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Indian stock markets are poised for a cautious start on Tuesday, July 15, following signs of easing inflation at home and mixed signals from global markets. GIFT Nifty futures were trading 19 points higher at 25,186 around 7:30 AM, indicating a flat to mildly positive opening for benchmark indices Sensex and Nifty.
The domestic macroeconomic backdrop turned notably more favourable on Monday, as India’s retail inflation for June dropped sharply to 2.1 per cent from 2.82 per cent in May. This marks the lowest Consumer Price Index (CPI) print since January 2019, largely due to a rare fall in food and beverage prices and a favourable base effect. Supporting the disinflation narrative further, wholesale inflation also slipped into negative territory for the first time in 20 months. Wholesale Price Index (WPI)-based inflation contracted by 0.13 per cent in June, compared to a rise of 0.39 per cent in the previous month.
Despite the positive macro cues, global factors may keep investors on edge. Asian markets opened higher, buoyed by slightly better-than-expected economic data from China. China’s GDP grew 5.2 per cent year-on-year in the second quarter—above economists’ projections of 5.1 per cent but lower than the 5.4 per cent growth recorded in Q1. However, signs of a slowdown in consumer demand were evident, with June retail sales rising just 4.8 per cent, well below May’s 6.4 per cent gain and below forecasts. Industrial output, on the other hand, grew 6.8 per cent, beating estimates and offering some support to sentiment.
In early trade, the Nikkei was up 0.4 per cent, Kospi gained 0.29 per cent, and Australia’s ASX 200 climbed 0.6 per cent. Investors largely shrugged off renewed tariff threats from US President Donald Trump, who has warned of new sanctions on countries buying Russian oil and signalled military backing for Ukraine unless a peace deal is reached within 50 days.
Wall Street closed higher on Monday, with the Dow Jones Industrial Average rising 0.20 per cent, the S&P 500 up 0.14 per cent, and the Nasdaq Composite adding 0.27 per cent. Futures were little changed in early Asian trade as investors braced for June inflation data and a busy earnings week in the US.
Back home, all eyes will be on the earnings season as several high-profile companies are set to report their April–June quarter results. Among them are HCLTech, Tata Technologies, Rallis India, HDFC Life, ICICI Lombard General Insurance, and ICICI Prudential Life. Results from Bank of Maharashtra, Himadri Speciality Chemical, and Network 18 Media are also scheduled for release during the day.
On the institutional front, foreign investors remained net sellers, offloading equities worth Rs 1,629.40 crore on July 14. In contrast, domestic institutional investors continued their support with net purchases of Rs 1,821.12 crore, helping offset some of the FII-led pressure.
The primary market will also stay in focus. Glen Industries is set to list on the SME platform today. Meanwhile, subscriptions continue for the Anthem Biosciences and Spunweb Nonwoven IPOs, and allotment status is awaited for Smartworks Coworking’s mainboard issue.
In commodities, gold prices eased slightly after touching a three-week high, with spot gold slipping 0.3 per cent to USD 3,344.76 per ounce. Silver prices, however, surged to their highest level since September 2011. Oil prices fell as geopolitical tensions escalated, with Brent crude declining 1.63 per cent to USD 69.21 a barrel and WTI crude shedding 2.15 per cent to settle at USD 66.98.
As the session gets underway, market sentiment will likely be guided by a combination of factors—ranging from easing inflation and strong DII flows to global growth concerns and US policy uncertainty. While domestic cues offer some tailwinds, investors are expected to remain selective ahead of key US data and corporate earnings through the week.
English (US) ·