Indian Markets Stir Amid Global Turbulence and Tariff Troubles

Indian benchmark indices started Wednesday's trading session on a flat note, primarily influenced by the weakness in Asian markets and investors' cautious sentiment in light of impending corporate earnings and major economic announcements on trade discussions. The BSE Sensex opened at 82,534.66, showing a slight decline of 36.24 points, while the Nifty at the National Stock Exchange (NSE) dropped by 0.80 points from its previous close, standing at 25,196.60. In the opening hour, 1,271 stocks advanced, 818 declined, and 171 remained unchanged.

On the NSE, significant gainers included SBI Life Insurance, Trent, Tech Mahindra, Hero MotoCorp, and Tata Consumer. Meanwhile, Shriram Finance, Cipla, Hindalco, Reliance Industries, and TCS saw losses. Market analysts pointed to U.S. President Donald Trump's recent tariff announcements, including a substantial increase in pharma tariffs and the potential for secondary tariffs aimed at countries trading with Russia, which is expected to impact energy prices and investor decisions.

Ajay Bagga, a market and banking expert, noted that the market is anxious over U.S. tariff deals, highlighting a sudden increase in pharma tariffs and looming secondary tariffs, especially affecting crude oil importers from Russia, with a deadline by September 2nd. According to Akshay Chinchalkar, Head of Research at Axis Securities, although Nifty rose by 113 points to 25,196, it was its first gain in five days, advising caution until further technical confirmations. Yesterday, Indian indices broke a four-day losing streak with improved performance in Auto and BFSI sectors. Broader markets fared well with Midcap and Smallcap indices gaining 0.8% and 1.0%, respectively, supported by a healthy market breadth reflected in a 2:1 Advance-Decline ratio as reported by SBI Securities. (ANI)

(With inputs from agencies.)