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Indian benchmark indices are likely to open on a weak note on Wednesday, as a mix of global headwinds and domestic triggers set the tone for the trading day. At 8:00 AM, GIFT Nifty futures were quoting 94 points lower at 25,172, hinting at a negative start for the broader markets.

Traders will keep a close watch on Q1 corporate earnings, US President Donald Trump’s fresh tariff move on Indonesia, June inflation figures from the US, and investor activity in both primary and secondary markets.

Markets across the Asia-Pacific region traded mixed this morning after US President Donald Trump revealed a preliminary trade deal with Indonesia. As part of the agreement, the US will impose a 19 per cent tariff on Indonesian exports, while gaining expanded access to the Southeast Asian nation’s markets.

“We will pay no tariffs. So they are giving us access to Indonesia, which we never had,” Trump stated, adding, “They are going to pay 19 per cent.”

Following the announcement, regional indices showed signs of caution. Japan’s Nikkei edged up 0.11 per cent, while the broader Topix index traded flat with a negative bias. South Korea’s Kospi slipped 0.53 per cent and Australia’s ASX 200 declined 0.73 per cent. Investors also await Indonesia’s central bank policy announcement due later in the day.

In the US, inflation data released overnight showed consumer prices rose 2.7 per cent year-on-year in June, up from 2.4 per cent in May. This marks the highest reading since February and was broadly in line with market expectations.

On Wall Street, equities ended lower amid inflation concerns and trade policy developments. The S&P 500 fell 0.4 per cent to close at 6,243.76, while the Dow Jones Industrial Average shed 436.36 points, or 0.98 per cent, to settle at 44,023.29. However, the Nasdaq Composite bucked the trend, gaining 0.18 per cent to finish at 20,677.80.

Investors are now turning their attention to US Producer Price Index (PPI) data and the UK’s June inflation print, both due later today.

On the earnings front, several key companies are set to report their April-June quarter numbers today. Among them are HDFC Life, HDB Financial Services, ICICI Lombard. 

The day will also see Q1 results from Tech Mahindra, ITC Hotels, Angel One, LT Technology Services, IXIGO (LE Travenues), Kalpataru Projects, DB Corp, Oriental Hotels, Lotus Chocolate, and Reliance Industrial Infrastructure, among others.

Institutional flows remained supportive in the previous session. On July 15, foreign institutional investors (FIIs) net bought equities worth ₹104.49 crore. Meanwhile, domestic institutional investors (DIIs) stepped up their purchases, with a net buy figure of ₹1,477.58 crore.

The SME segment remains active in the primary market. Asston Pharmaceuticals and CFF Fluid IPOs will list on the bourses today. Monika Alcobev's SME IPO opens for subscription, while Anthem Biosciences (Mainboard) and Spunweb Nonwoven (SME) enter the third day of their subscription windows.

Gold prices slipped on Tuesday as traders assessed the broader implications of Trump’s tariff moves, even as US inflation data showed a steady upward trend. Spot gold fell 0.5 per cent to $3,328.06 per ounce, while US gold futures ended 0.7 per cent lower at $3,336.70.

Crude oil prices also softened after President Trump issued a 50-day deadline for Russia to end its invasion of Ukraine, temporarily easing geopolitical supply concerns. Brent crude futures declined 0.72 per cent to $68.71 a barrel, and US WTI fell 0.69 per cent to $66.52.

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