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Business Standard
18 minutes ago
- Business Standard
Rupee slips on Trump's additional 10% Brics tariff; opens lower at 85.57/$
The Indian Rupee fell on Monday as US President Donald Trump threatened to impose an additional 10 per cent on countries aligning with Brics policies. The domestic currency opened 18 paise lower at 85.57 against the dollar on Monday, according to Bloomberg. All Asian currencies traded in the red with Thai Baht leading the fall, as caution loomed over the US reciprocal tariff deadline. The currency has appreciated 0.17 per cent so far this month, after having fallen 0.18 per cent in the first six months of the calendar year. President Trump, on Monday, threatened to levy an additional 10 per cent tariff on any country aligning itself with 'the Anti-American policies of BRICS,' fueling more uncertainty in the markets. 'Any country aligning themselves with the Anti-American policies of BRICS will be charged an ADDITIONAL 10 per cent Tariff,' Trump said in a Truth Social post. 'There will be no exceptions to this policy.' The group's leaders, over the weekend, agreed to continue talks on a cross-border payment system for trade and investments, according to a Bloomberg report. Trump had previously threatened to slap 100 per cent levies on Brics in case they drop the dollar in bilateral trade. Meanwhile, Treasury Secretary Scott Bessent told CNN that several major agreements are nearing completion, according to reports. As others remain out of reach, he added that some deals may include a three-week extension option. However, India and the US are likely to take a final decision on the 'mini trade deal' in the next 24-48 hours, as per media reports. The Indian Rupee has remained range-bound over the past few days, trading between 85.30 and 85.60, analysts said. Nationalised banks have been buying dollars on dips, while exporters and other inflows have been selling on upticks, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Exporters are awaiting a move towards 86 to hedge, while importers are eyeing 85, he said. "In the meantime, market participants can cover their daily and weekly requirements. Today's opening is around 85.50, with an expected range of 85.30–85.80."
News18
25 minutes ago
- News18
Stock Market Updates: GIFT Nifty Hints Muted Start; Trump Shifts Tariff Deadline To Aug 1
Last Updated: Indian stock markets are likely to open on a cautious note, with a flat-to-negative bias on Monday, July 7 Sensex Today: Indian stock markets are likely to open on a cautious note, with a flat-to-negative bias on Monday, July 7, as investors react to the latest updates on US tariff measures under President Donald Trump's administration. US Treasury Secretary Scott Bessent announced on Sunday that the new tariffs will be enforced starting August 1 for countries that fail to finalise trade agreements with the US — a list that currently includes India. Bessent stated that the extended timeline is meant to give US trading partners additional time to renegotiate tariff terms. The uncertainty around India's pending trade agreement with the US could weigh on investor sentiment. As of 6:40 AM, GIFT Nifty futures were trading 13 points lower at the 25,528 level, indicating a muted start for domestic indices. Apart from global cues, market focus will gradually shift toward the first quarter earnings season for FY26. Tata Consultancy Services (TCS) will kick off the results season with its Q1 numbers scheduled for July 10. Other key earnings include DMart on July 11, HCL Technologies on July 14, and Tech Mahindra on July 16. With no major domestic triggers expected today, the market is likely to remain stock-specific. Trends in foreign institutional investor (FII) flows and cues from global markets will play a critical role in driving sentiment through the session. Global Markets Update: Asian markets were mostly in the red on Monday, dragged lower by uncertainty over the shifting US tariff deadline. Japan's Nikkei 225 dipped 0.26%, while South Korea's Kospi shed 0.48%. Australia's S&P/ASX 200 hovered near the flat line in early trade. In the US, stock futures indicated a weak start for Wall Street. Dow Jones Industrial Average futures were down 146 points, or 0.32%. S&P 500 futures slipped 0.39%, and Nasdaq 100 futures declined 0.42%, reflecting cautious sentiment amid global trade concerns. About the Author Aparna Deb Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. Location : New Delhi, India, India First Published: News business » markets Stock Market Updates: GIFT Nifty Hints Muted Start; Trump Shifts Tariff Deadline To Aug 1
Mint
an hour ago
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Titan, NALCO shares today- 7 July 2025
Stock market today: India's stock market indices are expected to have a flat opening on Monday, as investors remain cautious ahead of the impending US tariff deadline. The Gift Nifty futures were reported at 25,535 points as of 7:58 IST, suggesting that the Nifty 50 will start close to its last closing value of 25,461. Asian equities opened lower after US officials indicated a postponement in the forthcoming tariffs but did not provide clarity or formal documentation, leaving investors uncertain about the nature of the change. Last week, both the Nifty 50 and Sensex experienced a decline of 0.7% each. Dharmesh Shah of ICICI Securities said Nifty 50 would head towards 25,800 in the coming week. Shah has recommended two stock to buy for short-term. Investors should consult experts before making decisions. Here's what he expects from Indian stock market next week, along with his stock recommendation. Equity benchmarks have taken a breather amid increasing anxiety ahead of trade deal deadline. Nifty 50 dropped 1% to settle the week at 25400. Sectorally, Consumption, Pharma, Defence remained at forefront while, realty, financials (ex- PSU Banks) underwent profit booking. The weekly price action formed a small bear candle carrying higher low, indicating pause in upward momentum after past two weeks up move. The index is sustaining well above recent consolidation breakout that coincided with 20 days EMA which has been majorly held since April-25. We believe, ongoing retracement would make market healthy and pave the way to head towards 25,800 in the coming week. Going ahead, all eyes will be on outcome of US-India bilateral trade deal coupled with onset of Q1FY26 earning season which will result into acceleration of ongoing uptrend. The better-than-expected outcome would fuel momentum to challenge All Time High in coming month wherein strong support is placed at 24,900. From the seasonality perspective, July has been the favourable month for Nifty 50 since 1991, 71% of the time returns have been positive with an average of 2.5%. Structurally, over past three months index has maintained its winning streak while absorbing host of negative news around geo-political uncertainties coupled with clarity of trade tariff. In the process, market breadth has shown gradual improvement as currently ~60% stocks of Nifty 500 universe are trading above 200 days EMA compared to last month's reading of 52% that bodes well for durability of ongoing up move. On the global macro front, weakness in US Dollar index would result into FII's inflow in emerging markets while cool off in Brent crude oil would boost the market sentiment. The formation of higher peak and trough makes us maintain our support base at 24,900 for the Nifty 50 which is based on 61.8% retracement of recent rally (24,473-25,654) and 20-day EMA. Dharmesh Shah of ICICI Securities recommends buying Titan and National Aluminium Company Ltd (Nalco) shares this week. Buy Titan shares in the range of ₹ 3,454-3,676. He has Titan share price target of ₹ 3,978 with a stop loss of ₹ 3,280. Buy Nalco shares in the range of ₹ 186-192. He has Nalco share price target of ₹ 216 with a stop loss of ₹ 174. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 04/07/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
