Stock markets open higher tracking rally in L&T
The 30-share BSE Sensex climbed 256.57 points to 81,594.52 in opening trade. The 50-share NSE Nifty went up by 69.3 points to 24,890.40.
From the Sensex firms, Larsen and Toubro jumped over 4% after the infrastructure major reported a 29.8% rise in consolidated net profit at ₹3,617.19 crore during the June quarter, driven by strong overseas order growth.
Bharti Airtel, Asian Paints, NTPC and Bajaj Finserv were also among the gainers.
However, Tata Motors, Hindustan Unilever, Eternal and Infosys were among the laggards.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,636.60 crore on Tuesday (July 29, 2025), according to exchange data.
In Asian markets, Japan's Nikkei 225 index and Hong Kong's Hang Seng traded lower while South Korea's Kospi and Shanghai's SSE Composite index quoted in positive territory.
The U.S. markets ended lower on Tuesday (July 29, 2025).
U.S. President Donald Trump has said the trade deal with India is not finalised, as he stressed that India imposes more tariffs than almost any other country.
Mr. Trump spoke to reporters on Tuesday (July 29, 2025) on Air Force One on his way back to Washington from Scotland and was asked about the trade deal with India.
'No, it's not,' Mr. Trump said when asked if the deal with India is finalised.
He was also asked about reports that India is preparing to face higher U.S. tariffs between 20-25%, to which he replied, 'I think so.'
"The technical bounce back in Nifty by 140 points yesterday is unlikely to continue in the unfavourable near-term market scenario. Such bounce backs happen in an oversold market.
"The major drag on the market continues to be the negative news on the India-US trade front. President Trump's comment that 'India may have to pay 20-25 per cent tariff' is very negative from the short-term market perspective," V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
Sustained FII selling in the cash market for the seventh consecutive trading day is another headwind for the market, Vijayakumar said adding that spike in Brent crude to $72 is another negative.
Global oil benchmark Brent crude dipped 0.01% to $72.50 a barrel.
On Tuesday (July 28, 2025), the Sensex jumped 446.93 points or 0.55% to settle at 81,337.95. The Nifty climbed 140.20 points or 0.57% to 24,821.10.
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Economic Times
14 minutes ago
- Economic Times
Trump increases tariff on Canada to 35% from 25%, cites fentanyl ahead of August 1 deadline
US President Donald Trump has signed an executive order raising tariffs on Canadian goods from 25% to 35% for all items outside the USMCA agreement. Canada, which relies heavily on the U.S. market, is expected to respond with countermeasures. Trump has also set new tariffs on 68 other nations and extended negotiations with Mexico. The White House has tied Canada's new rate partly to fentanyl concerns, sparking further friction between Ottawa and Washington as broader trade tensions continue to mount. Tired of too many ads? Remove Ads Blaming Canada for fentanyl and "retaliation" Tired of too many ads? Remove Ads Carney reached out but no talks happened Canada's response remains divided Tired of too many ads? Remove Ads A vulnerable trading partner Wider global impact: 68 countries affected Mexico granted a 90-day breather USMCA under strain as Trump signals shift Multiple deals in motion US President Donald Trump signed an executive order late on Thursday raising tariffs on Canadian goods not covered under the U.S.-Mexico-Canada Agreement (USMCA) from 25% to 35%, the White House confirmed.A separate 40% levy will apply to goods that are re-routed through third countries in an effort to dodge the new tariffs, according to a White House fact measure came just hours before Trump's self-imposed deadline for nations to strike new trade deals with the United White House has partly linked the decision to what it described as Canada's "continued inaction and retaliation", referencing concerns about fentanyl trafficking. Although Ottawa maintains that only a tiny fraction of the drug entering the U.S. originates from Canadian territory, officials say they've already taken steps to tighten border however, sees it differently. 'Well, they have to pay a fair rate – that's all. It's very simple. They have been charging very, very high tariffs to our farmers, some over 200% and they've been treating our farmers very badly,' he said when asked about the new Prime Minister Mark Carney reportedly reached out before the tariff hike took effect, but no conversation took place.'We haven't spoken to Canada today. He's (Carney) called and we'll, we'll see,' Trump told reporters at the White House just hours before the new rates were made office did not respond to media requests. On Wednesday, he said that while trade talks with Washington had been 'constructive,' a final deal by the deadline was added that a complete rollback of U.S. tariffs was not on the no clear agreement in place, pressure is mounting inside Canada. Carney must coordinate with ten provinces, each pulling in different directions. Some want a strong counter-response, others a more measured Doug Ford of Ontario, Canada's industrial powerhouse and the province most exposed to U.S. trade disruption, pushed hard for retaliation. 