Indian equity markets are poised for a choppy opening as fresh US tariff announcements dampen sentiment ahead of key economic data and corporate earnings.
Global Trade Tensions Escalate
The US plans to impose 10 per cent base and up to 15 per cent or higher tariffs on imports from countries with trade surpluses by after midnight on August 7.
Canada faces a steep 35 per cent tariff, while Mexico’s tariff implementation has been delayed by 90 days.
These follow 25 per cent tariffs on Indian goods, and a threat of further penalties over India’s ties with Russia—a move India remains firm against, choosing negotiation over retaliation.
Analysts believe final tariffs may settle at lower rates (15–20 per cent) as negotiations continue.
Weak Sentiment to Spill Into Trade
The GIFT Nifty futures were down 0.6 per cent, signaling a soft open for Indian indices.
On Thursday, markets retraced most losses after falling nearly 1 per cent at the open, but volatility is likely to return early.
Asian Markets Continue Slide
The MSCI Asia-Pacific Index posted its longest losing streak of the year, sliding 0.55 per cent, led by South Korea’s Kospi, which plummeted more than 2.5 per cent.
Asian currencies will remain in focus on Friday, especially amid ripple effects from escalating US trade policy.
Wall Street Ends Lower
In overnight trade, S&P 500 dropped 0.37 per cent, while Nasdaq fell marginally 0.03 per cent, despite robust tech earnings—including Microsoft briefly surpassing a $4 trillion market cap.
Domestic Cues to Watch
Economic updates due today include S&P Global–HSBC India PMI for July, auto sales data, and weekly foreign exchange reserve figures.
Q1 corporate results expected from companies like Swiggy, City Union Bank, Eicher Motors, Mankind Pharma, JSW Energy, PB Fintech, among others.
Leading companies announcing results include ITC, MCX, Adani Power, UPL, and Tata Power.
IPO Corner
Mainboard IPOs such as Sri Lotus Developers & Realty, M & B Engineering, and National Securities Depository will conclude today.
In the SME segment, six issues remain open, with three poised to close by day-end.
