Stock market today: Nifty down 43 pts; key levels to watch for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 43.20 points, or 0.17 per cent, down at 24,667, hinting at a negative start for the domestic market on Tuesday.
- Jul 29, 2025,
- Updated Jul 29, 2025 8:00 AM IST
Indian benchmark indices are likely to open lower on Tuesday amid the muted global cues. The delayed trade deal between the US and India, along with muted corporate earnings are denting sentiments at Dalal Street. Relentless FIIs selling is adding to the pressure among the traders.
Nifty futures on the NSE International Exchange traded 43.20 points, or 0.17 per cent, down at 24,667, hinting at a negative start for the domestic market on Tuesday. Asian stocks were mostly down on Tuesday after a flat session on Wall Street. Nikkei and Hang Seng dropped nearly a per cent, while KOSPI was seen marginally up.
India's expensive valuations have been prompting investors to redeem their holdings at regular intervals, muted Q1 results so far and persistent selling by overseas investors has intensified selling pressure over past few sessions, said Prashanth Tapse, Senior VP (Research) at Mehta Equities. "Investors are taking a cautious approach and curbing their holdings ahead of the monthly F&O expiry on Thursday," he said.
The S&P 500 and Nasdaq edged higher on Monday. The Dow Jones Industrial Average fell 64.36 points, or 0.14 per cent, to 44,837.56, the S&P 500 gained 1.13 points, or 0.02 per cent, to 6,389.77 and the Nasdaq Composite gained 70.27 points, or 0.33 per cent, to 21,178.58.
Oil extended gains on Tuesday, lifted by hopes of improved economic activity after the US-EU trade deal, a potential US-China tariff truce and Donald Trump's shorter deadline for Russia to end the Ukraine war. Brent crude futures were up 24 cents, or 0.34 per cent, to $70.28 a barrel, while US West Texas Intermediate crude was at $66.93 a barrel, up 22 cents, or 0.33 per cent.
The euro struggled to recoup its steep losses on Tuesday as investors sobered up to the fact that terms of the trade deal between the US and the European Union. The dollar held on to gains on Tuesday. The dollar index steadied at 98.67. Elsewhere, spot gold shed half a per cent to $3,318.51 an ounce.
Markets are currently grappling with headwinds on both domestic and global fronts. On the domestic side, earnings disappointments and persistent foreign fund outflows are dampening sentiment, said Ajit Mishra, SVP of Research at Religare Broking. "Uncertainty surrounding trade deals, despite strength in the US markets, is contributing to the cautious approach."
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 6,082.47 crore on Monday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 6,764.55 crore on a net-net basis.
Nifty & Sensex outlook
Nifty remains vulnerable unless it manages a sustained move above 24,770, which could open the door for a recovery toward the 24,858 mark, said Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking. "On the downside, immediate support is placed at 24,600, followed by 24,500—both of which may serve as potential zones for initiating fresh long positions," he said.
As long as the market is trading below 24,800/81,100, the weak sentiment is likely to continue, said Shrikant Chouhan, Head Equity Research, Kotak Securities. "On the downside, the market may correct until 24,550–24,500/80,500-80,350. On the upside, a break above 24,800/81,100 could lead to a pullback rally extending up to 24,900/81,400. Further upside may also continue, potentially pushing the market up to 25,000/81,700."
Nifty Bank outlook
Bank Nifty breached its short-term swing low of 56,200 and formed a red candle of a daily scale, indicating weakness, said Hrishikesh Yedve, AVP Technical and Derivative Research at Asit C. Mehta Investment Interrmediates. "On the downside, 55,500 and 55,150 are likely to act as crucial support zones. Thus, traders are advised to follow a sell-on-bounce strategy in Bank Nifty."
The zone of 55,800-55,700 will act as immediate support for Nifty Bank, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "If the index slips below the 55,700 level, then the next crucial support is placed at the 55,400-55,300 zone. While on the upside, the zone of 56,400-56,500 will act as a crucial hurdle for the index," it said.
Indian benchmark indices are likely to open lower on Tuesday amid the muted global cues. The delayed trade deal between the US and India, along with muted corporate earnings are denting sentiments at Dalal Street. Relentless FIIs selling is adding to the pressure among the traders.
Nifty futures on the NSE International Exchange traded 43.20 points, or 0.17 per cent, down at 24,667, hinting at a negative start for the domestic market on Tuesday. Asian stocks were mostly down on Tuesday after a flat session on Wall Street. Nikkei and Hang Seng dropped nearly a per cent, while KOSPI was seen marginally up.
India's expensive valuations have been prompting investors to redeem their holdings at regular intervals, muted Q1 results so far and persistent selling by overseas investors has intensified selling pressure over past few sessions, said Prashanth Tapse, Senior VP (Research) at Mehta Equities. "Investors are taking a cautious approach and curbing their holdings ahead of the monthly F&O expiry on Thursday," he said.
The S&P 500 and Nasdaq edged higher on Monday. The Dow Jones Industrial Average fell 64.36 points, or 0.14 per cent, to 44,837.56, the S&P 500 gained 1.13 points, or 0.02 per cent, to 6,389.77 and the Nasdaq Composite gained 70.27 points, or 0.33 per cent, to 21,178.58.
Oil extended gains on Tuesday, lifted by hopes of improved economic activity after the US-EU trade deal, a potential US-China tariff truce and Donald Trump's shorter deadline for Russia to end the Ukraine war. Brent crude futures were up 24 cents, or 0.34 per cent, to $70.28 a barrel, while US West Texas Intermediate crude was at $66.93 a barrel, up 22 cents, or 0.33 per cent.
The euro struggled to recoup its steep losses on Tuesday as investors sobered up to the fact that terms of the trade deal between the US and the European Union. The dollar held on to gains on Tuesday. The dollar index steadied at 98.67. Elsewhere, spot gold shed half a per cent to $3,318.51 an ounce.
Markets are currently grappling with headwinds on both domestic and global fronts. On the domestic side, earnings disappointments and persistent foreign fund outflows are dampening sentiment, said Ajit Mishra, SVP of Research at Religare Broking. "Uncertainty surrounding trade deals, despite strength in the US markets, is contributing to the cautious approach."
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 6,082.47 crore on Monday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 6,764.55 crore on a net-net basis.
Nifty & Sensex outlook
Nifty remains vulnerable unless it manages a sustained move above 24,770, which could open the door for a recovery toward the 24,858 mark, said Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking. "On the downside, immediate support is placed at 24,600, followed by 24,500—both of which may serve as potential zones for initiating fresh long positions," he said.
As long as the market is trading below 24,800/81,100, the weak sentiment is likely to continue, said Shrikant Chouhan, Head Equity Research, Kotak Securities. "On the downside, the market may correct until 24,550–24,500/80,500-80,350. On the upside, a break above 24,800/81,100 could lead to a pullback rally extending up to 24,900/81,400. Further upside may also continue, potentially pushing the market up to 25,000/81,700."
Nifty Bank outlook
Bank Nifty breached its short-term swing low of 56,200 and formed a red candle of a daily scale, indicating weakness, said Hrishikesh Yedve, AVP Technical and Derivative Research at Asit C. Mehta Investment Interrmediates. "On the downside, 55,500 and 55,150 are likely to act as crucial support zones. Thus, traders are advised to follow a sell-on-bounce strategy in Bank Nifty."
The zone of 55,800-55,700 will act as immediate support for Nifty Bank, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "If the index slips below the 55,700 level, then the next crucial support is placed at the 55,400-55,300 zone. While on the upside, the zone of 56,400-56,500 will act as a crucial hurdle for the index," it said.