Research Report : Indian Financial Markets Outlook - 03th July 2025

Ravi Bhatt
Sebi Registered Research Analyst - INH000012591
Website - www.capsavaj.com 

US trade deal with Vietnam lifts hope of economic momentum

Markets in Asia – Pacific region were marginally positive in the morning session with Nikkei 225 was up 0.06%. Kospi is up 0.75% while Australia’s S&P/ASX 200 down 0.2%. US stock futures held steady on Wednesday evening after the S&P 500 and Nasdaq reclaimed record highs, boosted by President Donald Trump’s announcement of a trade deal with Vietnam. European contracts rose while Asian shares were mixed. S&P 500 futures flat. Euro Stoxx 50 futures up 0.15%.

The GIFT Nifty was trading 41 points higher at 25,572 in the morning, indicating a positive start for the 50-stock benchmark on the NSE later in the morning. The weekly futures contract for the Nifty will expire today. Foreign portfolio investors stayed net sellers of Indian equities for the second consecutive day on Tuesday and sold shares worth Rs 1,970.1 crore. Domestic institutional investors stayed net buyers and acquired equities worth Rs 771.1 crore.

Fundamental Update

• Max Financial - Axis Max Life has initiated an information security assessment and data log analysis. Investigation is ongoing with experts. Negative

• RBL Bank – Bank was denied reports about NBD Bank seeking a minority stake. The bank stated no disclosure was required. Negative

• Punjab National Bank - In the first quarter of financial year 2026, global deposits rose 12.8% year-on-year to Rs 15.9 lakh crores. Positive

• AIA Engineering - Brazil's trade department reduced countervailing duty from 6.5% to 2.9%. Positive

Technical Update

• NIFTY – The Nifty index slipped further on lack of clarity over US India trade deal and settle at 25,453 on Wednesday. Index still in range whereby support lies at 25,250 while 25,600 is strong resistance. Today’s range – 25,375 – 25,650.

• BANKNIFTY – Bank nifty succumbed to persistence selling by FPIs and settled tad below 57K at 56,999 on Wednesday. Index has 17 day EMA of 56,575 as strong support while 57,500 is near term resistance. Today’s range – 56,800 – 57,500.

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