Global Market Cues

Overnight, global markets presented a mixed picture. In the United States, major indices ended Wednesday's session with a split performance. The S&P 500 advanced 0.5% to close at 6,227.42, and the Nasdaq Composite surged 0.9% to 20,393.13, both reaching new record highs, largely propelled by technology stocks and optimism surrounding a new US-Vietnam trade deal. Conversely, the Dow Jones Industrial Average edged down by less than 0.1% to 44,484.42. Sector rotation was evident, with investors shifting from growth-oriented technology stocks towards more cyclical sectors, and healthcare stocks showing strength. Investors are now keenly awaiting the crucial June jobs report scheduled for Thursday.

European markets closed higher across the board on Wednesday. The Euro Area's main stock market index, the EU50, rose 0.17% to 5291 points. European equities have demonstrated strong performance year-to-date, even outperforming their US counterparts.

In Asian markets this morning, the sentiment is mixed. Japan's Nikkei 225 and Topix indices were slightly down, while South Korea's Kospi registered gains. The Shanghai Composite index saw a slight decline on July 2. Regional investors are awaiting further clarity on the recently announced US-Vietnam trade agreement.

GIFT Nifty and Domestic Cues

The GIFT Nifty was trading higher in the early hours of Thursday, indicating a flat to mildly positive start for the Indian benchmark indices. It was observed trading around 25,556.5 to 25,567, a premium of 13 to 33 points from Nifty futures' previous close.

On Wednesday, the Indian benchmark equity indices, Nifty 50 and Sensex, closed lower. The Nifty 50 ended down 0.35% at 25,453.40, while the BSE Sensex declined 0.34% to 83,409.69. Foreign Portfolio Investors (FPIs) continued their selling streak for the second consecutive day, offloading shares worth ₹1,970.1 crore. However, Domestic Institutional Investors (DIIs) provided counter-support by being net buyers, acquiring equities worth ₹771.1 crore or ₹2,763.07 crore. Metals, pharma, and auto sectors saw gains, while financial services and realty sectors faced pressure, with HDFC Bank and Larsen & Toubro contributing to the market's decline.

Key Stocks in Focus

• HDFC Bank Ltd. and Larsen & Toubro Ltd.: These stocks were major drags on the Indian market in the previous session.
• Tata Steel Ltd., JSW Steel Ltd., and Asian Paints Ltd.: These were among the top gainers on Wednesday and could see continued interest.
• Nykaa, DMart, Hindustan Zinc, FSN E-Commerce Ventures Ltd., Avenue Supermarts Ltd., Baazar Style Retail Ltd., and Punjab National Bank: These stocks have been highlighted as being in focus for today's trading.
• Companies linked to the US-Vietnam trade deal: Stocks of companies that import heavily from Vietnam, such as Nike, could see movement.

Key Events to Watch Today

• Economic Data (India): The final HSBC Composite PMI and Services PMI data for June 2025 are scheduled for release.
• Economic Data (US): The highly anticipated US June jobs report, including Nonfarm Payrolls, Initial Jobless Claims, and Continuing Jobless Claims, will be released. Additionally, the US trade balance for May will be out.
• Economic Data (Europe & UK): S&P Global Composite PMI for Europe and UK PMI data are due.
• IPOs: Several Initial Public Offerings are set to open or continue today, including Indogulf Cropsciences (Mainline), Travel Food Services (Mainboard), White Force (SME), and Cryogenic OGS (SME).
• Geopolitical and Trade Developments: Investors will continue to monitor developments around President Donald Trump's 90-day tariff reprieve, which is approaching its July 9 deadline.

TAGS: Pre-Market, Stock Market, Nifty, Sensex, Market Update

Tags: Pre-Market Stock Market Nifty Sensex Market Update