Indian stock markets opened cautiously on Tuesday as investors awaited a potential breakthrough from the upcoming US-Russia meeting scheduled for this weekend. The Nifty 50 began the day at 24,563.35, down 21.70 points or 0.09%, while the BSE Sensex opened at 80,508.51, slipping 95.57 points or 0.12%.
Market experts noted that volatility remains elevated, with participants closely tracking the next move by US President Donald Trump and hoping for relief from punitive tariffs on India. Ajay Bagga, Banking and Market Expert, highlighted that “Truce, Tariffs and Truncated Week” are the current market drivers.
On the truce front, Ukraine is engaging with multiple countries, including India, raising optimism for a positive outcome this Friday. On tariffs, the US has granted a 90-day extension on the China-US trade deal and removed tariffs on gold—moves viewed positively by the markets.
In broader indices, the Nifty 100 was down 0.09%, while the Nifty Midcap 100 rose 0.12% and the Nifty Smallcap 100 gained 0.36%. Sector-wise on the NSE, Nifty Auto advanced 0.24%, Nifty FMCG was up 0.09%, Nifty IT rose 0.10%, Nifty Media jumped 0.87%, Nifty Metal gained 0.15%, and Nifty Pharma added 0.15%.
Meanwhile, AMFI data showed strong equity mutual fund inflows in July. Domestic flows have offset selling by foreign portfolio investors (FPIs) and promoters, and analysts expect this momentum to lift markets further as selling pressure eases.
India’s Consumer Price Index (CPI) data, due later today, is projected to remain well below the RBI’s target. According to SBI Securities, the Nifty posted a 0.91% gain in the first trading session of the week, closing near 24,600. For the rally to extend, a move above the 24,700–24,740 resistance range is essential; sustained momentum could push levels toward 24,900.
