Gift Nifty Signals Steady Start As Global Cues Turn Weak

Gift Nifty was trading around 24,113, at a premium of nearly 17 points over the previous close of Nifty futures, indicating a steady opening for Indian benchmark indices on Friday. However, weakness across Asian markets, a sharp decline in U.S. semiconductor stocks, rising crude oil prices and continuing geopolitical tensions could keep trading cautious.

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The Sensex ended Thursday 1.44 points higher at 77,186.87, while the Nifty 50 closed 5.75 points, or 0.02%, lower at 24,072.75.

Asian Markets Trade Lower

Asian equities opened weaker after Wall Street declined overnight. Japan’s Nikkei 225 fell 3.33%, while the Topix dropped 1.66%. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.06%. Hong Kong Hang Seng futures pointed to a lower opening, while South Korean markets remained closed for a holiday.

U.S. Stocks Decline On Chip Selloff

The Dow Jones Industrial Average fell 0.20% to 52,553.32, while the S&P 500 declined 0.51% to 7,533.77. The Nasdaq Composite dropped 1.47% to 25,881.95.

The Nvidia stock price fell 2.40%, while AMD, Broadcom, Intel and Micron Technology declined more than 5% each. SanDisk, Western Digital and Seagate Technology fell as much as 12.6%. The Apple stock price rose 1.76%, while Microsoft share price gained 1.38%. Tesla stock price declined 0.86%.

U.S.-Iran Conflict Keeps Markets On Edge

The United States expanded its airstrike campaign against Iran, while Tehran launched fresh missile attacks against U.S.-allied countries in the Middle East. The escalation has added to concerns over potential disruptions to energy supplies and key shipping routes.

Crude Oil Prices Rise

Brent crude price rose 1.27% to $85.30 a barrel, while WTI crude price gained 1.23% to $79.92. Both benchmarks were headed for weekly gains of more than 11%, marking their strongest weekly advance since April.

Wipro Q1 Results In Focus

Wipro reported a 4.3% quarter-on-quarter decline in consolidated net profit to ₹3,352 crore for Q1FY27. IT services revenue increased 1.8% QoQ to ₹24,453 crore, while constant-currency revenue declined 1.2%. The company guided for IT services revenue to range between a 1.5% decline and 0.5% growth in constant currency and declared an interim dividend of ₹2 per share.

U.S. Retail Sales And Jobless Claims

U.S. retail sales rose 0.2% in June after a revised 1% increase in May. Initial jobless claims fell by 8,000 to 208,000 for the week ended July 11.

Gold And Dollar

Spot gold price rose 0.1% to $3,980.17 an ounce after a 2% fall in the previous session. Silver price stood at $55.50 an ounce. The dollar index was at 100.72 and was headed for a weekly decline of 0.24%.

With Gift Nifty pointing to a relatively stable opening, investors are likely to track global risk sentiment, crude oil prices and the ongoing Q1FY27 earnings season during Friday’s trading session.