Indian equities are set for a muted open on Thursday as global investors digest the latest developments in the US-China trade standoff. At 8:00 AM, GIFT Nifty futures were trading 19 points higher at 25,231, suggesting a flattish start for benchmark indices.
In a fresh escalation, the US will impose a 55% tariff on Chinese imports, while China has announced a 10% levy on American goods. The retaliatory measures have raised concerns over global trade flows, weighing on investor sentiment.
Asia-Pacific markets were mixed in early trade. Japan’s Nikkei 225 dropped 0.72%, while South Korea’s Kospi edged up 0.34%. Australia’s ASX 200 gained 0.25%, but Hong Kong’s Hang Seng declined 0.80%, and China’s CSI 300 slipped 0.23%.
On Wall Street, US indices closed lower by up to 0.5% after inflation data showed consumer prices rose just 0.1% in May, below expectations.
Back home, investors will track the release of India’s CPI inflation data for May later today, along with the weekly expiry of Nifty’s F&O contracts.
Brent crude surged 4.3% to $69.77/barrel and WTI jumped 4.9% to $68.15 amid heightened US-Iran tensions. The spike could weigh on oil-sensitive sectors like paints, tyres, adhesives, and airlines. However, upstream oil players such as ONGC, Oil India, Hindustan Oil Exploration, and Reliance Industries may benefit from the price uptick.
The NSE, MCX, and IEX have received SEBI’s nod to launch one-month electricity futures, marking a key regulatory milestone in energy trading.
Hindustan Copper announced a five-year expansion plan worth ₹2,000 crore to ramp up mining capacity from 4 MTPA to 12.2 MTPA by FY31.
Zydus received an Establishment Inspection Report (EIR) from the USFDA for its Ankleshwar API facility, with a ‘No Action Indicated’ (NAI) status.
Sterlite Technologies, along with Dilip Buildcon, secured a ₹2,631 crore BSNL order to implement the middle-mile BharatNet project in J&K and Ladakh.
NTPC has raised $750 million through an External Commercial Borrowing (ECB) route to finance its ongoing expansion plans.
Nazara’s Committee of Independent Directors termed the open offer by Axana Estates, Plutus Wealth, and Junomoneta Finsol as “fair and reasonable.”
The private sector lender has approved raising up to ₹500 crore through a Qualified Institutional Placement (QIP) to bolster capital buffers.
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