Trump Is Getting The World Economy He Wants — But The Risk To Growth Could Spoil His Victory Lap
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Hans India
5 minutes ago
- Hans India
Indian markets dip marginally this week amid tariff concerns
Mumbai: The Indian benchmark index Sensex plunged over 600 points this week, while the Nifty fell to a two-month low, closing below the 24,600 mark amid widespread selling across sectors. Market sentiment was weighed down by concerns over the newly imposed 25 per cent US tariff on Indian exports, persistent FII selling, and weakness in global markets, analysts said on Saturday. "The market oscillated between cautious optimism and defensive positioning, ultimately ending lower due to a persistent FII outflow. With global headwinds, investors showed a preference for domestically driven stories with non-discretionary appeal, as broader sentiment turned selective. FMCG stocks stood out, benefiting from attractive valuations and insulation from external shocks," said Vinod Nair, Head of Research, Geojit Investments Limited. FMCG stocks rallied sharply after companies like HUL, Dabur India, and Emami reported strong Q1 results, pushing the Nifty FMCG Index up nearly 1 per cent. Key sectors such as auto, metal, IT, and pharma declined 2–3 per cent amid concerns over the U.S. trade action. Analysts said that the US tariffs will not have a direct bearing on Indian markets, given that major exports are of traditional items such as gems & jewellery, leather and textiles that do not have large representation in the listed space. They feel the bulk of the tariff concerns may already be priced in, and a steep fall is highly unlikely. The Nifty index formed a bearish candle on the daily and weekly timeframes and has been making lower lows for the past four weeks. If it remains below 24600 zones, weakness could be seen towards 24,442 and 24,250 zones, with hurdles shifting lower to 24800 and 24950 zones, according to analysts at Motilal Oswal. During the week shares of tech major Tata Consultancy Services (TCS) slipped 5 per cent, following the company's announcement to lay off around 12,200 employees in FY26. Asian, European, and US index futures dropped around 1 per cent after President Trump signed an executive order introducing 'reciprocal' tariffs on multiple countries, with rates ranging from 10 per cent to 41 per cent, set to take effect in seven days. The move has sparked fears of rising inflation and slowing global growth. Amid such widespread concerns of global slowdown, the International Monetary Fund's July update to its World Economic Outlook raised the global growth forecast for 2025 to 3 percent, which is a 0.2 percentage point increase from its April projection.
News18
5 minutes ago
- News18
Trump Urges India to Halt Russian Oil Purchases, India Stands Firm on Energy Sovereignty
Trump Urges India to Halt Russian Oil Purchases, India Stands Firm on Energy Sovereignty | News18 Last Updated: India Videos | US President Donald Trump on Saturday said that India has reportedly halted the purchase of Russian oil and called it a 'good step" if it turns out to be true. Mobile App -
Indian Express
5 minutes ago
- Indian Express
Donald Trump says Diddy was ‘hostile' toward him; says rapper's team asked for a pardon but he likely won't grant it
Donald Trump likely won't pardon Sean 'Diddy' Combs, and it might have less to do with the charges the rapper faces and more with a friendship that didn't survive Trump's first term as POTUS. In a recent conversation with Newsmax's Rob Finnerty, the POTUS talked about plans to release the Epstein files and hinted that a pardon for the disgraced music mogul, who's awaiting his October sentencing, isn't looking likely. Trump, while speaking about the possibility of granting clemency to Ghislaine Maxwell, Epstein's longtime associate, said no one has actually asked him to do it. He added that even though he's allowed to, he isn't fully aware of the case. The host then pressed him about offering the same to Bad Boy Records founder, who's currently locked inside Brooklyn's Metropolitan Detention Centre, especially since Trump had previously floated the idea of a pardon. Also read: Donald Trump risks losing more women voters if he pardons Diddy, can spark 'another Epstein-like situation' The Republican leader called the outcome of Diddy's trial 'sort of half innocent' and admitted he's still undecided. He confirmed that Diddy's lawyer has reached out to him about a possible pardon. This comes after the July verdict, where the music mogul was convicted on two prostitution-related charges but acquitted of sex trafficking and racketeering. And while he dodged the more serious accusations, Judge Arun Subramanian denied him bail, and prosecutors believe that if sentenced, he could be facing a minimum of 20 years in jail. Speaking about their personal history, Trump said they used to get along 'very well' and even called Diddy 'a nice guy,' but admitted that things broke down once he ran for office. 'Probably, you know, I was very friendly with him. I got along with him great, and he seemed like a nice guy. I didn't know him well, but when I ran for office, he was very hostile,' Donald Trump said. He added that this kind of thing does affect how decisions are made. 'It's hard, you know, like, we're human beings, and we don't like to have things cloud our judgment, right? But when you knew someone and you were fine, and then you run for office, and he made some terrible statements – so, I don't know, it's more difficult.' When the interviewer asked him again if he was probably not going to pardon Combs, Trump replied: 'I would say so.' Also read: Trump says nobody has asked him to grant clemency to Ghislaine Maxwell In the latter part of the interview, Trump, who's been facing criticism from inside his own MAGA circle for holding back controversial details about Jeffrey Epstein, told Finnerty he's all in for making the Epstein records public, but only if it doesn't hurt innocent people. 'I want to release everything,' Trump said. 'I just don't want people to get hurt.' The comment came just a week after Deputy Attorney General Todd Blanche interviewed Ghislaine Maxwell for nearly nine hours at a Florida jail, after which she was moved to a minimum-security facility in Texas. Trump said he wasn't directly involved in the interview and doesn't know if that transcript will ever see the light of day.
