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Below the Perspective on Markets 31th July 2025 by Mr. Vikram Kasat, Head - Advisory, PL Capital

“No Cut - FOMC did what pretty much everyone on Wall Street expected, but Dow Jones still dropped

 Nifty 24855.05,  Recent low of 24598 will be a crucial support level. Breaking below 24598 can drag the Nifty index lower towards 24450 - 24500 zone, which is a major support zone for the Nifty

 IT (Possible indirect beneficiary of INR depreciation)

 This is a major setback for Indian exporters, especially in sectors like textiles, footwear, and furniture, as the 25% tariff will render uncompetitive against rivals from Vietnam and China

 Trump said - Pakistan has oil reserves and they will sell to India someone day

 ‍this guy has lost it Politically, the relationship is in its toughest spot since the mid-1990s. Trust has diminished. President Trump's messaging has damaged many years of careful, bipartisan nurturing of the U.S.-India partnership in both capitals”

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