Sensex | Stock Market Today Live: US President Donald Trump announced on Wednesday evening that the US will impose 25% tariffs on goods imported from India "plus an unspecified penalty" for buying Russian oil and weapons. Trump, who said that India was a “friend” whose "tariffs are far too high," posted this announcement on his Truth Social platform, saying that the measures would take effect from 1 August, the deadline for the India-US trade deal. The US president also hit out at India for purchasing Russian military equipment and energy "when everyone wants Russia to STOP THE KILLING IN UKRAINE".
India Response to US Tariff:
India has issued a calculated response to the Trump announcement, saying, “The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs.” “The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK,” the statement said.
What are Tariffs?
Tariffs are taxes charged on goods imported from other countries. Trump has on several occasions targetted India over “high tariffs,” calling it a "tariff king." The two nations have been negotiating over the India-US deal since April this year. Trump slaps Canada with a 35% tariff—up from 25%—excluding USMCA-protected goods. A bold move against a close ally. What’s behind the surprise hike? Listen in.
Stock To Watch Today Live
The Nifty is poised for a volatile monthly expiry session yesterday, overshadowed by US President Donald Trump's announcement of a 25% tariff on Indian goods from August 1, alongside an unspecified penalty for purchases from Russia, which is expected to significantly impact export-oriented sectors like Textiles, Pharma, Auto Components, and Shrimp.
Cues This Morning(1 August):
- Nifty Energy snapped a 2-session gaining streak, with CESC and MGL leading losses
- Nifty PSU Bank, Realty, and Auto declined for the 2nd straight session
- Nifty IT also snapped a 2-session winning streak, led lower by OFSS and Wipro
- Dow Jones fell 330 points, marking its 4th straight loss
- S&P 500 ended down 0.37%, 3rd consecutive decline
- Nasdaq closed nearly flat, down 0.03%
- European Markets: DAX down 0.8%; FTSE 100 ended flat; CAC 40 down over 1%
- Asia Pacific Markets: KOSPI down 2.9%; Hang Seng ended flat; Nikkei 225 down 0.4%
- Dollar Index at 99.9
- Gold down to $1,936/oz
- Nifty closed below the 24,800 mark, snapping a 2-session gaining streak, dragged mainly by Adani Enterprises and Tata Steel
- Nifty Bank closed below the 56,000 mark, declining for the 2nd consecutive session, led by losses in PNB and Federal Bank
- Nifty Smallcap and Midcap indices declined for the 2nd straight session
- All major sectoral indices ended in the red except Nifty FMCG
- Nifty FMCG was the top sectoral gainer, up 1.5%, advancing for the 4th straight session, led by Emami and Godrej Consumer
- Nifty Pharma was the top sectoral loser, snapping a 6-session winning streak, dragged by IPCA Labs and Granules India
- Nifty Metal declined for the 2nd straight session, pulled down by Hindustan Copper and Adani Ent
Posted from: 0001-01-01 00:00:00Z2025-08-01 03:26:33Z[]this blog via Microsoft Power Automate.
