Indian Markets Set for Positive Open Amid Inflation Data and Earnings Season

Indian equities are poised for a modestly positive opening despite looming concerns over US tariffs on exports. The Gift Nifty at 24,615 suggests Nifty could gain 60-70 points at the open, though trading volumes may remain subdued ahead of the Independence Day holiday.

July's CPI inflation hitting an eight-year low has buoyed sentiment, potentially giving the RBI room for future rate cuts. "Cooling inflation strengthens purchasing power and provides policy flexibility," noted Hariprasad K of Livelong Wealth, while cautioning about global trade headwinds from recent US tariff actions.

The earnings season enters its final phase with key results expected from BPCL, Jubilant Foodworks, and IRCTC today. Market participants continue digesting yesterday's reports from ONGC and Apollo Hospitals.