New Delhi, June 24, 2025: Indian stock markets opened flat on Monday amid uncertainty over US President Donald Trump’s next move on trade tariffs, with global investors closely watching developments around the July 9 deadline. The Nifty 50 index opened at 25,439.40, nearly unchanged, while the BSE Sensex edged slightly lower by 61.26 points to 83,371.63.
Trump’s Tariff Strategy Adds to Market Nervousness
Market expert Ajay Bagga told that President Trump’s focus has now shifted back to trade after successfully pushing a major tax and spending bill through the US Congress.
“Big picture for this week and July is that Trump’s focus moves back to tariffs and trade,” said Bagga.
“There is constant news flow on this front and we expect many reversals.”
Bagga added that the US is planning to impose a 10% universal tariff on imports from over 100 countries starting August 1, including pressure on the top 12 trading partners — India among them — to strike trade agreements before that deadline.
“We have time till August 1st now, so there is a few weeks to negotiate further,” he added.
India and Others Brace for Trade Talks
Sectors such as steel, aluminium, autos, and auto parts are already facing increased levies between 25% and 50% since April 2025. Countries like India, the EU, Japan, and South Korea have been holding their ground in ongoing trade negotiations.
Broader Market and Sectoral Trends
In the broader market, the Nifty Midcap 100 dipped by 0.06%, and the Nifty Smallcap 100 saw a 0.04% decline. On the sectoral front:
- Nifty Media fell by 0.76%
- Nifty IT declined 0.49%
- Nifty FMCG, Nifty PSU Bank, and Nifty Realty were trading in the green
Market Outlook: Cautious Optimism
Sunil Gurjar, SEBI-registered analyst and founder of Alphamojo Financial Services, said the markets are in a “wait-and-watch” mode:
“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.”
From a technical standpoint, Gurjar added that Nifty remains positive, trading above key moving averages — a bullish signal for potential upward momentum.
With volatility expected to persist, all eyes are now on the July 9 deadline and how trade dynamics evolve between the US and its major partners, including India.