Global Market Cues

Overnight, US markets closed mixed. The Dow Jones Industrial Average outperformed, gaining 0.91% to close at 44,494.94. In contrast, the S&P 500 edged down 0.11% to finish at 6,198.01, and the Nasdaq Composite lost 0.82%, settling at 20,202.89, primarily due to waning enthusiasm for tech stocks. US Federal Reserve Chair Jerome Powell's remarks on potential rate cuts and the impact of US President Donald Trump's tariff policies are influencing sentiment. Gold prices surged over 1% on Tuesday as investors sought safe-haven assets following the US Senate's passage of a sweeping tax-cut and spending package. Crude oil prices held steady as markets await signals from the upcoming OPEC+ meeting, with a production increase for August widely anticipated.

Asian markets are mostly trading lower on Wednesday. Japan's Nikkei slipped 0.9% and the broader Topix index fell 0.24%, while South Korea's Kospi shed 0.456%. Hong Kong's Hang Seng index futures, however, indicated a higher opening. Australia's ASX 200 bucked the regional trend, rising 0.42%.

GIFT Nifty and Domestic Cues

GIFT Nifty futures were trading around 25,690, approximately 47 points higher at 6:35 AM IST, indicating a positive to flat start for the Indian bourses. As of July 2, 2025, 7:54 AM, GIFT Nifty was at 25678, down 3.5 points (-0.01%).

On the domestic front, foreign institutional investors (FIIs) net sold shares worth ₹1,970.03 crore on July 1, while domestic institutional investors (DIIs) net bought shares worth ₹725.60 crore. India's industrial output growth fell to a nine-month low of 1.2% in May 2025, dragged down by weak performance in the manufacturing, mining, and electricity sectors. India's gross collection of Goods and Services Tax (GST) hit an all-time high of ₹22.08 lakh crore in the financial year 2024-25, marking a 9.4% year-on-year growth. The fiscal deficit for the first two months of FY26 stood at ₹13,163 crore, or just 0.8% of the full-year target.

Key Stocks in Focus

• JSW Energy, Maruti Suzuki, Lupin, and Zen Technologies: These stocks may see activity due to overnight news flow.
• Hero MotoCorp, Hyundai Motor, SBI Cards, Raymond Realty: These stocks are also expected to be in focus due to recent developments and company-specific updates.
• Ambuja Cements, Apollo Hospitals, Torrent Pharma, DLF: These stocks attracted key brokerage attention on Tuesday.

Key Events to Watch Today

• US Federal Reserve Chair Jerome Powell's remarks: Investors will continue to monitor any further statements from Powell regarding interest rates and economic outlook.
• US Tariff Deadline (July 9): The upcoming US tariff deadline on July 9 continues to be a point of caution for investors.
• OPEC+ Meeting: The outcome of the OPEC+ meeting and any announcements regarding production increases for August will be closely watched.
• Crizac IPO: The Crizac IPO (Mainline) will open for subscription today.

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

Tags: Pre-Market Stock Market Nifty Sensex Market Update