ET Market Watch: Nifty below 24,800; Trump's tariff rattles Indian markets
Hi, you're listening to ET Markets Watch, I'm Neha Vashishth, here's your quick market wrap:
Indian markets trimmed early losses but still ended lower on Thursday. Sensex dropped 296 points, Nifty closed below 24,800. That's a nearly 3% fall for July overall!
The big trigger? Trump's 25% tariff threat on Indian exports starting August 1, plus an unspecified penalty.
Investors took it as a negotiation tactic — not a done deal yet.
Textile stocks tanked: Welspun, KPR Mills, Gokaldas Exports — all fell up to 5%.
Adani Enterprises slipped 4% on weak Q1 results.
FMCG stood out. Hindustan Unilever jumped 3.4% on strong rural demand and earnings.
Globally, markets were mixed.
China's factory data spooked investors. But Europe held steady thanks to strong bank earnings
Brent crude fell to $72.64. The rupee posted its worst month in nearly 3 years, down 2% to 87.59 vs the dollar.
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