연준 정책 결정에 앞서 Muted Open을 위해 설정된 인도 주식 벤치 마크

Reuters

Tue, 29 Jul 2025, 10:43 pm 2 min read

(Reuters) -India's equity benchmarks were flat in early trade on Wednesday as gains in Larsen & Toubro following upbeat earnings were offset by investor caution ahead of the U.S. Federal Reserve's policy decision and a looming U.S. tariff deadline.

The Nifty 50 rose 0.08% to 24,840.4 points and the BSE Sensex gained 0.04% to 81,371.66 as of 9:56 a.m. IST.

Eleven of the 16 major sectors advanced. The broader mid-caps and smallp-caps were flat.

Larsen & Toubro climbed about 4%, and was the biggest percentage gainer on Nifty 50 after it beat quarterly profit estimates on Tuesday.

"L&T's strong earnings are a silver-lining in a quarter when earnings and management commentary have not been that great," said Dharmesh Kant, head of equity research at Cholamandalam Securities.

Investors, however, stayed cautious ahead of the Federal Reserve's policy decision and uncertainty around a possible India-U.S. trade deal.

While the Fed is expected to hold rates, Chair Jerome Powell's comments on the economic and inflation outlook will be closely watched.

Higher U.S. interest rates make emerging market equities like India less attractive for foreign investors, who have been on a selling spree in India this month.

India is preparing to face higher U.S. duties — likely between 20% and 25% — on some of its exports as a temporary measure, as it holds off on fresh trade concessions ahead of Washington's August 1 deadline, two Indian government sources said.

"Until there is some clarity on what happens to the August 1, there will be caution in the market," Kant said.

Among stocks, Tata Motors fell 3.5% as news reports of its plans to buy Italian truck maker Iveco for $4.5 billion raised concerns over a potential strain to its balance sheet.

(Reporting by Vivek Kumar M; Editing by Sumana Nandy and Eileen Soreng)