On Tuesday, August 26, Indian equity benchmarks, Sensex and Nifty 50, are expected to open lower, following weak global market cues ahead of the US tariffs deadline on Indian goods.
The 50% Trump tariff will come into effect this August 27th.
As of 7:07 AM, the GIFT Nifty was trading near 24,928, down 65 points from its previous close.
Asian markets traded lower, while the US stock market slipped overnight, with the Nikkei 225 of Japan down over 1%.
The Foreign Institutional Investors (FIIs) were net sellers on Monday, while DIIs again started buying.
On Monday, August 25, Foreign Institutional Investors (FIIs) were net sellers. FIIs sold equities worth ₹2,466.24 crore.
Domestic Institutional Investors (DIIs) were buyers on Monday. They bought shares worth ₹3,176.69 crore on the same day.
The week began on a strong note for equities, with the Nifty 50 closing at 24,967.75, marking a rise of 0.39%. In contrast, the Bank Nifty settled almost unchanged at 55,139.30.
Sector-wise, IT stocks led the rally, while Realty and Consumer Durables added further support to the markets. Meanwhile, broader indices such as mid-caps and small-caps finished flat to slightly higher.
On Monday, US markets ended in the red as traders weighed the outlook for interest rates and looked ahead to Nvidia’s quarterly earnings after last week’s rally that lifted the Dow Jones Industrial Average to a record close.
US stocks ended lower on Monday as the Dow Jones Industrial Average declined 0.77% to 45,282.47, the S&P 500 fell 0.43% to 6,439.32, and the Nasdaq slipped 0.22% to 21,449.29.
US President Donald Trump dismissed Federal Reserve Governor Lisa Cook on Monday, citing allegations of misconduct related to mortgage borrowing. He claimed there was adequate proof that Cook misrepresented information on mortgage applications.
On trade, Trump stated that unless China supplies magnets to the US, Washington may impose tariffs of up to 200%. The remarks come as China has grown more protective of its rare earth resources, having already expanded export restrictions on certain rare earth products and magnets in April as a countermeasure to US tariff hikes.
Trump also warned that countries enforcing digital taxes on American firms could face additional tariffs on their exports to the United States if such measures are not withdrawn.
US housing data showed a slowdown in July. Sales of new single-family homes fell 0.6% to an annualised 6,52,000 units. June’s figures were revised upward to 6,56,000 units from the previously reported 6,27,000.
The US dollar surrendered gains in early trading in Asia on Tuesday after US President Donald Trump said he was removing Federal Reserve Governor Lisa Cook from her position for allegedly committing mortgage fraud.
The dollar index fell 0.3% to 98.187 after Trump made the announcement. The pullback came after the US currency had registered its biggest daily gain of the month on Monday.
Gold falls in early Asian trade on possible profit-taking. Spot gold was 0.4% lower at $3,353.14/oz.
Brent crude oil futures fell to $68.4 per barrel and WTI crude oil futures fell to $64.4 per barrel on Tuesday after a nearly 2% gain in the prior session that lifted prices to their highest level in almost three weeks.
Disclaimer: The article is for informational purposes only and not investment advice.
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