Asian Paints, PowerGrid, BEL, Maruti among other stocks. Meanwhile, key laggards dragging the indices down were Sun Pharma, Infosys, Tata Motors, Axis Bank, Kotak Mahindra Bank.
Trump’s tariff threat keeps traders on edge
Investors are closely monitoring global developments, especially trade-related tensions triggered by U.S. President Donald Trump’s recent announcements. Trump has warned of a 10% tariff on all BRICS nations, including India, and hinted at a 100% duty.
Asia trades mixed
Asian markets opened mixed this morning. Japan’s Nikkei rose 0.33%, while South Korea’s Kospi traded flat and the Kosdaq added 0.29%. In contrast, Australia’s ASX 200 fell by 0.26%. Market participants across the region remain cautious ahead of the August 1 tariff deadline reiterated by Trump.
Broader view: All eyes on Q1 earnings
“More important from the market perspective in the near-term will be the Q1 results. Midcaps are likely to continue with the earnings growth momentum of Q4 FY25. Largecaps are likely to slowly improve earnings growth, but nothing dramatic is on the cards. Banking names will report better numbers in H2 FY26 rather than Q1. Cement segment is showing some green shoots,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Technical outlook
“Technically, the market has formed a reversal pattern on both the daily and intraday charts, which supports further upside from the current levels. For the bulls, the key levels to watch are 25,550 and 83,500. Above these levels, the market could continue its positive momentum towards 25,670–25,800/84,000–84,400. On the downside, if the market breaks below 25,400/83,300, the sentiment could change. A decline below these levels could retest 25,300/83,000. Weakness may continue further if it trades below 25300, which may possibly drag the market towards 25,200–25,175 / 82,700–82,600,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.