Here are the factors and macroeconomic trends that are likely to influence the action on D-Street on July 8
Stock Market Today: Domestic equities closed nearly at unchanged levels on Monday amid renewed trade tensions and the expected delay in the India-US trade deal. This added adding short-term uncertainty, which led investors to assume a cautious approach.
The Sensex gained 9.61 points, or 0.01 per cent, to close at 83,442.50, while the Nifty 50 settled 0.30 points higher at 25,461.30.
Foreign Portfolio Investors (FPIs) turned net buyers on July 7 after three straight session of losses, buying Rs 691.97 worth of equities. Domestic Institutional Investors (DIIs) also were net buyers by the end of the day, buying equities worth Rs 1,853.39 crore.
Here’s what to expect from the market today.
As the July 9 tariff pause deadline nears, India has made it clear that certain issues, especially in agriculture and dairy, are non-negotiable. Indian officials say the ball is now in the US's court to finalize the agreement. At the same time, US President Donald Trump has warned of an additional 10% tariff on goods from any country supporting what he called BRICS' "anti-American policies."
His statement came after BRICS released a joint statement, expressing concern about the unfair trade practices, including high tariffs, that go against World Trade Organization (WTO) rules.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments, said, "The announcement of unilateral tariffs on 14 countries and the exclusion of India from the list along with President Trump’s remark that ‘we are close to a deal with India’ indicate that a trade deal between India and US will be announced soon.”
US President Donald Trump has officially notified key trading partners, including Japan, South Korea, and smaller exporters like Serbia and Thailand, that sharply higher tariffs will take effect on August 1. In letters shared on his Truth Social platform, Trump warned that any tariff hikes from these countries would trigger an equal retaliatory response.
Trump also extended the negotiation deadline to August 1, giving countries a little more time to reach a deal.
A total of five companies listed on the BSE are set to announce their first quarter results for the current fiscal year.
Brokerage firm 5Paisa Capital among four others are set to announce their Q1 results today.
Asian markets were trading mixed in early trade today.
Hong Kong-based Hang Seng was up by nearly 0.8 per cent, China's SSE Composite was trading higher by 0.6 per cent. Japan and South Korea's markets were also trading higher, with the Nikkei 225 up by 0.3 per cent, and the KOSPI was up by 1.2 per cent
US stock indices closed lower on Monday after Trump announced a series of tariffs on its trading partners, which is set to take effect on August 1.
The Dow Jones Industrial Average fell 422.17 points, or 0.94 per cent tot close at 44,406.36. The S&P 500 lost 49.37 points, or 0.7 per cent to finish at 6,229.98, while the trech-heavy Nasdaq Composite fell 188.59 points, or 0.91 per cent to settle at 20,412.52.