Trump imposed additional 25% tariff on India, Markets brace for volatile
session
Donald
Trump threw another tariff arrow over India, deploying additional 25% tariff on
Indian goods. The total 50% tariff is second highest in the world and likely to
impact heavily Indian exports. The GIFT Nifty is down 95 points in the early
morning session but dramatic Trump may change the stance anytime.
The
Indian equity benchmark indices closed lower for the second consecutive day as
Wipro, Sun Pharma, Jio Finance along with others weighed on the index. The NSE
Nifty 50 benchmark ended 75 points, or 0.31% lower at 24,574, and the 30-stock
BSE Sensex ended 166.26 points, or 0.21% lower at 80,543. Foreign portfolio
investors stayed net sellers of Indian shares on Wednesday and sold stocks
worth approximately Rs 4,999 crore, according to provisional data from the
National Stock Exchange.
Fundamental Update
- Trent - Q1FY26 (YoY) Revenue up 19.8% to Rs
4,781.25 crore versus Rs 3,991.74 crore. Net Profit up 24% to Rs 422.59 crore
versus Rs 342.15 crore. Positive
- GNFC - Q1FY26 (YoY) Revenue down 20.8% to
Rs 1,601 crore versus Rs 2,021 crore. Net Profit down 30% to Rs 83 crore versus
Rs 118 crore. Negative
- Hero MotoCorp - Q1FY26 (YoY) Revenue down 5.6% to Rs
9,578.86 crore versus Rs 10,143.73 crore. Net Profit flat at Rs 1,125.70 crore
versus Rs 1,122.63 crore. Negative
- Jindal Stainless - Q1FY26
(QoQ) Revenue flat at Rs 10,207.14 crore. Net Profit up 21% to Rs 714.16 crore versus
Rs 590.99 crore. Neutral
Technical Update
- NIFTY – Nifty slipped further and closed
lower at 24,575 on Wednesday. Sentiments have been battered over Trump tariff
mania on Indian goods. Index continue to remain under pressure with support now
lies at 24,400 while 24,700 is resistance.
- BANKNIFTY – Bank nifty managed to find strong
support at 55,200 and settled steady at 55,412 on Wednesday. Index has strong
support at 55,000 while 55,650 is near term resistance. Today’s range – 55,000
– 55,650.
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research report. We shall not be in any way responsible for any loss or damage
in analysis or views obtained from the use of information contained in this
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