Quote on Weekly Market Round-off 01st Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Weekly Market Round-off 01st Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Global equity markets were mostly weak over the past week, as the US tariff saga continued. The Indian equity market continued to underperform global equity markets in the past week and was down 0.8% over this period. Nifty Midcap and Small cap underperformed by declining 1.2% and 1.7% respectively. The US imposed 25% tariffs on Indian exports, while existing exemptions remained in place. USD-INR depreciated by 1.2% in the past week. FMCG (+3.0%) was the top gainer, while realty (-5.5%), IT (-2.5%), Telecom (-4.2%), Pharma (-2.9%) and metals (-3.1%) were the major losers. The market focused on earnings and management commentary during the 1QFY26 earnings season. While aggregate earnings were broadly in line with estimates, the outlook remained muted, resulting in continued cuts in earnings estimates. FIIs remain net sellers and DIIs remain net buyers.
In Global, in US, Trump announced 40% tariffs on transhipped goods and new rates for dozens of countries just before the August 1 deadline. The move follows a pattern of late-night shifts that have become a hallmark of Trump’s unpredictable trade strategy. In Europe, Annual euro zone inflation came in at 2% in July, unchanged from June. The reading was higher than the 1.9% expected by economists polled by Reuters. Asia-Pacific markets fell this week after U.S. President Donald Trump modified “reciprocal” tariff rates on several countries, ranging from 10% to 41%.
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