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Indian markets reacted negatively to US tariffs. Donald Trump imposed 25% tariffs on India. Most sectoral indices closed lower. Textiles, automobiles, oil & gas, and pharmaceuticals are likely to be affected. Textile stocks could face pressure. There is ambiguity on the auto sector impact. Oil & gas sector also faced a drop. Pharma sector also declined due to the tariffs.
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The Indian rupee hit a record low, closing at 87.59 against the dollar. This decline occurred due to worries about US tariffs and continuous selling of Indian stocks. A strong dollar also contributed to the rupee's fall. During the day, it even touched 87.74. However, the rupee recovered slightly, possibly because of intervention by the central bank.
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News and Media
Historical market data reveals mixed performance trends for August, with both Nifty 50 and Nifty 500 showing gains in six out of the last ten years. Global indices like S&P 500 and Dow Jones also exhibit similar inconsistent seasonality. Investors anticipate continued volatility this month, influenced by US tariffs and other uncertainties, expecting Nifty to fluctuate within a specified range.
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News and Media
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