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Sensex, Nifty trade lower with marginal losses amid Trump’s tariff worries
Jul-09-2025

Indian equity benchmarks made flat-to-negative start on Wednesday following mixed global cues after U.S. President Donald Trump offered no exceptions to his August 1 tariff start date. Trump also announced a 50 percent tariff on copper imports and hinted at a potential 200 percent tariff on pharmaceuticals. Sensex and Nifty are trading lower with marginal losses in early deals amid selling in Realty, Metal and Oil & Gas counters. Foreign fund outflows also dented domestic sentiments. Foreign institutional investors (FIIs) sold shares worth Rs 26 crore on Tuesday. Traders took note of an Australian official’s statement that India is in talks with Australia to source rare earth minerals. The development assumes significance in the wake of rare earth magnet shortage caused by Chinese export restrictions.

On the global front, Asian markets are trading mostly higher with marginal gains, following the mixed cues from Wall Street overnight, as traders are reluctant to make significant moves amid the lingering uncertainty about US trade policy after US President Donald Trump delayed the reciprocal tariff deadline until August 1. Besides, data showed China's consumer price inflation grew slightly in June while producer prices plunged 3.6 percent in the month, marking its largest decline since July 2023.

The BSE Sensex is currently trading at 83553.48, down by 159.03 points or 0.19% after trading in a range of 83519.41 and 83697.83. There were 11 stocks advancing against 19 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.14%, while Small cap index was up by 0.40%.

The top gaining sectoral indices on the BSE were Consumer Durables up by 1.12%, Healthcare up by 0.41%, FMCG up by 0.33%, Telecom up by 0.31% and Consumer discretionary up by 0.25%, while Realty down by 0.99%, Metal down by 0.48%, Oil & Gas down by 0.42%, IT down by 0.36% and Bankex down by 0.33% were the top losing indices on BSE.

The top gainers on the Sensex were Asian Paints up by 1.87%, Hindustan Unilever up by 0.88%, Titan Co up by 0.52%, Maruti Suzuki up by 0.44% and Bharti Airtel up by 0.35%. On the flip side, Tata Steel down by 1.02%, ICICI Bank down by 1.00%, HCL Technologies down by 0.86%, Larsen & Toubro down by 0.68% and Infosys down by 0.58% were the top losers.

Meanwhile, Trade and Investment Commissioner, New South Wales Government, Australia, Malini Dutt has said that India is in talks with Australia to source rare earth minerals. The development assumes significance in the wake of rare earth magnet shortage caused by Chinese export restrictions. She said ‘India and Australia are talking about rare earth and there are blocks available. So there is an opportunity for India to take an early-stage block and have tie-ups with a few companies’. Besides rare earth, she said both private and public sectors in India have shown interest in copper blocks in Australia.

She said ‘There is a lot of interest around copper as well, given some of the conversations I have had. The interest is both from private sector and a PSU which is quite on the hunt for copper (blocks)’. she explained ‘you are aware there are smelters and companies like Adani has made a big investment. There is capacity available. There is an abundance of copper. That is one area people are looking at’.

China's restrictions on the export of rare earth elements and related magnets are affecting the domestic auto and white goods sectors. China controls over 90 per cent of the global processing capacity for magnets, used across multiple sectors including automobiles, home appliances and clean energy. Critical materials include samarium, gadolinium, terbium, dysprosium and lutetium, which are essential in electric motors, braking systems, smartphones and missile technology.

The CNX Nifty is currently trading at 25483.85, down by 38.65 points or 0.15% after trading in a range of 25472.05 and 25525.05. There were 23 stocks advancing against 27 stocks declining on the index.

The top gainers on Nifty were Asian Paints up by 1.97%, Hindustan Unilever up by 0.93%, Shriram Finance up by 0.88%, JIO Financial Serv. up by 0.75% and Cipla up by 0.69%. On the flip side, Tata Steel down by 1.15%, ICICI Bank down by 1.02%, HCL Technologies down by 0.98%, Wipro down by 0.80% and Larsen & Toubro down by 0.67% were the top losers.

Asian markets are trading mostly in green; Nikkei 225 surged 19.03 points or 0.05% to 39,707.84, KOSPI rose 16.75 points or 0.53% to 3,131.70, Jakarta Composite gained 14.31 points or 0.21% to 6,918.70, Shanghai Composite strengthened 10.21 points or 0.29% to 3,507.69, Taiwan Weighted added 9.61 points or 0.04% to 22,371.88 and Straits Times was up by 8.15 points or 0.2% to 4,056.01, while Hang Seng declined 202.67 points or 0.85% to 23,945.40.
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