Stock market today: Gift Nifty down 140 pt; Key levels to watch Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 139.60 points, or 0.56 per cent, down at 24,732, hinting at a negative start for the domestic market on Friday.
- Aug 1, 2025,
- Updated Aug 1, 2025 8:28 AM IST
Indian benchmark indices are set to open on a weaker note on Friday amid the ongoing tussle over Trump tariffs with India and other partner nations. Rich valuations of the Indian equities, weak quarterly earnings and relentless FIIs selling its denting the sentiments at Dalal Street.
Nifty futures on the NSE International Exchange traded 139.60 points, or 0.56 per cent, down at 24,732, hinting at a negative start for the domestic market on Friday. Asian shares fell on Friday after the US slapped dozens of trading partners with steep tariffs. KOSPI crashed as much as 3 per cent, while Hang Seng and Nikkei were down up to half a per cent.
Overall, the market reflected a cautious yet selective approach. Market continues to hold high hopes for a more favorable tariff outcome in the near-term, said Vinod Nair, Head of Research at Geojit Investments.
US stocks closed lower on Thursday as early gains faded. The Dow Jones Industrial Average fell 330.30 points, or 0.74 per cent, to 44,130.98, the S&P 500 lost 23.51 points, or 0.37 per cent, to 6,339.39 and the Nasdaq Composite retreated 7.23 points, or 0.03 per cent, to 21,122.45.
The dollar headed for its best week in almost three years against its major peers. The US dollar index pushed as high as 100.10 overnight, topping 100 for the first time since May 29. Treasuries were largely steady on Friday. Benchmark 10-year US Treasury yields ticked up 1 basis point to 4.374 per cent, after slipping 2 bps overnight.
In commodity markets, oil prices were steady after falling 1 per cent overnight. US crude rose 0.1 per cent to $69.36 per barrel, while Brent was at $71.84 per barrel, up 0.2 per cent. Spot gold prices were off a fraction at $3,286 an ounce.
As the new series begins, the market is likely to consolidate, but global developments and corporate earnings will continue to drive volatility, said Ajit Mishra, SVP of Research at Religare Broking. "We maintain our cautious stance and recommend a stock-specific approach, given the mixed trends across sectors. Traders should also avoid averaging down on loss-making positions."
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 5,588.91 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 6,372.71 crore on a net-net basis.
Nifty & Sensex outlook
Nifty has formed a bearish candle, indicating weakness in the broader trend. The zone of 24,600-24,550 asct as important support for the index. If it slips below the 24550 level, then the next crucial support is placed at the 24,400 level. While on the upside, 25,000-25,050 will act as an immediate hurdle for the index, said Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities.
For traders, 24,650/80,800 and 24,600/80,600 would act as key support zones. As long as the market is trading above the same, the pullback formation is likely to continue, said Shrikant Chouhan, Head of Equity Research at Kotak Securities. "On the higher side, the market could move up to 25,000/81,900 and 25,050/82,200. On the other side, below 24,600/80,600 the sentiment could change."
Nifty Bank outlook
Nifty Bank showed signs of resilience, indicating that buying interest remains intact. Key support levels are now placed at 55,730, followed by 55,500 and 55,000, said Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking. "Holding above these levels may allow for some upside, while resistance is seen in the 56,250–56,600 zone. A decisive breakout above this range could trigger a rally toward the psychological 57,000 level."
Nifty Bank formed a bull candle with a long lower shadow signaling consolidation amid stock specific action on the monthly F&O expiry, said Nifty Bank. "The index on Thursday session rebounded from the key support area of 55,500–55,000 region being the confluence of the 100-day EMA and key Fibonacci retracement levels —underscoring it as a high-probability demand zone."
Indian benchmark indices are set to open on a weaker note on Friday amid the ongoing tussle over Trump tariffs with India and other partner nations. Rich valuations of the Indian equities, weak quarterly earnings and relentless FIIs selling its denting the sentiments at Dalal Street.
Nifty futures on the NSE International Exchange traded 139.60 points, or 0.56 per cent, down at 24,732, hinting at a negative start for the domestic market on Friday. Asian shares fell on Friday after the US slapped dozens of trading partners with steep tariffs. KOSPI crashed as much as 3 per cent, while Hang Seng and Nikkei were down up to half a per cent.
Overall, the market reflected a cautious yet selective approach. Market continues to hold high hopes for a more favorable tariff outcome in the near-term, said Vinod Nair, Head of Research at Geojit Investments.
US stocks closed lower on Thursday as early gains faded. The Dow Jones Industrial Average fell 330.30 points, or 0.74 per cent, to 44,130.98, the S&P 500 lost 23.51 points, or 0.37 per cent, to 6,339.39 and the Nasdaq Composite retreated 7.23 points, or 0.03 per cent, to 21,122.45.
The dollar headed for its best week in almost three years against its major peers. The US dollar index pushed as high as 100.10 overnight, topping 100 for the first time since May 29. Treasuries were largely steady on Friday. Benchmark 10-year US Treasury yields ticked up 1 basis point to 4.374 per cent, after slipping 2 bps overnight.
In commodity markets, oil prices were steady after falling 1 per cent overnight. US crude rose 0.1 per cent to $69.36 per barrel, while Brent was at $71.84 per barrel, up 0.2 per cent. Spot gold prices were off a fraction at $3,286 an ounce.
As the new series begins, the market is likely to consolidate, but global developments and corporate earnings will continue to drive volatility, said Ajit Mishra, SVP of Research at Religare Broking. "We maintain our cautious stance and recommend a stock-specific approach, given the mixed trends across sectors. Traders should also avoid averaging down on loss-making positions."
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 5,588.91 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 6,372.71 crore on a net-net basis.
Nifty & Sensex outlook
Nifty has formed a bearish candle, indicating weakness in the broader trend. The zone of 24,600-24,550 asct as important support for the index. If it slips below the 24550 level, then the next crucial support is placed at the 24,400 level. While on the upside, 25,000-25,050 will act as an immediate hurdle for the index, said Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities.
For traders, 24,650/80,800 and 24,600/80,600 would act as key support zones. As long as the market is trading above the same, the pullback formation is likely to continue, said Shrikant Chouhan, Head of Equity Research at Kotak Securities. "On the higher side, the market could move up to 25,000/81,900 and 25,050/82,200. On the other side, below 24,600/80,600 the sentiment could change."
Nifty Bank outlook
Nifty Bank showed signs of resilience, indicating that buying interest remains intact. Key support levels are now placed at 55,730, followed by 55,500 and 55,000, said Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking. "Holding above these levels may allow for some upside, while resistance is seen in the 56,250–56,600 zone. A decisive breakout above this range could trigger a rally toward the psychological 57,000 level."
Nifty Bank formed a bull candle with a long lower shadow signaling consolidation amid stock specific action on the monthly F&O expiry, said Nifty Bank. "The index on Thursday session rebounded from the key support area of 55,500–55,000 region being the confluence of the 100-day EMA and key Fibonacci retracement levels —underscoring it as a high-probability demand zone."