At 9:30 am, the BSE Sensex up 56 points, or 0.07%, at 83,499, while the Nifty50 rose 17 points, or 0.07%, to 25,478.
On Monday, President Trump announced that higher U.S. tariffs will take effect from August 1, marking a new phase in the trade war launched earlier this year. He imposed a 25% levy on key Asian allies, including Japan and South Korea, while stating that the U.S. was close to finalising a trade deal with India.
The proposed tariffs are expected to push up prices and slow economic growth. However, the greater concern for businesses may be the uncertainty around final policy outcomes, which is causing many to delay key decisions.
Wall Street slid, with the S&P 500 Index logging its biggest drop in three weeks. Asian markets were mixed on the day, with MSCI’s broadest index for Asia-Pacific stocks outside Japan down 0.1%.
In April, President Trump capped all reciprocal tariffs with trading partners at 10% until July 9 to allow time for negotiations. So far, only two deals—one with Britain and another with Vietnam—have been finalised.Meanwhile, in the Sensex pack, Kotak Mahindra Bank, Eternal, Tata Motors, BEL, NTPC, and Adani Ports were among the top gainers, rising up to 4.2%. On the other hand, Titan, HCLTech, M&M, and Bharti Airtel opened in the red.Kotak Mahindra Bank gained over 4% after the bank reported a 14% year-on-year rise in net advances as of June 30, while average total deposits increased by 12.9%.
Titan Company shares slid nearly 5% despite reporting a 19% YoY increase in domestic sales for the first quarter, driven by higher gold prices—surpassing the 9.3% growth recorded in the same period last year.
On the sectoral front, Nifty Bank rose 0.35%, while Metal gained 0.25%. Nifty IT, FMCG, and Oil & Gas also opened in positive territory. In the broader market, the Nifty Smallcap100 surged 0.4%, and the Nifty Midcap100 added 0.1%.
