Stock Market LIVE Updates: GIFT Nifty Signals Negative Start For Sensex, Nifty; IT, Pharma In Focus
Stock Market Live Today: The market may see a gap-down opening on Thursday following the sweeping tariff announcement of US President Donald Trump on India with an unspecified penalty. Trump, in his social media platform Truth Social, wrote that India’s high tariffs and business with Russia are “strenuous and obnoxious”. Trump on Wednesday evening announced a 25 per cent tariff on Indian goods imports from August 01, plus an additional penalty for buying items from Russia.
The export-oriented sectors, including Textiles, Pharma, Auto Components, and Seafoods, will remain in focus in today’s session.
Moreover, the Fed in its latest meeting decided to hold the rates steady for the fifth time.
GIFT Nifty is signalling a gap-down start (-175 pts at 24,679), as sentiment sours on the back of Trump’s 25% tariff imposition on Indian goods, the Fed’s decision to hold rates steady despite pressure, and relentless FII selling, argues Prashanth Tapse, Senior VP (Research), Mehta Equities.
He added Nifty remains under bear grip below the 25,100 mark, with key support at 24,473 and strength only above 25,421; Bank Nifty’s make-or-break support lies at 55,200.
