Indian equity markets opened nearly flat on Monday as global uncertainties and expectations surrounding an interim trade deal between India and the United States influenced investor sentiment.
As of 9:20 AM, the BSE Sensex slipped by 50 points, or 0.05%, to 81,714, while the NSE Nifty was down 17 points, or 0.07%, at 24,951.
Broader market indices reflected a similar mood. The Nifty Midcap 100 index declined by 87 points (0.15%) to 59,017, while the Nifty Smallcap 100 fell by 65 points (0.36%) to 18,892.
Analysts noted that the dominant market factor in the days ahead will be the potential announcement of an India–US interim trade agreement.
Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, remarked, “If an interim trade deal between the two countries is finalised with a tariff cap below 20% on Indian exports, the market is likely to react positively.”
For now, however, investors appear to be treading cautiously amid ongoing negotiations and global economic uncertainties.
On the sectoral front, selling pressure was visible in auto, IT, PSU banks, pharma, FMCG, media, energy, infrastructure, consumption, and PSE sectors.
However, financial services, metals, and real estate indices traded in positive territory, showing some resilience.
Winners and Losers on Sensex
Among the Sensex constituents, Axis Bank, Reliance, Infosys, HCL Tech, Tech Mahindra, TCS, Sun Pharma, Titan, Mahindra & Mahindra, HUL, Asian Paints, NTPC, Tata Motors, and BEL registered losses.
Meanwhile, Tata Steel, HDFC Bank, ICICI Bank, UltraTech Cement, Bajaj Finance, Eternal, and Trent posted moderate gains.
Asian markets traded mixed. Shanghai, Hong Kong, Seoul, Bangkok, and Jakarta opened in the green, while Tokyo remained in the red.
On Wall Street, the Dow Jones closed down by 0.32%, while the Nasdaq ended marginally up by 0.05%.
On the institutional front, foreign institutional investors (FIIs) turned net buyers on July 18, recording purchases worth ₹374.74 crore. Domestic institutional investors (DIIs) continued their buying streak for the tenth straight session, investing ₹2,103.51 crore.
Given the ongoing global volatility and lack of clear directional cues, market experts recommend a conservative trading approach.
Mandar Bhojane of Choice Equity Broking advised, “Traders should stick to a sell-on-rise strategy while exercising caution, especially when using leverage.”
As the Indian market awaits further developments on the trade front, short-term movement is expected to remain range-bound with a tilt towards defensive sectors.
Also Read: Indian Economy Set To Grow 6.5% In FY26 Despite Global Headwinds: EAC-PM
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