Domestic equities started the week on a weak footing, with the Nifty closing 78 points lower at 24,287. Analysts say Indian equities are likely to remain range-bound as the market shifts focus from the concluded Q1FY27 earnings season to global macro and geopolitical developments. The Strait of Hormuz and the trajectory of crude oil prices will remain the key near-term drivers, as conflicting US-Iran positions have clouded prospects of a near-term resolution, raising risks of elevated crude prices. Investors will also track the US Federal Reserve's July meeting minutes this week for cues on the global interest-rate outlook.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 60.50 points, or 0.25 per cent, at 24,314.50, signaling that Dalal Street was headed for a negative start on Tuesday.

Tech View: On the lower end, support is placed at 24,225, below which the correction could extend towards 24,190/24,050. Overall, the bias is likely to remain volatile.

India VIX: India VIX, which is a measure of the fear in the markets, rose 0.2% to settle at 11.32 levels.

Overnight on Wall Street, the S&P 500 slipped 0.5% while the Nasdaq Composite edged 0.3% lower as soft US economic data, including an unexpected drop in retail sales, prompted markets to scale back bets on an imminent Federal Reserve interest rate move.

Asian stocks advanced with the MSCI Asia Pacific Index rising 0.3%. Shares in South Korea climbed 1.9% as traders returned after a holiday on Monday. Earlier, chipmakers notched gains in US trading as details of Anthropic’s surging sales growth stoked bullish sentiment around AI, even as the broader market declined.

S&P 500 futures were little changed as of 9:03 a.m. Tokyo time

Hang Seng futures fell 0.3%

Japan’s Topix fell 0.2%

Australia’s S&P/ASX 200 was little changed

Euro Stoxx 50 futures were little changed

Oil prices crept higher and bond yields rose, blunting paltry gains for stocks at the start of Asian trading on Tuesday as a US-Iran truce expired and Tehran said it would shift to a "fully offensive" military posture.

Gold rose for a third straight session on Tuesday as fears of a U.S. interest rate hike next month eased, with investors awaiting minutes from the Federal Reserve's latest meeting for fresh clues on the monetary policy path.

Read more: Ahead of Market: 10 things that will decide stock market action on Tuesday

Stocks in F&O ban today

2) LIC

4) SAIL

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

Foreign portfolio investors net sold shares worth Rs 2,535 crore on Monday. DIIs, meanwhile, were net buyers at Rs 5,101 crore.

The rupee depreciated 19 paise to close at 95.61 against the US dollar on Monday, amid weak domestic equity markets and a surge in crude oil prices.