Indian markets took a breather today. Sensex dropped 287 pts, and Nifty slipped below the 25,500 mark.
Financial stocks dragged the indices down, with HDFC Bank, Bajaj Finance, and Kotak Mahindra Bank leading the fall. The Nifty Financial Services index lost 1%.
But here’s what held up the sentiment, Metals! A global rally in steel futures powered a 1.4% rise in the Nifty Metal index, with Tata Steel jumping 3.7%.
Debut alert: HDB Financial Services listed at ₹835, that’s a 12.8% premium to its issue price.
Meanwhile, Trump hinted at a possible India–U.S. trade deal, which could dodge the 26% tariff threat, temporarily paused till July 9.
Experts say:
Caution is creeping in as we near Q1 earnings season and the tariff deadline.
On the global front:
Europe opened in the green
U.S. futures up
Oil inched up higher on Iran tension
Rupee dipped to 85.70/USD
What to watch next?
US jobs data & the Fed’s rate cut path — both could shake things up.
