Indian equity indices opened Friday’s trading session on a lower note as the Trump tariffs deadline ends on August 01. The NSE Nifty 50 opened 56 points lower at 24,712. The BSE Sensex opened 166 points lower at 81,000.
Similarly, Bank Nifty opened 82 points or 0.15% lower at 55,880. In line with the benchmarks, the small and midcap stocks also started on a negative note. The Nifty Midcap fell 13 points to 57,390.
“GIFT Nifty signals a weak start as bearish pressure mounts with Nifty facing stiff resistance at 25,000. Key drags include Trump’s tariff hike, hawkish Fed signals, soft Q1 earnings, FII selling, and a deteriorating technical setup. On Wall Street, Microsoft hit a $4 trillion market cap, joining Nvidia, even as indices slipped,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
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, Eicher Motors, Maruti Suzuki, Nestle India, and Tata Consumer Products. On the flip side, the key laggards in the Nifty 50 pack included Sun Pharma, Dr. Reddy’s Laboratories, Mahindra & Mahindra, Infosys, and ONGC.
Major movers on Friday
The stocks that remained under pressure included Sun Pharmaceuticals, Infosys, ICICI Bank, Mahindra & Mahindra, and Larsen & Toubro, which were the major movers in the morning trade.
Global markets
Asia-Pacific markets fell on Friday after the US President Donald Trump modified “reciprocal” tariff rates on several countries, ranging from 10% to 41%. The US benchmarks closed Thursday night as traders digested the latest Big Tech earnings and awaited July’s jobs report.
All eyes on Q4 earnings
Investors are closely tracking a string of quarterly results scheduled for today. Major names like Adani Power, ITC, Tata Power Company, LIC Housing Finance, UPL, Delhivery, Godrej Properties, GlaxoSmithKline Pharmaceuticals, Graphite India, JK Lakshmi Cement, G R Infraprojects, Jupiter Life Line Hospitals, Narayana Hrudayalaya, Multi Commodity Exchange of India, Symphony, and Tube Investments of India will announce their quarterly earnings scorecard on August 01.