Stock Market Updates: GIFT Nifty Down 100 Points; Asian Stocks Plunge | Markets News
Last Updated:
Domestic equities are set for a turbulent start on Friday after US President Donald Trump announced a fresh round of tariffs on multiple countries
Stock Market Today
Sensex Today: Domestic equities are set for a turbulent start on Friday after US President Donald Trump announced a fresh round of tariffs on multiple countries, just a day ahead of the deadline.
The latest measures include a base levy of 10% and higher rates of 15% or more for nations with trade surpluses with the US. Canada has been hit with a steep 35% tariff, while Mexico’s tariff implementation has been delayed by 90 days. The new rates will take effect after midnight on August 7.
This move comes a day after Trump imposed a 25% levy on Indian goods and warned of additional penalties over India’s imports of Russian energy. Despite the pressure, New Delhi has maintained its stance on continuing trade ties with Moscow, opting for negotiations over retaliatory measures.
Analysts remain cautiously optimistic, suggesting that the final tariff could settle in the 15–20% range if ongoing negotiations yield a compromise.
Early market indicators reflect the nervousness. GIFT Nifty was down 0.6%, signaling a weak start for domestic benchmarks. On Thursday, the Nifty and Sensex recovered most of their early losses after falling nearly 1% during the opening trade.
Global Cues
Asian markets extended their longest losing streak of the year following Trump’s tariff announcement. The MSCI Asia Pacific Index slipped 0.55%, led by a sharp 2.5% drop in South Korea’s Kospi. Asian currencies are also expected to remain under pressure on Friday.
Overnight on Wall Street, stocks ended lower despite strong earnings from major technology companies. The S&P 500 fell 0.37%, while the Nasdaq inched down 0.03%. Notably, Microsoft Corp briefly crossed a market capitalization of $4 trillion.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
view comments
Read More
