Analysts expect the market to remain range bound in the near term amid global trade developments, improving earnings visibility and strong sectoral performance could support selective outperformance as the Q1 earnings season unfolds.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 2.50 points, or 0.01 per cent, at 25,513.50, signaling that Dalal Street was headed for muted start on Tuesday.Tech View: Over the past week, Nifty has entered a time-wise correction, lacking directional momentum and consolidating within a tight band. The range narrowed further, forming a classic Doji candle on the daily chart, a sign of market indecision.India VIX: India VIX, which is a measure of the fear in the markets, rose 2% to settle at 12.56 levels.
US stocks end lower
Wall Street’s major indexes closed sharply lower on Monday, after U.S. President Donald Trump announced hefty tariffs against Japan, South Korea and other trading partners while Tesla shares sank after CEO Elon Musk said he was forming a new U.S. political party.
Dow down 0.94%, S&P 500 dips 0.79%, Nasdaq falls 0.91%
Asian shares gain
Asian shares edged higher after President Donald Trump suggested that he was still open to additional negotiations after imposing new tariff rates on partners including Japan and South Korea.
S&P 500 futures fell 0.1% as of 9:14 a.m. Tokyo timeHang Seng futures were little changedJapan’s Topix rose 0.2%Australia’s S&P/ASX 200 fell 0.4%Euro Stoxx 50 futures rose 0.9%
Gold steady
Gold prices steadied on Tuesday as U.S. President Donald Trump announced sharply higher tariffs on goods from Japan, South Korea and other nations, while higher U.S. treasury yields capped gains.
Yen stumbles
The yen fell broadly on Tuesday while the dollar held steady as U.S. President Donald Trump unveiled 25% tariffs on goods from Japan and South Korea in the latest development of his chaotic trade war.
Oil eases
Oil prices eased on Tuesday after rising almost 2% in the previous session, as investors assessed new developments on U.S. tariffs and a higher-than-expected OPEC+ output hike for August.
Stocks in F&O ban today
RBL Bank
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
Rupee
The rupee logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday amid rising global crude oil prices and a strong American currency.