Indian equity indices opened Monday’s trading session on a muted note amid reports of the US-India trade deal and a fallout of the SEBI report on Jane Street manipulating Indian equity markets. The NSE Nifty 50 opened near 25,450, while the BSE Sensex was muted at 83,400.
In line with the overall markets, Bank Nifty was flat at 57,013. Similarly, the small and midcap traded cautiously; the Nifty Midcap 100 opened subdued at 59,680.
“Concerns surrounding a US-India trade deal and the fallout of SEBI’s report on Jane Street will be influencing market movements today. There are reports of a possible interim trade deal between the US and India before the July 9th tariff deadline. If that happens, that would be a positive,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
“The volume of derivative trading is likely to take a hit, impacting stock exchanges and some brokerages. This has implications for their stock prices, too,” added Vijayakumar.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50 top gainers at this hour were Hindustan Unilever, Asian Paints, Reliance Industries, and Tata Consumer Products, among other stocks. On the flip side, the key laggards in the Nifty 50 pack included Bharat Electronics, Tech Mahindra, Tata Steel, Titan, and Hindalco.
Major movers on Monday
The stocks that remained under pressure included Reliance Industries, Hindustan Unilever, HDFC Bank, ITC, and Bharti Airtel, which were the major movers in the morning trade.
Likely India-US trade deal
The US has confirmed that tariffs announced earlier in April will officially come into force on August 1 for countries that have not reached trade agreements. President Donald Trump reaffirmed the move, while Treasury Secretary Scott Bessent said on Sunday that August 1 is not a new deadline, but rather gives countries more time to finalise deals.