The Indian market opened weak on July 21. GIFT Nifty traded around 24,141 in early trade. This signals a cautious start for domestic equities.
On July 20, the Sensex closed lower by 442.93 points at 77,708.52. The Nifty also slipped, falling 95.80 points to 24,238.50.
The decline was driven by heavy selling in private banking stocks after their June‑quarter earnings. Global cues were weak, and escalating tensions in the Middle East added to the gloom.
Asian markets improved after three days of losses. A sell‑off in chip stocks eased, and investors are looking forward to megacap tech earnings this week.
In the United States, the Dow fell 307.16 points to 51,839.26. The S&P 500 dropped 14.41 points to 7,443.28, while the Nasdaq Composite slipped 12.17 points to 25,508.07.
The U.S. dollar hovered near a one‑week high. Conflicting signals from the Middle East kept markets uncertain, as hostilities raised fears about energy supplies.
Treasury yields were largely unchanged. The 10‑year Treasury held at 4.58%, and the 2‑year Treasury stayed near 4.20%.
Asian currencies showed mixed moves against the dollar. The Malaysian ringgit gained 0.108%, the Chinese renminbi up 0.087%, and the Singapore dollar edged up 0.023%. The Philippine peso slipped 0.006%, and the Japanese yen remained flat.
The South Korean won was the weakest, falling 0.264%. The Indonesian rupiah slipped 0.15%, the Taiwan dollar down 0.081%, and the Thai baht eased 0.056%.
Oil prices softened as markets weighed mediation talks between the U.S. and Iran. New attacks and threats of a naval blockade by Yemen’s Houthis added to the uncertainty.
Gold prices stayed steady. Traders are monitoring Middle East developments for clues on how energy prices might influence inflation.
Foreign institutional investors sold Indian equities worth Rs 1,121 crore on July 20. Domestic institutional investors bought shares worth Rs 1,312 crore.
These movements set the tone for the market’s day ahead, with investors staying cautious amid global and domestic uncertainties.