Trade Setup: Global Cues Mixed as Markets Await Key Earnings

Introduction

Global markets are showing mixed signals as traders prepare for a crucial earnings season. With major indices hovering near record highs, investors are keenly watching for signs of continued economic strength and corporate performance.

GIFT Nifty Update

GIFT Nifty futures traded at 25,275.00, down 0.03% from the previous close, indicating a flat to slightly negative start for the domestic markets.

US Markets

Wall Street ended mixed in the overnight session. The Dow Jones Industrial Average gained 0.53% to close at 44,275.79, while the tech-heavy Nasdaq Composite slipped 0.22% to 20,955.50.

Asian Markets

Asian markets are trading mixed in early hours. Japan's Nikkei 225 is down 0.29% at 39,549.19, while Hong Kong's Hang Seng Index is up 0.10% at 24,541.26.

Commodity Trends

Crude oil prices edged higher, with WTI crude trading at $66.71 per barrel, up 0.50%. Gold futures dipped 0.40% to $3,345.70 per ounce. Silver futures were marginally lower at $38.11 per ounce.

Currency Updates

The USD/INR pair was trading at 85.89, down 0.07% from its previous close.

FII/DII Activity

Foreign Institutional Investors (FIIs) were net sellers in the cash market on July 16, offloading shares worth ₹1,858.15 crore. Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth ₹1,223.55 crore.

Key Global Events

Investors will be closely watching a slew of quarterly results scheduled for release today, including those from tech giant Wipro , Axis Bank , and HDFC AMC . These earnings reports could provide crucial insights into the health of various sectors and potentially drive market sentiment.

Conclusion

Markets are poised for a cautious start as investors balance global cues with the anticipation of key corporate earnings. The mixed signals from global markets and the upcoming results will likely keep traders on their toes throughout the session.