Overview
- The S&P 500 and Nasdaq Composite closed at fresh highs on July 21 after U.S. Commerce Secretary Howard Lutnick signaled confidence in an EU trade deal ahead of the August 1 tariff deadline.
- Gold reached a five-week peak and the yen strengthened following Japan’s upper-house elections as Treasury yields eased at the start of a busy earnings week.
- Treasury Secretary Scott Bessent’s remarks on reviewing Federal Reserve autonomy added to policy uncertainty among investors.
- India’s BSE Sensex jumped 442 points to finish above 82,200 and the NSE Nifty topped 25,000 led by a 15.9% profit rise at ICICI Bank and resilient results at HDFC Bank.
- Foreign institutional investors sold ₹1,681 crore in Indian equities on Monday, offset by ₹3,578 crore of buying from domestic institutions