The Sensex and Nifty 50 are likely to open flat on Monday, as mixed overnight global cues weigh on investor sentiment.

Asian markets showed a mixed trend, while US markets closed higher last week, supported by gains in US stock futures after President Donald Trump signed a framework trade agreement with the European Union.

This week, investors will closely track several key market drivers, including progress on the US-India trade deal, the US Federal Reserve meeting, auto sales figures, IPO activity, Q1 earnings, movements in crude oil prices, and other major domestic and global economic indicators.

However, on Friday, Indian equities declined sharply, marking their second straight session of losses.

Domestic Market Recap

On Friday, Indian indices closed in the red:

• Sensex slumped by 721.08 points (0.88%) to close at 81,463.09
• Nifty 50 moved down by 225.10 points (0.90%) to settle at 24,837.00

Gift Nifty

Gift Nifty was trading near 24,860, around 14 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Wall Street Performance

The US stock market closed higher on Friday as optimism over the trade agreement between the US and the European Union lifted investor sentiment. Both the S&P 500 and the Nasdaq ended the session at record highs.

• Dow Jones Industrial Average surged by 208.01 points (0.47%) to close at 44,901.92.
• S&P 500 up by 25.29 points (0.40%), ending at 6,388.64.
• The Nasdaq Composite was trading higher by 50.36 points (0.24%), finishing at 21,108.32.

Gold Prices

Gold prices dropped to their lowest level in nearly two weeks after the announcement of a framework trade agreement between the United States and the European Union dampened demand for safe-haven assets.

• Spot gold was trading down by 0.1% at $3,332.39/oz 
• US gold futures slumped by 0.1% at $3,332.50

Crude Oil Prices

Crude oil prices climbed following the US’s trade agreement with the European Union and indications that Washington may extend its tariff pause with China, boosting market optimism around global demand.

• Brent crude surged by 0.34% to $68.67/barrel
• US West Texas Intermediate (WTI) crude: 0.32% to $65.37/barrel

Overnight Major Global Events Driving Sentiment

1. US-EU Trade Deal: The United States has reached a framework trade agreement with the European Union, under which a 15% import tariff will be imposed on most EU goods. The deal, announced jointly by US President Donald Trump and European Commission President Ursula von der Leyen, is set to take effect from August 1.

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