logo
India's stock benchmarks to open flat on caution ahead of US tariff deadline

India's stock benchmarks to open flat on caution ahead of US tariff deadline

Reuters19 hours ago
July 7 (Reuters) - India's equity benchmarks are poised to open little changed on Monday, as caution prevailed among investors ahead of the upcoming U.S. tariff deadline.
The Gift Nifty futures were trading at 25,535 points as of 7:58 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open near its previous close of 25,461.
Asian shares opened lower after U.S. officials flagged a delay in upcoming tariffs but offered no clarity or formal documentation, leaving investors uncertain about the scope of the change.
The U.S. is close to finalising trade agreements with several countries and will notify other countries of higher tariff rates by July 9, President Donald Trump said on Sunday. The new rates are set to take effect from August 1.
Both the Nifty and Sensex fell 0.7% each last week.
"Investors have adopted a wait-and-watch approach and have turned cautious ahead of the July 9 tariff deadline," said Vinod Nair, head of research at Geojit Financial Services.
Foreign institutional investors (FII) remained net sellers of Indian stocks for the fifth straight session while domestic investors snapped a four-session buying streak on Friday.
Analysts say a favourable trade deal and strong June quarter earnings could lift indexes to record highs, while disappointments on either front could pressure markets. Both the Nifty and Sensex remain about 3% below their all-time highs hit on September 27, 2024.
** Consumer firms Dabur India (DABU.NS), opens new tab and Godrej Consumer (GOCP.NS), opens new tab flag June quarter profit pressures
** IndusInd Bank (INBK.NS), opens new tab says net advances fell 3.9% year-on-year in June quarter
** Bank of India (BOI.NS), opens new tab says global deposits rose 9.1% year-on-year in the June quarter while gross advances rose 12%
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump announces 25% tariffs on Japan and South Korea
Trump announces 25% tariffs on Japan and South Korea

BreakingNews.ie

time34 minutes ago

  • BreakingNews.ie

Trump announces 25% tariffs on Japan and South Korea

US President Donald Trump has set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on Malaysia, Kazakhstan, South Africa, Laos, Myanmar and Tunisia. The tariffs are set to go into effect on August 1. Advertisement Mr Trump provided notice by posting letters on Truth Social that were addressed to the leaders of the various countries. US President Donald Trump waves to the media after exiting Air Force One (Jacquelyn Martin/AP) The letters warned them to not retaliate by increasing their own import taxes, or else the Trump administration would further increase tariffs. 'If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25% that we charge,' Mr Trump wrote in the letters to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung. The letters were not the final word from Mr Trump on tariffs, so much as another episode in a global economic drama in which he has placed himself at the centre. Advertisement His moves have raised fears that economic growth would slow to a trickle, if not make the US and other nations more vulnerable to a recession. But Mr Trump is confident that tariffs are necessary to bring back domestic manufacturing and fund the tax cuts he signed into law last Friday. He mixed his sense of aggression with a willingness to still negotiate, signalling the likelihood that the drama and uncertainty would continue and that few things are ever final with Mr Trump. Imports from Myanmar and Laos would be taxed at 40%, South Africa at 30% and Kazakhstan, Malaysia and Tunisia at 25%. Advertisement Shoppers browse electric rice cookers imported from Japan and South Korea at a US department store (Nam Y Huh/AP) Mr Trump placed the word 'only' before revealing the rate in his letters to the foreign leaders, implying that he was being generous with his tariffs. Mr Trump still has outstanding differences on trade with the European Union and India, among other trading partners. Tougher talks with China are on a longer time horizon in which imports from that nation are being taxed at 55%.

10 Most Expensive Car Parts to Fix—And How They Wreck Resale Value
10 Most Expensive Car Parts to Fix—And How They Wreck Resale Value

Auto Blog

time39 minutes ago

  • Auto Blog

10 Most Expensive Car Parts to Fix—And How They Wreck Resale Value

By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. New data shows how some auto repairs just aren't worth it Auto repairs can be costly, and prices for the service are increasing as the U.S. imposes tariffs on imported parts. Electric vehicle (EV) repairs can be especially costly, as the repair service market for this car class is projected to rise by $40.06 billion this year, according to NexusMedia, which cites insights from EasySearch. However, auto repairs can cost you in ways that extend beyond immediate expenses. 0:04 / 0:09 2024 Kia EV6 GT-Line review: Is this the EV that will convert you? Watch More Some repairs can reduce your vehicle's resale value by as much as 45%, underscoring the importance of knowing when to hold on to a vehicle for repair or sell and cut losses. Hybrid or EV batteries were ranked as the most expensive part to repair, averaging $12,500 to fix, with an estimated $9,000 loss in resale value, or 45%. Engine and cylinder fixes were second behind hybrid or electric batteries at a $7,000 average repair and a $8,000 or 40% resale value decrease. Drivers were listed as searching online about engine and cylinder fixes the most, with 2.46 million related searches. Automatic gearboxes ranked third with an average cost of $5,000 to fix and a $7,000 or 35% resale value hit. Transmissions weren't far behind at a $4,500 average repair cost and $6,000 or 30% estimated value loss. A service technician works under the hood of a customer's vehicle at a Goodyear Tire and Rubber Co. Auto Service Center in Millington, Tennessee — Source: Getty Another expensive EV and hybrid part to repair is an inverter, which typically costs $3,500, resulting in a $4,000 or 20% decline in value. Still, data indicates that this repair is less common, as the study only noted 62,500 related searches online—the list's third-lowest number of searches. Air suspension, if not included in the broader suspension category, poses an average repair cost of $2,750 and a $3,000 or 15% drop in resale value, but it received the lowest number of related online searches at 17,600. Airbags and suspension both carry an average repair bill of $2,500, but airbag fixes have a significantly more pronounced impact on resale value, at $5,000 or 25%, compared to the latter's $2,400 or 12%. Head gasket and turbocharger repairs cost drivers $2,250 upfront. However, head gasket service results in an estimated $3,000 or 15% decrease in resale value, while turbochargers can reduce resales by $2,400 or 12%. EV vs. internal combustion engine (ICE) repairs: a driver's dilemma 'The era of 'fix it until it dies' car ownership is rapidly coming to an end, replaced by a more calculated approach where repair decisions increasingly resemble stock trading, with knowing when to hold, and when to cut your losses. Today's drivers face a paradox: while electric and hybrid vehicles promise lower lifetime maintenance costs, a single catastrophic component failure can instantly wipe out years of fuel savings and render an otherwise functional car financially toxic,' a NexusMedia spokesperson said. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Final thoughts The growing complexity of vehicles, especially hybrids and EVs, means that repairs are getting more expensive, requiring specialized training and equipment. Even if you don't drive a hybrid or an EV, advanced driver assist systems (ADAS) such as autonomous tech are increasing the list of pricey repairs motorists face. Given this landscape, drivers should consider potential repair costs and their subsequent impact on resale value as among the primary factors making or breaking their next vehicle purchase. About the Author Cody Carlson View Profile

