Indian stock markets are likely to open flat to negative on Monday, July 7, as investors react to fresh geopolitical tensions stemming from the United States. In a statement late Sunday, U.S. Treasury Secretary Scott Bessent announced that tariffs will be enforced starting August 1 for countries that haven’t finalized trade agreements with the U.S. India, notably, is still negotiating and has yet to reach a deal, leaving investors wary of potential trade headwinds.
Bessent clarified that the new deadline is intended to offer trading partners additional time to renegotiate terms with the U.S. administration. However, the move has already begun to rattle markets across Asia and may weigh on investor sentiment in India as well.
At 6:40 AM, GIFT Nifty futures were trading 13 points lower at 25,528, suggesting a subdued start for domestic indices. With no major domestic triggers expected today, the broader market is expected to remain range-bound, with stock-specific action likely to dominate.
Meanwhile, attention is gradually shifting toward the April–June earnings season, which kicks off this week. Tata Consultancy Services (TCS) will open the results calendar with its Q1FY26 numbers on July 10. This will be followed by DMart on July 11, HCL Technologies on July 14, and Tech Mahindra on July 16. Investors will be watching closely for management commentary on demand recovery, cost pressures, and sector-specific outlooks.
Globally, sentiment remains cautious. Most Asian markets opened lower, tracking the tariff-related uncertainty. Japan’s Nikkei 225 slipped 0.26 percent, South Korea’s Kospi fell 0.48 percent, and Australia’s ASX 200 was flat in early trade. U.S. stock futures were also in the red, with Dow Jones futures down 146 points, or 0.32 percent. Futures on the S&P 500 and Nasdaq 100 were trading lower by 0.39 percent and 0.42 percent, respectively.
On the primary market front, Travel Food Services is set to open its IPO for subscription today in the mainboard segment. Meanwhile, allotment status for the recently concluded Crizac IPO will be finalized. In the SME segment, shares of Vandan Foods, Cedaar Textiles, Pushpa Jewellers, and Silky Overseas are expected to list on the bourses. Several other IPOs remain active, with Happy Square Outsourcing and Cryogenic OGS closing for subscription today. Meta Infotech enters its second day, while Smarten Power Systems and Chemkart India will open their issues.
With global headwinds and the absence of strong domestic cues, market activity today is expected to be driven largely by corporate developments, foreign institutional flows, and global sentiment.
