Stock Market News: Sensex Adds 80 Points, Nifty Above 24,500 As Trump Tariffs Fail To Rattle D-Street

The headline indices finished a two-day losing streak on August 7. The headline indices finished higher despite US President Donald Trump’s tariff threat. On August 6, US President Donald Trump announced the levy of an additional 25 per cent tariff on Indian goods apart from the 25 per cent duty announced previously, taking the total tariffs to as much as 50 per cent for select products.

The BSE Sensex index closed at 80,623.26 with marginal gains of 79.27 points or 0.1 per cent. On the other hand, the Nifty 50 closed the session up by 21.95 points or 0.09 per cent at 24,596.15.

Hero Motocorp And Tech Mahindra Lead the Gainers

Shares of Hero MotoCorp and Tech Mahindra led the gainers among the Nifty 50 pack as they closed higher by 4.27 per cent and 1.99 per cent on the NSE, respectively. Other major gainers included JSW Steel and Eternal Ltd, which finished the session higher by 1.94 per cent and 1.46 per cent, respectively. On the other hand, shares of Adani Enterprises, Adani Ports and Special Economic Zone Ltd closed lower by as much as 2.36 per cent. As many as 19 stocks out of the Nifty 50 pack finished the session in the red while 31 finished in the green.

Nifty IT and Nifty Pharma

The Nifty IT and the Nifty Pharma indices emerged as top-gainers, closing higher by 0.75 per cent and 0.87 per cent, respectively. On the other hand, the Nifty Oil & Gas and Nifty Realty emerged as top losers among the sectoral pack, finishing 0.19 per cent and 0.13 per cent, respectively. The broader market indices also saw a recovery on August 7 as the Nifty MidCap 100 and the Nifty SmallCap 100 finished the session with gains of 0.33 per cent and 0.17 per cent, respectively.

Global Markets on August 7

Asian markets traded with exuberance on August 7 as the Nikkei 225, Hang Seng, KOSPI and Shanghai Composite finished higher by as much as 0.92 per cent. The US markets also finished in the green on August 6 with the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 gaining as much as 1.21 per cent at the close.

Primary Market Action On August 7

Shares of Renol Polychem Ltd and Cash Ur Drive Marketing Ltd made their D-street debut on August 7. On the other hand four issues opened for subscription, these included Sawaliya Foods Products IPO, JSW Cement IPO, Connplex Cinemas IPO and All Time Plastics IPO.

Market Cues

D-Street is likely to continue to look forward to the announcement of trade-related negotiations between India and the US.