GIFT Nifty points to weak start as FPIs extend selloff

GIFT Nifty:

GIFT Nifty July 2025 futures were trading 21.50 points lower in early trade, suggesting a negative opening for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 3,694.31 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,820.77 crore in the Indian equity market on 17 July 2025, provisional data showed.

According to NSDL data, FPIs have sold shares worth Rs 107797.48 crore in the secondary market during July 2025. This follows their purchase of shares worth Rs 8466.77 crore in June 2024.

Global Markets:

Asian shares were trading higher on Friday, taking cues from Wall Street's rally overnight. Investors cheered a batch of upbeat US economic reports and corporate earnings that comfortably beat expectations.

In Japan, inflation showed some signs of cooling. Core inflation for June eased to 3.3%, down from Mays 29-month high of 3.7%, with rice prices showing signs of moderation. Headline inflation also slipped to 3.3%, from 3.5% the previous month. However, the "core-core" inflation gauge, closely tracked by the Bank of Japan, as it strips out both food and energy, edged up to 3.4%, hinting that underlying price pressures are still in play.

Over on Wall Street, the S&P 500 and Nasdaq closed at record highs on Thursday. Strong earnings and resilient consumer spending drove the rally. The Dow Jones rose 0.52%, while the S&P 500 climbed 0.54%, and the Nasdaq jumped 0.74%.

Investors also brushed off worries about new US trade tariffs set to kick in from August 1 under President Trump, focusing instead on growth and AI-fueled optimism.

Taiwanese chip giant TSMC stole the spotlight with stellar earnings and a bullish outlook on AI-related demand. Its US-listed shares surged 3.4%, igniting gains across the semiconductor and tech sectors.

Adding to the momentum, US retail sales rebounded strongly in June after two months of decline. Sales rose 0.6% month-on-month, reversing a 0.9% dip in May, thanks to increased auto purchases and a still-healthy consumer.

Domestic Market:

Equity benchmarks ended slightly lower on Thursday as investors navigated mixed global cues and a choppy trading session marked by the weekly F&O expiry. After opening flat, the Nifty gradually lost ground, and a mid-session recovery attempt fizzled out, eventually closing below the 25,120 mark. The S&P BSE Sensex declined 375.24 points or 0.45% to 82,259.24. The Nifty 50 index fell 100.60 points or 0.40% to 25,111.45.

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