Stock market
US President Donald Trump on Wednesday announced a 25% additional tariff on imports from India, making the total tariff to 50%. This decision came at a time when there was already tension in India-US business relations. Its effect was also seen on global markets. At 10:07 pm on Wednesday night, the gift Nifty fell at 96.50 points i.e. 0.39% to close at 24,784.50. It saw a decline of up to 200 points in the day. In the last one week, the gift Nifty weakened 0.8%, which shows the growing concern of investors.
New tariff will be implemented from August 27
This new order of Trump will be applicable from August 27, under which additional tariffs will be imposed on all the items from India to America. The Trump administration says that this step has been taken in response to India’s wrong trade behavior and purchase of oil from Russia. Although on Wednesday, Asian and European markets were in a boom and the American markets were also in green mark during the day, but Trump’s decision disturbed Indian investors.
Market fall estimate
Dheeraj Reli, MD and CEO of HDFC Securities, says that the Indian stock market may start with slight nervousness on Thursday and the Sensex-Nifty may fall by 1-2%. In this, most of the Girwat IT shares can be seen. But Dheeraj believes that this decline will not last long. He says that investors will avoid great selling, because they are confident that this dispute between India and US will not last long and the conversation will be resolved. However, if the tariff remained in force for a long time, then India’s GDP may be affected. According to Reilly, GDP may reduce 30-40 basis points.
India expressed strict objection
The Government of India has shown a tough stand on Trump’s tariff decision. The Ministry of External Affairs issued a statement on X, calling this decision ‘very unfortunate’. The ministry says that the US has repeatedly objected to India’s purchase of oil from Russia, while India makes this purchase market status and the energy needs of 140 crore people. India described this step as inappropriate, unjust and wrong and clearly said that the country will take every necessary steps to protect its national interests.