Sensex, Nifty likely to open on a subdued note; trade deal, earnings in focus

The equity benchmarks are set for a muted open on Tuesday amid caution over a delay in an interim trade deal with the US, sustained foreign outflows and weak earnings.

The Gift Nifty futures were trading at 24,665 points as of 7:49 a.m. IST, indicating that the Nifty 50 will open near Monday’s close of 24,680.9, the lowest closing level since June 4.

The benchmark Nifty and Sensex have both fallen in the last three sessions, losing over 2 per cent each during the period.

Foreign portfolio investors sold shares worth ₹6,081 crore ($700.92 million) on Monday, as per provisional data, marking their biggest selling in India since May 30.

Investors are worried about the repercussions of a delay in the trade deal with the US ahead of US President Donald Trump’s August 1 deadline.

Negotiations between India and the US remained deadlocked over tariff cuts on agriculture and dairy products, Reuters reported last week,citing two government sources.

Trump said on Monday most trading partners that do not negotiate separate deals would soon face tariffs of 15 per cent to 20 per cent on their exports to the US, well above the broad 10 per cent tariff he imposed in April.

Meanwhile, domestic earnings season has been mixed, with lenders Kotak Mahindra Bank and Axis Bank, and top information technology companies posting weaker-than-expected numbers.

STOCKS TO WATCH

** IndusInd Bank swings back to profit in the first quarter after its biggest-ever loss in the previous three months, but its asset quality worsened

** JK Paper reports eighth straight quarter of a decline in profit and says it will acquire a 72% stake in private peer Borkar Packaging for 2.35 billion rupee

** Renewable energy power generator NTPC Green Energy and Solar module maker Waaree Energies both posted higher quarterly revenue and profits

($1 = 86.7570 Indian rupees)

Published on July 29, 2025