'Canada shouldn't settle for anything less than the right deal. Now is not the time to roll over. We need to stand our ground,' he said in a post on has called for a 50% counter-tariff on U.S. steel and aluminium speaking in June, warned that if no deal was reached by the August 1 deadline, Canada would likely impose new levies on American steel and ships around three-quarters of its exports to the U.S. The country's manufacturing-heavy export sector, including cars, steel, and aluminium, stands to be hit 90% of Canadian exports to the U.S. in May qualified under the USMCA, according to government data. But those that don't comply now face steep new figures also show a significant shift: the share of Canadian exports heading to the U.S. dropped by 10 percentage points over the last year, falling to 68%. Analysts say the shift reflects a push to diversify, as some companies seek new markets to avoid the uncertainty of U.S. the tension, economists believe the Canadian economy will avoid a recession, citing unexpected resilience and trade order didn't just target Canada. New tariffs were imposed on 68 nations and the European Union, with a baseline rate of 10% for unlisted will now face a 20% tariff, Pakistan 19%, and Lesotho — initially threatened with a 50% levy — will now see a 15% rate. The same 15% tariff applies to imports from Israel, Iceland, Ghana, Ecuador, Fiji and Guyana.A senior U.S. official, speaking anonymously, said the rates were based on each country's trade imbalance with the U.S. and their regional economic Thursday, Trump held a phone call with Mexican President Claudia Sheinbaum. Following the conversation, he agreed to a 90-day negotiation window, averting a planned tariff increase to 30%.During this period, Mexico will continue to pay the existing 25% duty on non-USMCA goods.'We avoided the tariff increase announced for tomorrow and we got 90 days to build a long-term agreement through dialogue,' Sheinbaum wrote on described the call as 'very successful,' saying the leaders had 'got to know each other better.' He said that under the arrangement, U.S.-bound Mexican imports of copper, aluminium and steel will face tariffs of up to 50%. Cars will be taxed at 25%.He also claimed Mexico had agreed to eliminate its 'non-tariff trade barriers' without offering goods continue to be protected under the USMCA, the three-way deal Trump negotiated during his first term. But he now appears to have cooled on the deal is up for renegotiation next year. Trump, in recent comments, indicated frustration with both Mexico and Canada, accusing them of taking advantage of the U.S. on trade.U.S. Census Bureau data shows the trade imbalance with Mexico reached $171.5 billion last year, up sharply from $63.3 billion in 2016, the year before Trump took flurry of tariff activity on Thursday capped days of deal-making. Trump said, 'We have made a few deals today that are excellent deals for the country,' though he declined to name the nations agreements have reportedly been reached with the European Union, Japan, Indonesia, the Philippines, South Korea, Cambodia and Thailand. Commerce Secretary Howard Lutnick told Fox News that the deals with Cambodia and Thailand came after both countries agreed to halt a border Union officials were still working on the framework for taxing imported vehicles. Meanwhile, Switzerland and Norway were said to still be awaiting clarity on their own current tariff strategy has evolved quickly. Back in April, a previous round of tariff announcements triggered a stock market slide and recession fears. To contain the fallout, Trump introduced a 90-day negotiating period, but as deadlines passed without enough deals, the White House ramped up pressure unpredictability has rattled markets and governments. While Trump sees tariffs as leverage, economists warn that the costs will eventually filter down to U.S. consumers and businesses. For now, the pressure has shifted to America's biggest trading partners — and they'll need to decide how to respond.(With inputs from Reuters)
Mint
16 minutes ago
- Mint
Top three stocks to buy today—recommended by Ankush Bajaj for 1 August
The Nifty50 fell by 86.70 points, or 0.35%, on Thursday, closing at 24,768.35. The BSE Sensex dropped 296.28 points, or 0.36%, settling at 81,185.58. The Bank Nifty also continued to slide, losing 188.75 points, or 0.34%, to close at 55,961.95, breaching key intraday support levels and reflecting continued pressure in financials. Top three stocks recommended by Ankush Bajaj for 1 August Market Wrap On Thursday, July 31, 2025,the Nifty 50 fell by 86.70 points or 0.35%, closing at 24,768.35, while the BSE Sensex dropped 296.28 points or 0.36%, settling at 81,185.58. The Bank Nifty also continued to slide, losing 188.75 points or 0.34% to close at 55,961.95, breaching key intraday support levels and reflecting continued pressure in financials. Sectorally, the market faced sharp losses, especially in cyclicals. The Oil & Gas sector declined 1.48%, the Pharma index fell 1.31%, and the Metal index dropped 1.22%, pulling the broader indices down. However, a few defensives offered limited relief — the FMCG sector surged 1.44%, while the Consumption index