India's equity benchmarks likely to open flat in line with Asian peers

India's equity benchmarks are likely to open little changed, tracking other Asian markets, as investors continue to monitor global trade tariff uncertainty.

The Gift Nifty futures (GIFc1) were trading at 25,186 points, as of 8:13 a.m. IST, indicating that the Nifty 50 NIFTY will open around Friday's close of 25,149.85.

MSCI's broadest index for Asia-Pacific stocks outside Japan (.MIAPJ0000PUS) was trading flat on the day.

U.S. President Donald Trump on Saturday said he would impose a 30% tariff on most imports from the European Union and Mexico from August 1, even as they are locked in long negotiations.

Indian equity benchmarks fell about 1.2% last week, weighed down by uncertainty over a potential U.S. trade deal and weak earnings from India's top software exporter Tata Consultancy Services TCS.

Investors will remain focused on earnings season with HCL Technologies HCLTECH, Ola Electric Mobility OLAELEC, Tata Technologies TATATECH, and other companies scheduled to report their numbers on the day.

Meanwhile, sources told Reuters that U.S.-based Jane Street has deposited $567 million in an escrow account as per India regulatory directive, but one of the sources said the trading firm does not intend to start trading in the Indian options market.

Jane Street did not immediately respond to a Reuters email seeking confirmation of the news.

The markets regulator's ban on Wall Street trading giant Jane Street had squeezed volumes in the country's options market last week and hit shares of exchange operator BSE BSE and broking firms.

STOCKS TO WATCH

** Supermarket chain operator Avenue Supermarts DMART reports a small decline in first-quarter profit, as higher operating costs and rising competition from quick commerce players eat into margins

** VIP Industries VIPIND says Chairman Dilip Piramal and his family enter in an agreement with the Multiples Consortium to sell up to 32% stake in the company, triggering an open offer

** NCC NCC wins 22.69 billion rupees ($264.36 million) order from Mumbai Metropolitan Region Development Authority

($1 = 85.8300 Indian rupees)