Sensex, Nifty Open Lower Amid Global Trade Tensions Over Trump Tariffs

Indian stock markets opened lower on Friday as investors reacted to growing global uncertainty caused by US President Donald Trump’s aggressive trade stance.

At 9:20 AM, the BSE Sensex dropped 224 points, or 0.27%, to 82,965, while the NSE Nifty declined 65 points, or 0.26%, to 25,289.

Midcap, Smallcap stocks show resilience

Despite weakness in the large-cap segment, investors showed mild buying interest in mid-cap and small-cap stocks.

The Nifty Midcap 100 index rose 60 points (0.10%) to 59,220, and the Nifty Smallcap 100 index added 11 points (0.06%) to reach 18,967.

Analysts urge caution amid volatility

Market analysts advised traders to remain cautious due to elevated volatility and global uncertainty.

They recommended a ‘wait and watch’ strategy, particularly for leveraged positions, along with booking partial profits during rallies and using tight trailing stop-losses.

Mixed Performances across the Sensex pack

Among the Sensex stocks, major gainers included HUL, Asian Paints, Axis Bank, NTPC, Power Grid, Tata Steel, SBI, Adani Ports, Sun Pharma, and ITC.

On the downside, TCS, Infosys, M&M, Tech Mahindra, HCL Tech, Bharti Airtel, Bajaj Finserv, and Trent recorded losses.

Sector-wise, PSU banks, financial services, pharma, FMCG, and metal stocks traded in positive territory.

In contrast, the auto, IT, realty, and media sectors slipped into the red.

Asian stock markets traded mixed. Japan’s Nikkei 225 and South Korea’s KOSPI remained flat, while China’s Shanghai Composite and Hong Kong’s Hang Seng rose over 1%, buoyed by local optimism.

Wall Street closes at record highs

Overnight, Wall Street indices closed at record highs.

The Dow Jones rose 0.43%, the S&P 500 climbed 0.27%, and the tech-heavy Nasdaq Composite also recorded gains.

FIIs and DIIs continue buying spree

Foreign institutional investors (FIIs) bought equities worth ₹221 crore on July 10.

Domestic institutional investors (DIIs) purchased equities worth ₹591 crore on the same day, signalling continued confidence in Indian equities despite global headwinds.

Trump recently announced a 35% tariff on Canadian imports effective August 1, warning of increased levies if Canada retaliates.

Additionally, he threatened a 50% tariff on Brazilian imports unless Brazil halts legal action against former President Jair Bolsonaro.

These statements have added to market concerns about a renewed global trade war.

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