Sensex and Nifty 50 are likely to open lower on Thursday after US President Donald Trump imposed an additional 25% tariff on Indian imports, doubling the total levy to 50%. While Asian markets traded mixed overnight, US stocks closed higher, supported by a strong rally in the Nasdaq.

However, on Wednesday, Indian equities closed in the red after the Reserve Bank of India’s Monetary Policy Committee kept the repo rate unchanged and retained a ‘Neutral’ policy stance.

Domestic Market Recap

On Wednesday, Indian indices closed in the red:

• Sensex slumped by 166.26 points (0.21%) to close at 80,543.99
• Nifty 50 moved down by 75.35 points (0.31%) to settle at 24,574.20

Gift Nifty

Gift Nifty was trading near 24,594, around 40 points lower than the previous Nifty futures close, hinting at a negative start for Indian markets.

Wall Street Performance

• Dow Jones Industrial Average gained by 81.38 points (0.18%) to close at 44,193.12.
• S&P 500 up by 45.87 points (0.73%), ending at 6,345.06.
• The Nasdaq Composite was trading higher by 252.87 points (1.21%), finishing at 21,169.42.

Gold Prices

• Spot gold was trading up by 0.1% at $3,372.97/oz 
• US gold futures gained by 0.3% at $3,442.20

Overnight Major Global Events Driving Sentiment

1. Trump Tariffs on India: US President Donald Trump imposed an additional 25% tariff on Indian imports, raising the total US tariff on India to 50%. He cited India’s continued direct and indirect oil imports from Russia as the reason behind the hike.
2. Apple Share Price: Apple shares surged 5% after President Trump revealed the tech giant would invest another $100 billion in the United States. This move expands Apple’s domestic investment pledge to $600 billion and may help the company avoid potential tariffs on iPhones. Earlier this year, Apple had already committed $500 billion and promised to create 20,000 new jobs over the next four years.

Tired of missing hot stocks? Unicorn Signals provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!