Sensex, Nifty Set For Muted Start

(RTTNews) - Indian shares are seen opening little changed on Monday, with earnings and trade developments likely to be in focus.

U.S. Commerce Secretary Howard Lutnick Sunday has called Aug. 1 the "hard deadline" for countries to start paying tariffs, adding that "nothing stops countries from talking to us after August 1."

On the earnings front, Reliance Industries reported Q1 net profit of Rs 26,994 crore, up 78 percent year-on-year, exceeding Street estimates.

Private sector lenders HDFC Bank and ICICI Bank both reported robust earnings growth for the June 2025 quarter, fueled by increased interest and non-interest income.

UltraTech Cement, Eternal, IDBI Bank are due to unveil their quarterly earnings results later today.

Asian markets were mostly higher this morning as China held key lending rates and Japan's ruling coalition lost control of the upper house in an election on Sunday, further weakening Prime Minister Shigeru Ishiba's grip on power.

Investors also looked ahead to a busy week of U.S. earnings, housing market data and comments from central bankers, including Federal Reserve Chairman Jerome Powell at a banking conference as U.S. President Donald Trump piles pressure on him over rates and renovations at the U.S. central bank's headquarters.

After big U.S. banks and Netflix reported quarterly earnings last week, Tesla and Google parent Alphabet are set to unveil their earnings results on Wednesday, followed by Intel on Thursday.

The Japanese yen held steady as focus shifted to key trade and economic developments ahead of Trump's August 1 tariff deadline, with the European Union reportedly preparing for possible retaliatory measures against U.S. tariffs as trade tensions escalate.

Gold was marginally higher at $3,354 an ounce as investors absorb mixed signals from Federal Reserve officials regarding potential interest-rate cuts.

Oil prices were little changed in Asian trade as investors weigh the prospect of increased supply from OPEC+ against new sanctions on Russia.

U.S. stocks ended narrowly mixed on Friday after reports emerged that President Donald Trump is demanding a minimum tariff of between 15 percent and 20 percent in any deal with the EU irrespective even if a trade deal is arrived at.

Investors also reacted to upbeat economic data and Netflix's unimpressive revenue forecast. Data showed U.S. consumer sentiment rose to a five-month high in early July as expectations about the economy and inflation continued to improve.

The tech-heavy Nasdaq Composite inched up marginally to reach a new record closing high while the S&P 500 finished marginally lower and the Dow eased 0.3 percent. European stocks ended mixed on Friday as lingering trade tensions offset some fairly strong earnings updates.

The pan European STOXX 600 ended flat with a negative bias. The German DAX dipped 0.3 percent, while France's CAC 40 finished marginally higher and the U.K.'s FTSE 100 added 0.2 percent.