Sensex Falls 296 Points On Tariff Worries; Nifty Closes Below 24,800

RTTNews | 3 dni temu

(RTTNews) - Indian shares fluctuated before ending lower on Thursday as U.S. President Donald Trump imposed a 25 percent tariff on India starting August 1, along with an additional unspecified penalty for buying oil and defense equipment from Russia.

Analysts said the move will hurt a spate of sectors — from makers of electronics and generic drugs to jewelry and auto component firms.

Trump also criticized India-Russia ties, announced a Pakistan oil deal and imposed sanctions on six Indian companies for importing oil and petrochemical products from Iran, potentially derailing ongoing trade negotiations.

Trump said he does not care about India's trade dealings with Russia and that the two "can take their dead economies down together".

The Indian government has released a statement saying that it will put national interest first in finalizing any trade agreement.

"The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs. The government will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the U.K.," according to a statement from the ministry of commerce & industry.

The benchmark BSE Sensex fluctuated before ending the session down 296.28 points, or 0.36 percent, at 81,185.58 while the broader NSE Nifty index closed at 24,768.35, down 86.70 points, or 0.35 percent, from its previous close.

The BSE mid-cap and small-cap indexes fell 0.7 percent and 0.9 percent, respectively. The market breadth was weak on the BSE, with 2,414 shares declining while 1,599 shares advanced and 140 shares closed unchanged.

Among the prominent decliners, Larsen & Toubro, Asian Paints, NTPC, Reliance Industries, Adani Ports, Sun Pharma and Tata Steel lost 1-2 percent.

FMCG stocks saw defensive buying, with Hindustan Unilever rallying 3.5 percent and ITC rising 1 percent.

Japan Monetary Base Data Due On Monday

Japan will on Monday release July figures for monetary base, highlighting a very light day for Asia-Pacific economic activity. In June, the base was down 3.3 percent on year.

RTTNews | 49 minut temu

U.S. Dollar Falls As Weak Jobs Data Lifts Rate Cut Hopes

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as weaker-than-expected jobs data for July strengthened expectations of a Fed rate cut in September.

RTTNews | 2 dni temu

European Stocks Close Sharply Lower As Trump's Tariff Move Hurts Sentiment

European stocks tumbled on Friday, recording one of their worst sessions in several months, as sweeping fresh tariffs announced by U.S. President Donald Trump raised fears of a global economic slowdown, prompting investors to press selling across the board.

RTTNews | 2 dni temu

Canadian Market Remains Firmly Down In Negative Territory On Tariff Worries

The Canadian market got off to a weak start Friday morning and slipped deeper into the red subsequently, as U.S. President Donald Trump's sweeping tariff announcement rendered the mood bearish.

RTTNews | 2 dni temu

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.

RTTNews | 2 dni temu

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.

RTTNews | 2 dni temu

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.

RTTNews | 2 dni temu

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.

RTTNews | 2 dni temu

EURUSD	1.15803	GBPUSD	1.32758	AUDUSD	0.64647
USDJPY	147.267	USDCAD	1.37833	USDCHF	0.80436

Advertisement

Sensex Falls 296 Points On Tariff Worries; Nifty Closes Below 24,800