Tracking weak global cues, the indices had opened lower but recovered, however, a mid-session profit booking and extended selloff in the final hour dragged Nifty below 24,550, ending near day's low.
Gold rate today: Yellow metal's October contracts on MCX opened at Rs 98,702 per 10 grams today.
Major global brokerages expect a modest impact on India’s GDP from the recently announced US tariff, with Goldman Sachs estimating a 30 bps hit on growth in 2025.
Laggards on the Nifty included Dr Reddy's, Sun Pharma, Cipla, Tata Steel, and ONGC.
India VIX rose for a second session in a row to edge towards level 12. Despite significant negative cues, volatility stayed below the psychological 13 mark, suggesting that there is no panic or broad-based liquidation in the market.
Dalal Street saw a choppy session in trade as investors weighed the impact of U.S. President Donald Trump imposing a 25 percent tariff and penalty on India.
Biggest Nifty losers were Sun Pharma, Dr Reddy's Labs, Adani Enterprises, Tata Steel, Cipla, while gainers included Trent, Asian Paints, Hero MotoCorp, HUL, Nestle. Except FMCG, all other sectoral indices ended in the red with auto, realty, pharma, IT, metal, oil & gas, PSU Bank, telecom down 0.5-2 percent. The BSE midcap index fell 1.3 percent and smallcap index shed 1.6 percent.
The rupee could risk a fall below its all-time low of 87.95 if there are no positive developments around U.S.-India trade negotiations, traders said.
The market’s muted response to Trump’s tariff salvo is telling. While the headlines scream trade war, investors seem to be betting that the real action is back home — in domestic growth, earnings, and capital flows. Even the risks, as big as they may appear, pack more drama than damage.
The last-hour selling came on monthly expiry, dragging the Nifty 50 lower. For the month of July, Sensex and Nifty lost nearly 3 percent each.
Gold rate today: Yellow metal's August contracts on MCX opened at Rs 98,106 per 10 grams today.
The benchmark indices Nifty 50 and Sensex saw a choppy session on trade on July, as investors measured the tariffs imposed by U.S. President Donald Trump.
Dalal Street recovered from early losses as investors bet on ongoing U.S.-India trade talks easing tariff fears, with FMCG stocks leading gain.
The broader markets witnessed steeper cuts of 1 percent each in today's session.
HUL, Jio Financial, Eternal, JSW Steel, ITC were among major gainers on the Nifty, while losers included Adani Enterprises, Dr Reddy's Labs, Adani Ports, Tata Steel, Sun Pharma. BSE Midcap and smallcap indices shed 0.7 percent each. Among sectors, FMCG rose 1.4 percent, while IT, metal, oil & gas, PSU Bank, pharma, realty, telecom declined 0.5-1.8 percent.
US imposes 25 per cent tariffs and penalties on India, rattling economic ties and the rupee’s fragile stability
Indian markets are expected to tumble on July 31 after U.S. President Trump imposed 25 percent tariffs and penalties on Indian exports.
Around 140 stocks touched their 52-week highs on the BSE, including Sumitomo Chemical India, Hitachi Energy, Schneider Infra, Maharashtra Scooters, EID Parry, Nuvoco Vistas, Navin Fluorine, HDFC AMC, Piramal Enterprises, Bosch, HDFC Bank, Anand Rathi, Shyam Metalics, Torrent Pharma, Laurus Labs, among others.
The India VIX slipped 1.82 percent to 11.32, indicating low volatility and reducing signs of any panic selling.
The broader market remained muted, with the smallcap index edging up 0.2 percent, while the midcap index opened slightly in the red.
Dalal Street bounced back on Tuesday, July 29, as broad-based buying lifted all sectors into the green.
On the sectoral front, media, auto, PSU Bank, realty down 0.5 percent each, while buying is seen in the IT, FMCG, consumer durables, capital goods names. L&T, Tata Consumer, NTPC, Sun Pharma, Maruti Suzuki were among major gainers on the Nifty, while losers were Tata Motors, Hero MotoCorp, Power Grid Corp, Bajaj Auto and Eternal. BSE Midcap and smallcap indices ended with marginal gains.
Gold rate today: Yellow metal's August contracts on the MCX opened at Rs 97,627 per 10 grams today.
More than 110 stocks touched their 52-week highs on the BSE, including Bosch, Torrent Pharma, Shyam Metalics, EID Parry, Laurus Labs, HDFC AMC, among others.
After a choppy start to the July 29 session, Dalal Street staged a smart recovery in trade to effectively snap a three-day losing streak.