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Indian equities are expected to open on a steady note Tuesday, backed by firm cues from GIFT Nifty futures, which were trading 34 points higher at 25,677 around 7:20 AM. Investors will track global commentary, primary market momentum, and institutional flows as benchmark indices Sensex and Nifty navigate a cautious global landscape.

Jerome Powell’s interest rate comments keep global markets cautious

Investor sentiment across Asia turned cautious after US Federal Reserve Chair Jerome Powell said the Fed might have already started cutting rates, had it not been for inflationary pressure from Trump-era tariffs. His remarks injected fresh uncertainty into rate cut timelines, weighing on early Asian trade.

Japan’s Nikkei 225 slipped nearly one per cent, and South Korea’s Kospi declined as well, while Australia’s ASX 200 rose modestly, bucking the regional trend. Meanwhile, US stock futures remained steady in early Asian hours after Wall Street posted a mixed close. The Dow Jones ended higher by 0.91 per cent, while the Nasdaq Composite fell 0.82 per cent and the S&P 500 dipped 0.11 per cent amid fading tech momentum.

FII and DII activity: Foreign investors sell, domestic inflows support Nifty and Sensex

Institutional flows remained divergent. On July 1, foreign institutional investors (FIIs) sold equities worth Rs 1,970.03 crore, maintaining their cautious stance. In contrast, domestic institutional investors (DIIs) emerged as buyers, pumping Rs 725.60 crore into the markets, lending some support to frontline stocks and key indices like the Nifty 50 and Sensex.

IPO market today: Crizac IPO opens, SME issues in focus

The primary market remains active with a series of IPOs lined up. Crizac’s mainboard IPO opens for subscription today, drawing interest from retail and institutional segments. In the SME space, issues from Vandan Foods, Marc Loire, Cedaar Textile, Pushpa Jewellers, and Silky Overseas enter Day 3. Allotments for Neetu Yoshi and Adcounty Media IPOs are also expected, boosting broader market sentiment.

Gold prices rise, crude oil steady ahead of OPEC+ meeting

In commodities, gold saw a sharp uptick of over 1 per cent after the US Senate passed a large-scale tax-and-spending bill, prompting a flight to safe-haven assets. Spot gold rose to $3,337.42 per ounce, while US futures climbed to $3,349.80.

Crude oil prices remained stable, with Brent crude settling at $67.11 and WTI at $65.45, as traders awaited clarity from the upcoming OPEC+ meeting, where a production hike for August is widely expected.

Stock market outlook: GIFT Nifty positive, global cues mixed, IPOs may drive midcap action

As GIFT Nifty suggests a firm start, the near-term direction for Indian markets will depend on evolving global macro signals, particularly from the US Fed, as well as traction in IPO subscriptions. Investors are also likely to monitor institutional positioning closely amid ongoing foreign selling and supportive domestic flows.

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