edged up by 0.33%, reflecting selective investor rotation. Among top performers, Hindustan Unilever stood out with a strong gain of 3.44%, followed by Jio Finance at 2.79%, and Eternal, which rose 1.43%, supported by continued buying in high-quality and lower-beta names. On the downside, heavyweights dragged the market further. Adani Enterprises plunged 4.03% amid valuation concerns, while Tata Steel dropped 2.12%, and Sun Pharma fell 1.56%, extending the pressure on broader sentiment. Nifty Technical Analysis Daily & Hourly On July 31, 2025, the Nifty closed at 24,768.35, down 86.70 points or 0.35%, marking a weak session after recent attempts to stabilize. While the index managed to trade above the key support zone of 24,700 during the session, it failed to sustain higher levels and remained under pressure, once again halting near the major resistance at 25,000. This continued rejection reinforces the fact that 25,000 remains a strong psychological and technical barrier, and unless it is decisively crossed, the market is likely to stay range-bound. From a technical standpoint, the Nifty is currently trading below all its key short-term moving averages. The 20-day SMA stands at 25,119, while the 40-day EMA is placed at 24,994 — both levels the index needs to reclaim to revive near-term bullishness. On the intraday chart, Nifty is also hovering below the 20-hour SMA at 24,803 and the 40-hour EMA at 24,855, which indicates a mildly bearish structure in the short term. Momentum indicators offer little comfort. The daily RSI remains weak at 41, while the hourly RSI has edged up slightly to 44 but still remains below neutral territory. The MACD on both daily (−86) and hourly (−12) timeframes continues to linger in negative territory, suggesting that bearish momentum, although not accelerating, is yet to fade meaningfully. In the derivatives segment, the data continues to show a cautious undertone. Total Call open interest stands at 6.24 crore versus 5.63 crore on the Put side, resulting in a negative difference of 60.73 lakh contracts — a bearish sign. The change in open interest during the day also remains slightly negative, with Call OI rising by 2.85 crore and Put OI increasing by 2.76 crore, resulting in a net bearish bias of 9.28 lakh contracts. The Put-Call Ratio, however, has improved to 0.90, indicating some reduction in bearish sentiment but still not enough to signal a reversal. The highest Call OI is placed at the 26,000 strike, reinforcing a distant upside cap, while 25,000 continues to act as the immediate ceiling. On the Put side, maximum OI remains at the 24,000 strike, establishing it as a strong base. Meanwhile, India VIX ticked up 3% to 11.54, indicating a slight rise in volatility and caution. In summary, the Nifty remains stuck in a consolidation phase with limited directional clarity. The failure to break and hold above 25,000 keeps the short-term trend neutral to bearish. While the index is holding above 24,700 support for now, traders should watch this level closely. A sustained move above 25,000–25,120 is essential for a meaningful bullish breakout, whereas a breakdown below 24,700 could drag the index towards 24,500–24,400. Until then, range-bound and tactical trading strategies such as "buy-on-dips" near support and "sell-on-rise" near resistance are likely to dominate. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
16 minutes ago
- Mint
Investors react to Trumps new reciprocal tariffs announcement
SINGORE, - President Donald Trump signed an executive order on Thursday imposing reciprocal tariffs ranging from 10% to 41% on U.S. imports from dozens of countries and foreign locations. Rates were set at 25% for India's U.S.-bound exports, 20% for Taiwan's and 30% for South Africa's. Trump also signed an executive order on Thursday increasing tariffs on Canadian goods to 35% from 25%, the White House said. TONY SYCAMORE, MARKET ANALYST, IG, SYDNEY: "At this point, the reaction in markets has been modest, and I think part of the reason for that is the recent trade deals with the EU, Japan, and South Korea have certainly helped to cushion the impact, as has Mexico being granted a 90-day reprieve. And Trump said that trade talks with China are doing reasonably well there. "So on top of all of that, you have the TACO trade type situation whereby, after being obviously caught on the wrong foot in April, the market now, I think, has probably taken the view that these trade tariff levels can be renegotiated, can be walked lower over the course of time." BRIAN JACOBSEN, CHIEF ECONOMIST, ANNEX WEALTH MANAGEMENT, MENOMONEE FALLS, WISCONSIN : "Just because we now have clarity on the tariffs, that doesn't mean we have certainty about their effects. "There are those who think that tariff-induced consumer price inflation will slowly build as businesses work down inventories and test how strong their pricing power is. Others think the tariff-induced inflation will peak earlier, showing up mostly in crimped profit margins and resulting in slower growth. "However, what tariffs take with one hand, maybe tax incentives to invest and more open foreign markets can give with the other hand." This article was generated from an automated news agency feed without modifications to text.
