Stock Market News: Key Cues Likely To Drive Action On D-Street Today

Stock Market News: Benchmark indices Sensex and Nifty 50 closed lower on July 17 after a largely rangebound session, dragged down by weakness in IT and banking stocks.

The Sensex slipped 375.24 points, or 0.45 per cent, to end at 82,259.24, while the Nifty 50 shed 100.60 points, or 0.40 per cent, to settle at 25,111.45.

Here are the key market cues that could shape today’s trading on Dalal Street.

Q1 Earnings Today

Reliance Industries, Bandhan Bank, Indian Bank, Hindustan Zinc, JSW Steel, and 32 other companies are scheduled to announce their earnings today.

Meanwhile, investors will also react to the Q1 results declared post-market hours on July 17 by firms such as Axis Bank, Wipro, LTIMindtree, Jio Financial Services, and Ceat, among others.

Drone Attacks On Kurdish Oil Fields

Oil prices were mostly flat in early trade on July 18 after rising nearly 1.5 per cent a day earlier as concerns rose that drone attacks on oil fields in northern Iraq could disrupt supply.

In recent weeks, there have been several unclaimed drone attacks in Kurdistan. These attacks come amid a dispute between the regional government and federal authorities in Baghdad over control of oil export revenues. Several oil fields in the region have been targeted within a week.

US Retail Sales

US retail sales rose 0.6 per cent in June, beating expectations and bouncing back after two straight months of declines, according to the US Commerce Department. The pickup came despite ongoing concerns over tariffs and the broader economic outlook.

Stronger retail data is typically seen as a positive signal for global markets, including India, as it reflects resilience in the world's largest economy. However, it could also mean inflation is still a concern, which might delay any rate cuts by the US Federal Reserve.

Investors are closely watching for signs that Trump's tariff policies are starting to affect US economy.

US Jobless Claims

The US Department of Labor released the weekly jobless claims data for the first week of July yesterday. Data suggested that fewer Americans filed for unemployment benefits last week. This suggests that the US job market is still strong and likely to see steady job growth in July.

Motor vehicle assembly plant closures for reasons including maintenance and annual retooling for new models could be influencing the data, according to Reuters.

For investors, it is a mixed signal: the steady job data is a good sign for the economy, but softer hiring may keep the U.S. Fed from rushing into rate cuts.

Euro Current Account, Construction Output Data

The Euro Area's Current Account data for May is scheduled for release on July 18, 2025. This release will provide insights into the balance of payments of the Eurozone, including trade in goods and services, as well as income and current transfers. The data is released by the European Central Bank.

The Euro Area's Construction Output data for May is also scheduled for release on July 18. This release will provide data on the monthly changes in production of buildings and civil engineering projects.

How Global Markets Performed

Overnight in the US, the S&P 500 and Nasdaq Composite closed at record highs on July 17, extending their recent rally.

The Nasdaq rose 153.78 points, or 0.74 per cent, to finish at 20,884.27, while the S&P 500 gained 33.66 points, or 0.54 per cent, to end at 6,297.36. The Dow Jones Industrial Average also advanced, adding 229.71 points, or 0.52 per cent, to close at 44,484.49.

Asian markets on July 18 saw mixed performance.

In early trade, the Hong Kong-based Hang Seng rose over 1 per cent and China's SSE Composite also gained nearly 0.5 per cent. On the other hand, Japan's Nikkei 225 slipped nearly 0.25 per cent and South Korea's Kospi fell more than 0.5 per cent.