Nifty, Sensex open flat; experts note tariff deadline may be extended till August
Indian stock markets opened flat on Monday as investors stayed cautious ahead of the US tariff deadline. Uncertainty around US President Donald Trump's next move on trade policy has kept global investors on edge, with markets reacting to developments around the July 9 deadline.
ANI
Jul 07, 2025 10:22 IST
Mumbai (Maharashtra) [India], July 7 (ANI): Indian stock markets opened flat on Monday as investors stayed cautious ahead of the US tariff deadline. Uncertainty around US President Donald Trump's next move on trade policy has kept global investors on edge, with markets reacting to developments around the July 9 deadline.
The Nifty 50 index opened at 25,439.40, showing almost no change, while the BSE Sensex was also trading flat at 83,371.63, down by 61.26 points or 0.07 per cent.
Market expert Ajay Bagga told ANI that President Trump is now likely to focus more on tariffs and trade. He said, "Big picture for this week and July is that Trump's focus moves back to tariffs and trade. Trump has triumphed in getting his "One Big Beautiful" tax and spending bill passed by the US Congress. Now he will focus on tariffs. There is constant news flow on this front and we expect many reversals."
According to Bagga, the action plan from the US appears to be the imposition of a 10 per cent universal tariff on imports from over 100 countries starting August 1. Meanwhile, the US is expected to pressure its top 12 trading partners to sign trade deals before that date by threatening higher tariffs.
Speaking about India, Bagga added, "What seems to be the action plan is first, over 100 countries will get letters levying 10 per cent universal tariffs as of August 1st on their imports into the US. Second, the major top 12 trading partners will be pressured into signing deals with the Trump administration before August 1st, with threats of higher tariffs. What about India? We have time till August 1st now, so there is a few week time to negotiate further."
He also mentioned that items like steel, aluminium, autos, and auto parts already face higher sectoral levies ranging from 25 per cent to 50 per cent since April 2025. Countries like the EU, Japan, South Korea, and India are standing firm in their trade talks with the US.
In the broader markets, the Nifty Midcap 100 slipped slightly by 0.06 per cent, and the Nifty Smallcap 100 also remained in the red with a marginal decline of 0.04 per cent.
Among sectoral indices on the NSE, most sectors were in the red. Nifty Media fell 0.76 per cent, while Nifty IT declined by 0.49 per cent. However, a few sectors showed strength. Nifty FMCG, Nifty PSU Bank, and Nifty Realty were trading in the green at the time of filing this report.
The market is expected to remain volatile as investors track ongoing global developments.
Sunil Gurjar, SEBI-registered research analyst and founder of Alphamojo Financial Services, said, "The Indian market is currently in a 'wait-and-watch' phase as investors pause ahead of new developments. A breakout above the 26,364 resistance level would signal a continuation of the uptrend."
He added that Nifty continues to look positive from a technical perspective, as it is trading above all key moving averages, which indicates the possibility of further upward movement in the market. (ANI)
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