Indian Stock Market Today: Nasdaq Hits Record High, 8 Key Cues to Watch

Despite a dip in domestic indices on Wednesday, the Indian stock market looks set for a stable opening as global cues improve. Key highlights include Wall Street records, the US-Vietnam trade deal, and Japan’s upbeat services PMI.

Mumbai, July 3, 2025 – The Indian stock market is expected to open flat to mildly positive on Thursday, following mixed Asian cues and a record-setting session on Wall Street. While the Sensex and Nifty 50 fell on Wednesday, improving global sentiment and a positive move in Gift Nifty offer a hopeful outlook.

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Here are 8 key developments that could influence the market today:

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1. Gift Nifty Signals Mild Positivity

Gift Nifty traded around 25,567, a 20-point premium over Nifty futures’ previous close, indicating a subdued yet positive opening for Indian benchmarks.

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2. Wall Street Sets New Records

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The Nasdaq Composite surged 0.94% to close at 20,393.13, while the S&P 500 rose 0.47% to a new high of 6,227.42. The Dow Jones was nearly flat, easing 10.52 points.

Tech stocks rallied:

• Tesla +4.97%
• Apple +2.22%
• Nvidia +2.58%
• Intel -4.25%
• Centene -40% (plunge triggered by weak outlook)

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3. US-Vietnam Trade Deal

President Donald Trump announced a breakthrough trade pact with Vietnam, cutting US tariffs on Vietnamese goods to 20% from a threatened 46%, while allowing US products duty-free access into Vietnam.

This deal eased trade tensions and added fuel to Wednesday’s stock rally.

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4. Weak US Private Payrolls

The ADP report showed private sector jobs fell by 33,000 in June — the first decline since March 2023 — raising concerns about US labour market strength.

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5. Asian Markets Mixed

• Nikkei 225: -0.15%
• Topix: -0.21%
• Kospi: +0.77%
• Kosdaq: +0.50%
• Hang Seng futures: Indicate a lower open

Asian sentiment remains cautious amid mixed macro data and geopolitical uncertainty.

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6. Japan Services PMI Beats Estimates

Japan’s service sector expanded for the third consecutive month in June. The final au Jibun Bank Services PMI rose to 51.7, beating May’s 51.0 and the flash estimate of 51.5, reflecting rising business confidence.

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7. Crude Oil Eases on Weak US Demand

Crude prices declined due to an unexpected build in US inventories:

• Brent crude: -0.35% to $68.87/barrel
• WTI crude: -0.36% to $67.21/barrel

Weak energy demand signals may weigh on oil-linked stocks in India.

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8. Gold Prices Fall After Trade Optimism

As trade tensions ease, gold lost some of its safe-haven appeal:

• Spot gold: -0.3% to $3,345.57/oz
• US gold futures: -0.1% to $3,356.60/oz

This could affect sentiment in precious metals and jewellery stocks.

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Market View

Despite Wednesday’s 0.35% drop in Nifty 50 and 0.34% decline in Sensex, analysts advise cautious optimism.

“With global indices rising, especially the Nasdaq, and domestic markets pausing for breath, investors should maintain a positive bias but focus on sector rotation and **risk-reward dynamics,” said Ajit Mishra, SVP – Research at Religare Broking.

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Previous Close (July 2, 2025):

• Sensex: 83,409.69 (-287.60 points)
• Nifty 50: 25,453.40 (-88.40 points)

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Tags:

Indian stock market, Sensex today, Nifty today, Gift Nifty, US-Vietnam trade deal, Nasdaq record high, Wall Street update, Asian markets, ADP payroll report, Japan Services PMI, Crude oil prices, Gold prices, July 3 market outlook