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Market Update

Nifty : 25,476.10 -46.40 (-0.18%)

Sensex : 83,536.08 -176.43 (-0.21%)

* Equity benchmark Nifty ended slightly lower, slipping below the 25,500 mark, as growing concerns over potential new U.S. tariffs on pharmaceutical and copper imports weighed on investor sentiment.

* Uncertainty around the ongoing India-U.S. trade negotiations further dampened market mood, especially after U.S. President Trump ruled out any extension of the August deadline and signaled the possibility of additional tariffs.

* The Sensex declined by 176 points or 0.2% to close at 83,536, while the Nifty shed 46 points or 0.2% to end at 25,476. The broader market remained rangebound as traders adopted a cautious stance amid the escalating trade tensions. • President Trump's threat of imposing a 200% tariff on pharmaceutical products, a 50% duty on copper, and potential new levies on semiconductors sparked global market volatility.

* Sector-wise, the Nifty IT index dropped nearly 1%, while the Nifty Metal index declined 1.5%. Metal stocks such as Vedanta, Hindustan Zinc, National Aluminium, and Hindustan Copper fell between 2–3%.

* The advance-decline ratio for Nifty 500 stocks stood at 1:1, reflecting a choppy and indecisive trading session.

Technical Outlook:

* Nifty index opened flattish and witnessed a tug of war between the bulls and bears who oscillated in a range of around 100 points throughout the day. It was a subdued session yet a controlled one and made the same high and low levels as the previous session.

* It formed a small bodied bearish candle on daily frame with longer lower shadow indicating support based buying is intact. Now it has to cross and hold above 25500 zones for an up move towards 25650 then 25800 zones whereas supports can be seen at 25400 then 25300 zones.

* Nifty future closed negative with losses of 0.24% at 25550 levels. Positive setup seen in IEX, Mankind, Concor, Delhivery, Laurus Labs, Amber, Dabur, Cummins, HUL, Dixon and PNB Housing Finance while weakness in Union Bank, Hindustan Copper, Phoenix Mills, GAIL, VEDL, Godrej Properties, Hindustan Zinc, IRB Infra, APL Apollo, Oberoi Realty, Sonacoms and Dr Reddy. • On option front, Maximum Call OI is at 25500 then 25600 strike while Maximum Put OI is at 25500 then 25400 strike. Call writing is seen at 25500 then 25600 strike while Put writing is seen at 25500 then 25450 strike. Option data suggests a broader trading range in between 25000 to 26000 zones while an immediate range between 25300 to 25700 levels.

Global Market Update

* European Market - European stocks open on a marginally positive as investors looked for signs of progress in trade negotiations with the US. Mining stocks dropped as President Donald Trump indicated the US would implement a higher-than-expected 50% tariff on copper imports. European healthcare fell as Trump threatened levies of as much as 200%. Both Germany and France Index gain 0.2% each.

* Asian Market - Asian stocks fell as investor mood soured following US President Donald Trump’s latest vow to push forward with his aggressive tariff agenda. Equities in Hong Kong were among the top losers in the region after Trump said he planned to implement a 50% tariff on imports of the commodity. Australia Index slipped 0.6% while Japan Index advance 0.3%.

* US Data - FOMC Minutes of meeting.

* Commodity - Oil steadied as traders weighed signs of swelling US crude stockpiles and the fallout from President Donald Trump’s tariff regime. Brent held near $70 a barrel

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