The BSE Sensex rose 225 points, or 0.27%, to 83,635, while the Nifty50 gained 48 points, or 0.19%, to trade at 25,500 around 9:17 am.
The U.S. will place a 20% tariff on many Vietnamese exports, President Donald Trump said on Wednesday, announcing a deal just days ahead of a July 9 deadline before he ramps up tariffs on most imports.
Meanwhile, US and Indian trade negotiators continued talks to finalise a tariff-reducing agreement, though key differences over dairy and agricultural products remained unresolved, Reuters reported, citing sources.
From the Sensex pack, Asian Paints, Eternal, Infosys, Tata Steel, Power Grid, and ICICI Bank opened with gains, rising up to 1.7%. On the other hand, Kotak Mahindra Bank, Bajaj Finance, BEL, and Trent traded in the red.
Among sectors, Nifty Auto, IT, and Metal were the top gainers, rising between 0.3% and 0.7%. In contrast, PSU Bank, Realty, and Financial Services opened lower.Meanwhile, Nykaa shares fell 4.5% in early trade after the company saw 6 crore shares, about 2.3% equity, change hands in a block deal, according to ETNow.Experts View
“Nifty is likely to trade in the 25200-25800 range for some more time till a trigger breaks the range. A positive trigger can come from a possible India-US trade deal to be announced in a few days. The US-Vietnam trade deal indicates the eagerness of the US administration to strike as many trade deals as possible since deals with EU and Japan appear unlikely soon,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
“Some recent data from the US indicate negative news on the jobs front. This can trigger more capital outflows from the US and further weakening of the dollar, which has already depreciated by more than 10% this year. This is good news for EMs like India. But the challenge is the tepid earnings growth in India and indications of only modest earnings growth in FY26,” Vijayakumar added.
Devarsh Vakil, Head of Prime Research, HDFC Securities, said, “Previous swing highs of 25,317 and 25,222 could now act as immediate support levels. On the higher side, the band of 25,640-25,740 would continue to serve as a substantial hurdle for the Nifty, indicating resistance for any upward moves. The weekly futures contract for the Nifty will expire today, which is expected to lead to increased volatility.”
Global Markets
Asian shares edged higher on Thursday as investors braced for a key U.S. jobs report that may justify imminent rate cuts by the Federal Reserve and waited on the passage of a massive U.S. tax and spending bill in Congress.
Wall Street climbed overnight to close at new record highs after President Donald Trump announced that the U.S. has struck a trade deal with Vietnam, including a 20% tariff on exports to the U.S. That fuelled hopes that more deals will be forthcoming, with negotiations underway for a trade agreement with India.
The MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.2% to hover just below a near four-year top. Japan’s Nikkei was flat.
China’s blue chips edged up 0.2%, while Hong Kong’s Hang Seng index fell 0.6% after data showed China’s services activity expanded at the slowest pace in nine months in June.
FII/DII Tracker
Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 1,561 crore, whereas Domestic Institutional Investors (DIIs) were strong buyers, investing Rs 3,036 crore on July 2.
Crude Oil
Oil prices eased on Thursday, reversing gains from the previous session, on concerns over weak U.S. demand after government data showed a surprise build in inventories in the world’s biggest crude consumer.
Brent crude futures fell 24 cents, or 0.35%, to $68.87 a barrel by 0044 GMT after gaining 3% on Wednesday. U.S. West Texas Intermediate crude fell 24 cents, or 0.36%, to $67.21 a barrel after climbing 3.1% previously.
Rupee vs Dollar
The Indian rupee fell 7 paise to 85.69 against the US dollar in early trade. The dollar index, which tracks the movement of the greenback against a basket of six major world currencies, surged 0.06% to 96.83 level.
(With inputs from agencies)
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