On Thursday, August 7, Gift Nifty indicated a negative start for the benchmark Nifty after US President Donald Trump imposed an additional 25% tariff on Indian imports due to continued Russian oil purchases, raising total tariffs to 50%.
This move, effective from August 27, 2025, after a 21-day grace period, puts Indian exports at a disadvantage.
As of 7:25 AM, the GIFT Nifty was trading near the 24,598 mark, down 32 points from its previous close.
Asian markets were mostly higher, while US markets closed on a positive note, supported by gains in the Nasdaq.
Back home, Indian equities declined on Wednesday after the Reserve Bank of India’s Monetary Policy Committee (MPC) opted to keep the repo rate steady and retained a ‘Neutral’ policy stance.
Upcoming earnings reports from key companies are expected to influence stock-specific movements.
Life Insurance Corporation of India, Titan Company, Solar Industries India, Godrej Consumer Products, Cummins India, BSE Limited, Hindustan Petroleum Corporation, General Insurance Corporation of India, Kalyan Jewellers India, Linde India, Page Industries, Max Financial Services, Biocon will announce their Q1 earnings today.
On Wednesday, August 6, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth ₹4,999.10 crore, marking a streak of 12 consecutive trading sessions of selling. In contrast, Domestic Institutional Investors (DIIs) purchased shares worth ₹6,794.28 crore during the same session, extending their buying streak to 22 consecutive trading sessions.
The Sensex declined by 166.26 points to end at 80,543.99, while the Nifty dropped 75.35 points, closing at 24,574.20. Market sentiment also took a hit after the US President Donald Trump reiterated his warning about imposing higher tariffs on India.
U.S. stocks closed on a positive note Wednesday, with the Nasdaq leading the gains with an increase of over 1%. The Dow Jones Industrial Average rose by 81.38 points, or 0.18%, to finish at 44,193.12. The S&P 500 added 45.87 points, up 0.73%, settling at 6,345.06. Meanwhile, the Nasdaq Composite advanced 252.87 points, gaining 1.21% to end the session at 21,169.42.
US President Donald Trump has announced an additional 25% tariff on Indian, citing India’s continued purchases of Russian crude oil as the reason. This raises the total tariff burden on Indian goods to 50%—posing a significant challenge to India’s export competitiveness.
Gold is steady in the early Asian session as traders assess geopolitical and tariff developments. On the one hand, President Trump said there was a "good chance" he would meet soon with Russian President Putin about the war in Ukraine, which might reduce the precious metal's safe-haven appeal. Spot gold is 0.1% higher at $3,368.47/oz.
Brent crude oil futures rose above $67 per barrel and WTI crude oil futures rose toward $65 per barrel on Thursday, halting a five-day losing streak after briefly touching a two-month low, as geopolitical tensions and their impact on supply remained in focus.
Disclaimer: The article is for informational purposes only and not investment advice.
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