Indian equity indices opened Monday’s trading session on a flat note. The NSE Nifty 50 opened below 25,000, while the BSE Sensex opened with a positive bias above 81,800.
However, Bank Nifty opened 225 points higher at 56,508 on the back of the healthy quarterly performance of large banking stocks.
On the other side, the small and midcap stocks opened with a correction. The Nifty Midcap fell 165 points to 58,938.
“The single most important factor that the market will be focusing on in the coming days will be the outcome of the trade talks between the US and India. If an interim trade deal between the two countries is reached with a tariff rate of less than 20 % on India, that would be positive from the market perspective,” said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
Weekend Q1 results were good with ICICI Bank reporting the best numbers, particularly in PAT and credit growth. HDFC Bank also reported a steady set of numbers. In the banking results, so far, Axis Bank’s numbers are the most disappointing. Flow of institutional funds from some banks to ICICI Bank is a possibility, going forward, said Vijayakumar. RIL’s Q1 numbers are steady with Jio and retail, posting good results.
Apart from that, Anthem Biosciences hit the bourses with a strong listing in a muted market. The stock was listed at a premium of 26.8% on the National Stock Exchange at Rs 723.05.
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 HDFC Bank, ICICI Bank, Hindalco, Tata Steel, and UltraTech Cement, among other stocks. On the flip side, the key laggards in the Nifty 50 pack included IndusInd Bank, Reliance Industries, Axis Bank, Wipro, and Titan.
Major movers on Monday
The stocks that remained under pressure included Reliance Industries, Infosys, Axis Bank, Mahindra & Mahindra, and ITC, which were the major movers in the morning trade.
Trump tariff buzz
Global investors are watching closely as the US edges toward an August 1 deadline that could bring new tariffs on European goods. Reports say President Trump is pushing for a minimum 15-20% tax on all EU imports and wants to keep a 25% duty on European cars, even though the EU offered to scrap its own 10% car tax if the US lowers its tariffs. Since a 10% base duty is already in place, the ongoing tension is making markets nervous.