GIFT Nifty hints at soft opening; eyes on Fed minutes

GIFT Nifty:

GIFT Nifty July 2025 futures were trading 10.50 points lower in early trade, suggesting a negative opening for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 26.12 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,366.82 crore in the Indian equity market on 8 July 2025, provisional data showed.

According to NSDL data, FPIs have sold shares worth Rs 2087.16 crore in the secondary market during July 2025. This follows their purchase of shares worth Rs 8466.77 crore in June 2024.

Global Markets:

US Dow Jones futures slipped 33 points, hinting at a tepid start for Wall Street on Wednesday.

Asian markets traded mixed after US President Donald Trump ruled out any extension to the looming August 1 tariff deadline. On Tuesday, he also announced a steep 50% duty on copper imports and signaled that more sector-specific tariffs could follow soon.

In a bold move, Trump threatened to slap tariffs of up to 200% on pharmaceutical exports to the US. However, he added a grace period of about a year, year and a half before the measure kicks in.

Meanwhile, fresh economic data from China painted a mixed picture. The country's producer price index tumbled 3.6% in June from a year earlier, the sharpest drop in nearly two years. On the flip side, the consumer price index inched up just 0.1% year-on-year.

Back in the US, Wall Street remained jittery over escalating trade tensions. The Dow fell 0.37%, the S&P 500 slipped 0.07%, and the NASDAQ managed a slim gain of 0.03%.

All eyes now turn to the Federal Reserve, with the minutes from its June policy meeting set to be released later today. Investors will be scanning the details for clues on the Fed's next move on interest rates.

Domestic Market:

Equity benchmarks closed higher on Tuesday, buoyed by a late rally in banking and financial services stocks, with the Nifty ending above the 25,500 level. However, gains were capped by weakness in consumer durables, pharma, and healthcare shares. Overall sentiment remained cautious amid global uncertainty triggered by U.S. President Donald Trump's announcement of fresh import tariffs on key trade partners. The S&P BSE Sensex added 270.01 points or 0.32% to 83,712.51. The Nifty 50 index rose 61.20 points or 0.24% to 25,522.50.

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