Stock Market Live Updates: The GIFT Nifty is trading with a discount of 73 points, after US President Donald Trump announced that he will be increasing the tariff rate on India to 50% from 25%, part of which takes effect from today. It also the weekly options expiry session for the index today, amidst a host of earnings reactions and results to be reported like Titan, LIC, Biocon, GCPL and HPCL. Watch this space for all the live updates.
Stock Market Live Updates: Today is the weekly options expiry of the Nifty 50 contracts. Over the last two sessions, the Nifty has given up everything that it had gained during Monday’s trade. More levels on the downside could be tested today after US President Donald Trump signed an Executive Order to impose another 25% tariff on Indian exports, taking the total to 50%.
The first 25% takes effect today, while the other half will be effective in three weeks from now. For the Nifty, the August 1 swing low of 24,535, followed by the June 13 low of 24,473, are likely to be tested, followed by the May 12 low of 24,378. The GIFT Nifty fell 200 points after the announcement.
Earnings season, at the fag end for the quarter, will bring reactions from stocks like Trent, Hero MotoCorp, BHEL, HUDCO and Sula Vineyards, while Titan, LIC, Biocon, GCPL and HPCL are some of the major companies reporting results today.
The tariff announcement will yet again bring textile stocks like Gokaldas Exports and peers back in the spotlight, which have declined up to 20% over the last week.
Watch this space for all the Live updates.