Share Market News: Trump’s Tariff Announcement, US Fed Announcement, Gold Rate, Crude Oil Price And More

The Indian market is expected to factor in several global and domestic cues on July 31. These cues include US President Donald Trump’s announcement regarding the imposition of trade tariffs on India, the US Federal Reserve chair Jerome Powell’s commentary and other factors such as fluctuations in commodity prices. Additionally domestic factors such as the announcement of June quarter results are also expected to affect trade on D-street.

Earlier on July 30 the headline indices extended gains for the second straight day. The Nifty 50 finished the session at 24,855.05 up by 33.95 points or 0.14 per cent. On the other hand the Sensex closed the session at 81,481.86 up by 143.91 points or 0.18 per cent.

Trump’s Tariff Imposition

US President Donald Trump has announced the levy of 25 per cent tariffs on India starting August 1. The US President also said that India will also have to pay an additional penalty for purchasing arms and energy from Russia. Notably the 25 per cent tariff rate is one per cent lower than the 26 per cent tariffs announced earlier by Trump on April 2.

US Federal Reserve Rates Unchanged

The US Federal Reserve continued to keep lending rates unchanged despite pressure from US President Donald Trump to announce a rate cut. The demand for a rate cut comes amid improvement in the US economy with the growth coming in at a higher than-expected 3 per cent annual rate in the second quarter.

Crude Oil Prices On July 31

Crude oil prices eased in the early hours of July 31 with West Texas Intermediate trading at $69.97 down by $0.03 or 0.4 per cent. Brent Crude prices also eased to $73.12 down by $0.12 or 0.16 per cent on July 31.

Gold Prices Today

Gold prices traded close to their all time high, the price of one gram of 24 karat gold remained around Rs 10,049 on July 31. The price of 22 karat gold remained around Rs 9,211 per gram and the price of 18 karat gold was around Rs 7,537 per gram on July 31.

Q1 Results On July 31

D-street is expected to factor in the June quarter results announced by several companies such as Hindustan Unilever, Maruti Suzuki India, Coal India, Eicher Motors, Sun Pharmaceutical Industries, Adani Enterprises Ambuja Cements, Swiggy, PB Fintech, One Mobikwik Systems, TVS Motor Company, Vedanta, Aarti Industries, Chalet Hotels, Chambal Fertilisers & Chemicals, Cholamandalam Investment and Finance Company, Dabur India, Emami, ICRA, Indegene. JSW Energy, Dr Lal PathLabs, Mankind Pharma, R R Kabel, Skipper, TeamLease Services, and Thermax.

US Markets End Mixed

Wall Street indices finished mixed on July 30 as the Dow Jones Industrial Average and the S&P 500 closed lower by 0.38 per cent and 0.12 per cent respectively. However the Nasdaq Composite finished the session higher by 0.15 per cent.

Asian Indices Trade Mixed On July 31

Asian indices opened higher on July 31. After opening higher most Asian indices slipped into the red zone. However the Nikkei 225 index continued to trade in the green at the time of writing as it traded at 41,003 up by 348.3 points or 0.86 per cent. On the other hand other Asian indices such as the Hang Seng, the KOSPI and the Shanghai Composite traded lower by 1.25 per cent, 0.47 per cent and 0.68 per cent respectively.