Share Market Today 1 August: On Friday morning, Indian stock markets remained strained as US President Donald Trump enacted an executive order to impose 25 percent tariffs on Indian exports to the US, starting August 7.
The move has raised concerns about India's export outlook, as the US is one of the country's largest export destinations. The fresh round of tariffs has sparked fears that Indian products will become more expensive in the US market, making them less competitive compared to goods from other countries, potentially denting demand.
At the opening bell, the Nifty 50 index dipped by 33.45 points or 0.14 per cent to 24,734.90, while the BSE Sensex fell by 111.17 points or 0.14 per cent to 81,074.41.
Top Gainers and Top Losers
With the fall in the stock market, HUL, Asian Paints, Kotak Mahindra Bank, ITC, Bajaj Finance, Bajaj Finserv, UltraTech Cement and ICICI Bank were the top gainers in the Sensex. Sun Pharma, M&M, Tata Steel, Tata Motors, Power Grid, Infosys, Tech Mahindra and Maruti Suzuki were the top losers.
Decline in Midcap Smallcap
Midcap and Smallcap are also trading in the red. Nifty Midcap 100 index was down 343 points or 0.60 percent at 57.056 and Nifty Smallcap 100 index was down 109 points or 0.61 percent at 17.856.
Among the sectoral indices on NSE, all major indices opened in the red except Nifty FMCG, indicating broad-based selling pressure. Nifty IT fell 0.51 per cent, Nifty Metal slipped 0.43 per cent, Nifty Pharma declined 1.16 per cent, and Nifty PSU Bank was down by 0.30 per cent.
Bank Nifty also showed weakness and is struggling to sustain above the 56,100 mark. Experts suggest it may fall to 55,500 if it breaks below 55,700.
Several major companies including, ITC, Adani Power, The Tata Power Company, Godrej Properties, UPL, Tube Investments of India Ltd, Multi Commodity Exchange of India, LIC Housing Finance, and Delhi very are set to announce their quarterly earnings today.
Asia markets fall
Other Asian markets also opened weak. Japan's Nikkei 225 was down by 0.23 per cent, Hong Kong's Hang Seng index declined by 0.43 per cent, and Taiwan's weighted index was also in the red at the time of filing this report.
As per the executive order, apart from India's 25 per cent tariff, the US has also imposed tariffs on other countries: Indonesia (19 per cent), Japan (15 per cent), Myanmar (40 per cent), New Zealand (15 per cent), Pakistan (19 per cent), Philippines (19 per cent), South Africa (30 per cent), South Korea (15 per cent), and Sri Lanka (20 per cent). (ANI)
PNB Housing Finance Ltd
The stock of PNB Housing company has registered a huge decline. Let us tell you that the stock of this company has registered a decline of 15.84 percent and the stock of the company has reached Rs 829.95.
Suzlon Energy Ltd
Suzlon's stock has registered a jump. Let us tell you that the stock of this company has registered a jump of 4.76 percent and the stock of the company has reached Rs 64.53.
Sun Pharmaceutical Industries Ltd
Stock of Sun Pharmaceutical company has registered a decline. Let us tell you that the stock of this company has registered a decline of 3.52 percent and the stock of the company has reached Rs 1,646.
Coal India Ltd
Shares of Coal Company have registered a decline. Let us tell you that the shares of this company have registered a decline of 0.33 percent and the company's shares have reached Rs 375.10.
Adani Enterprises Ltd
Adani company's stock has registered a decline. Let us tell you that the stock of this company has registered a decline of 0.21 percent and the company's stock has reached Rs 2,425.50.
JSW Energy Ltd
Stock of JSW company has registered a jump. Let us tell you that the stock of this company has registered a jump of 0.74 percent and the stock of the company has reached Rs 518.85.