Nissan May Consider Deal With Foxconn to Save Japanese Car Plant
Nissan May Consider Deal With Foxconn to Save Japanese Car Plant

Auto Blog

time41 minutes ago

  • Auto Blog

Nissan May Consider Deal With Foxconn to Save Japanese Car Plant

By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. The company that made your iPhone might make cars with Nissan According to new reports published by Nikkei and Reuters, Taiwanese electric vehicle upstart and electronics contract manufacturer Foxconn (Hon Hai Precision Industry Co.) is said to be in talks with Japanese automaker Nissan to build EVs in an arrangement that could potentially save one of the Yokohama-based automaker's factories from closure. Sources familiar with the matter told the newswire and the Japanese business publication that these discussions revolve around Foxconn producing electric vehicles at Nissan's Oppama plant in Yokosuka, a plant that employs around 3,900 people and a facility that is seen as a primary target for shutdown under Nissan CEO's ambitious Re:Nissan restructuring plan. Nissan Oppama Plant — Source: Nissan According to Nikkei, the partnership would be part of a bigger EV collaboration and possibly incorporate a joint venture between the Taiwanese and Japanese firms. If successful, Nissan's Oppama plant would be spared from closure, as its excess capacity would be turned over to Foxconn. One source who spoke with Nikkei said that Nissan is currently talking with multiple partners, including Foxconn, on various ways they could accelerate the automaker's ambitious restructuring plan aimed at 'right-sizing' the company. In a statement seen by Reuters, Nissan said the Nikkei report was not based on information released by the automaker. Nissan is trying to keep the lights on at an important, historic facility The reports involving Foxconn come nearly two months after reports of the potential closure of the Oppama plant surfaced in May, triggering a sizable response from local government officials. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Opened in 1961, the Oppama plant holds some historical weight for the Yokohama-based automaker. It was the first Nissan plant to mass produce electric vehicles, and is also a popular tourist attraction in the area. According to the automaker, it has an annual production capacity of around 240,000 vehicles and employs 3,900 people in manufacturing and research roles. However, MarkLines data shows that the plant's utilization rate has been low due to the automaker's sluggish sales. Last year, it was just 40%, which is far below its break-even point of 80%. Despite this, a potential shutdown of the Oppama plant would devastate Nissan and the area. Many of Nissan's important parts suppliers are located near the plant, which is also a key research and development facility for Nissan. Within its 170 hectares, Oppama is home to a research center, testing facilities, and a wharf for car carriers. Losing the plant would force Nissan to build new test courses and facilities elsewhere, which could additionally burden the company's tight books. Nissan Oppama Plant — Source: Nissan Foxconn could be the real winner in a potential Nissan deal Though a potential Foxconn deal could help Nissan offload unused capacity and save jobs, and preserve its contracted supplier network, such a deal could help the iPhone and Xbox manufacturer become a legitimate contract producer of electric vehicles. Jun Seki, a former Nissan executive and Foxconn's EV chief strategy officer, has been eying partnerships with established automotive brands, although it aims to sell its own EVs in the U.S. Previously, Seki said that the company plans to start delivering the Model C SUV to a North American customer by the end of 2025. Back in May, Foxconn secured a deal to make EVs when it signed an agreement to supply Mitsubishi with a new product starting next year. The vehicle in question is expected to be a compact crossover and will be made in Taiwan for export to Australia and New Zealand. Final thoughts The talks come as Espinosa's Re:Nissan restructuring plans call for reducing worldwide car production capacity from 5 million cars to around 2.5 million cars, with some allowance to increase to 3 million with overtime and even as high as 4 million with products from partner companies. Although Nissan is a global company, the data shows that the largest chunk of its sales is to customers in the U.S. According to a publicly available document on Nissan's global website, 76,977 Nissan and Infiniti brand vehicles were sold in the U.S. in May 2025, while it moved just 27,736 cars in Japan. As I have said before, Nissan's C-Suite has more than just a bloated production capacity when it comes to saving itself. In its largest market, the Trump Administration is keen on cementing its tariff-heavy trade policies with those who do not want to play ball. For now, we can only hope that things will go well for the Japanese automaker and that a U.S.-Japan trade agreement can surface during the ongoing discussions. About the Author James Ochoa View Profile

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store