Indian Markets Set for Cautious Open Amid Global Market Volatility

Indian markets are set for a subdued start on July 30, mirroring a sharp decline in US markets overnight. The Dow Jones Industrial Average dropped 2.19%, while the S&P 500 and Nasdaq fell by 1.52% and 1.74% respectively, following the US Federal Reserve's decision to maintain existing interest rates.

The GIFT Nifty, which tracks the performance of the Nifty 50, suggests a cautious opening as investors weigh global economic cues against domestic buying trends. Despite this, foreign institutional investors (FIIs) injected approximately ₹2,981 crore into the Indian market on July 29, while domestic institutional investors (DIIs) added nearly ₹1,000 crore to their holdings.

Trading across Asian bourses remains mixed today, with the Japanese Nikkei and South Korean Kospi posting gains, but other markets like the Taiwan Weighted index trading lower. Gold prices have trended upward, often acting as a preferred asset during periods of uncertainty and inflationary pressure.