- Indian markets expected to open muted amid global gains and lower crude prices
- Asian markets mostly up, led by Japan's Nikkei and South Korea's Kospi gains
- US PPI steady in July with no significant change; Trump announces 100% tariffs on drone imports soon
The Indian stock market is expected to open on a muted note on Friday, amid gains in global markets and lower crude oil prices. The trends on Gift Nifty also signal a tepid start for the Indian benchmark indices, Nifty 50 and Sensex, today.
The Gift Nifty was trading around 24,440 level, a discount of nearly 25 points from the Nifty futures' previous close.
In the previous session, the domestic equity benchmark indices ended mixed, with the Nifty 50 closing near 24,400 level.
The Sensex rose 113.61 points or 0.15%, to close at 78,079.96, while the Nifty 50 settled 40.10 points, or 0.16%, higher at 24,395.85.
“Nifty is expected to trade sideways with a marginal negative bias amid escalating geopolitical tensions in West Asia and higher crude prices. With the Q1FY27 earnings season nearing its end, investors are expected to shift their focus towards macro indicators and global developments going forward,” said Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
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Here are five key factors that may drive the Indian stock market today.
Asian Markets
Asian markets traded higher on Friday, following overnight gains on Wall Street, led by technology stocks. Japan's Nikkei 225 rose 1.87% while the Topix gained 0.98%. South Korea's Kospi jumped 2.36%, while the Kosdaq fell 0.89%. Hong Kong's Hang Seng index futures indicated a lower opening.
Wall Street
US stock market ended higher on Thursday, with the S&P 500 posting record closing high, as the Federal Reserve rate hike bets eased after tame producer price inflation data.
The Dow Jones Industrial Average rose 0.13% to 53,839.99, while the S&P 500 gained 0.65% to end the session at 7,798.99 points. The Nasdaq closed 0.81% higher at 26,803.03.
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US Producer Prices
US producer prices were unchanged in July. The flat reading in the Producer Price Index (PPI) for final demand last month followed a revised 0.1% drop in June. In the 12 months through July, the PPI increased 4.7% after advancing 5.5% in June.
Trump Tariffs
US President Donald Trump announced tariffs of up to 100% on imports of unmanned drones and their components. The tariffs will take effect in 21 days, the White House said.
In another development, the US Court of International Trade ruled in favor of Trump's 2025 decision to rescind a “de minimis” exemption for tariffs on some imports of less than $800, Reuters reported.
Crude Oil Prices
Crude oil prices extended fall, after over 2% decline in the previous session, weighed down by weaker global demand outlook and a sharp build in US crude inventories.
Brent futures fell 0.08% to $ 87.00 a barrel, after slipping 2.15% overnight. US West Texas Intermediate (WTI) crude eased 0.06% to $81.20 a barrel. It closed down 2.4% in the previous session.
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