Indian equity markets opened on a cautious note Monday, with the Nifty 50 and BSE Sensex showing little movement as global investors awaited clarity on U.S. President Donald Trump’s looming July 9 tariff deadline.
The Nifty 50 opened at 25,439.40, largely unchanged, while the Sensex slipped marginally by 61.26 points to 83,371.63, reflecting a 0.07% decline.
Market analyst Ajay Bagga noted that Trump’s recent legislative success on tax and spending has shifted his focus back to trade and tariffs, which is expected to dominate the global market narrative in July.
“Trump will now pivot back to tariffs. The current chatter suggests a 10% universal tariff on imports from over 100 countries may be imposed starting August 1, with pressure on top trading partners—including India—to strike bilateral deals before that,” Bagga said.
He added that sectors like steel, aluminium, autos, and auto components already face elevated duties ranging from 25% to 50% since April 2025. Countries such as India, EU, Japan, and South Korea remain in tough negotiations with the U.S.
In broader indices, Nifty Midcap 100 and Nifty Smallcap 100 slipped by 0.06% and 0.04% respectively, indicating weak sentiment across mid- and small-cap stocks.
Among sectoral performers:
- Nifty Media dropped 0.76%
- Nifty IT slipped 0.49%
- Nifty FMCG, PSU Bank, and Realty indices showed gains
Sunil Gurjar, SEBI-registered analyst and founder of Alphamojo Financial Services, said the market is currently in a “wait-and-watch” phase.
“Technically, Nifty remains bullish, trading above key moving averages. A breakout above 26,364 could resume the uptrend,” Gurjar added.
With global uncertainty high and tariff policy shifts on the horizon, market volatility is expected to continue in the short term as investors await concrete action from Washington.