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Nifty Live: GIFT Nifty Down 0.6%
The GIFT Nifty futures contracts are down 0.6% at 24,707.
Stock Market LIVE: 54 Dividend Stocks In Focus Ahead Of Record Date: Maruti Suzuki, Marico, Eicher, BHEL, Varun Beverages
Shares of Maruti Suzuki India Ltd., Marico Ltd., Eicher Motors Ltd., Bharat Heavy Electricals Ltd., Varun Beverages Ltd. and 49 other companies will be of interest on Thursday, as it marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
Under India’s T+1 settlement cycle, shares purchased on the record date itself will not qualify for the dividend payment. Hence, if the record date of a dividend stock is Aug. 1, then shares must be purchased by July 31.
Stock Market Live: Brokerages On Trump Tariffs
Morgan Stanley
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At an aggregate level, India’s goods exports to the US are 2.2% of GDP
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This implies a less severe direct impact of tariff-related developments
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Further, nuances will emerge at the sector level on the basis of the tariff differential with other economies and exposure to the US
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Remain watchful of the developments from the next round of negotiations
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The second order impact of the tariffs through weaker corporate confidence and deferred capex cycle, which in our view is likely to be more pronounced
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Textiles make up comprise close to half of India’s overall exports, while the share of pharma products is 40%
Nuvama
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India’s goods exports to the US may be hurt, but it is small as a share of GDP
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Some loss in exports to the US could be offset by redirecting exports to other nations
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Recent INR weakness, if it sustains, could also work to limit the tariff impact
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Bigger implication of the US tariffs could be the shrinking of US trade deficit, especially amid weaker USD and higher rates
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This shall impart a deflationary impulse to the global economy, hurting trade, growth and earnings everywhere
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This will keep markets volatile as FII flows could soften – key market movers now
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See more global monetary easing is likely down the line
Dam Capital
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Final tariffs for some ASEAN countries have now come through, at lower than the 25% for India
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India has stood its ground in not agreeing to lowering tariffs for agri-products
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India can gain if the tariffs on China remain substantial
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If most of the adverse effects eventuate, the worst case impact would be 30 bps to GDP growth
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Greater immediate macro impact depends on whether FII outflows & INR depreciation accelerate
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Negative: Auto, Renewables (higher tariffs relative to competition)
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Neutral for now: EMS, Cap goods, Steel/ aluminium, Oil & Gas, Pharma
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Mixed: Chemicals, Textiles (dependent on final tariff rate for Bangladesh)
Stock Market Live: Gold Prices Rise As US Economic Activity Rebounds
Gold prices rebounded in Asia session after data showed that US economic activity rebounded in the second quarter. US’s inflation adjusted GDP grew 3% on the year during April–June from a 0.5% shrink in the previous quarter, as Bloomberg reported.
Gold futures were trading 0.23% down at $3,344 as of 7:43 a.m.
Oil Prices Snap Three-Day Gaining Streak As
Oil prices declined in Asia session as concerns rose after US President Donald Trump threatened to impose penalty on India for Russian oil purchase.
The October future contract of Brent crude was trading 0.07% down at $72.42 a barrel as of 7:38 a.m.
Stock Market Live: Hang Seng And CSI 300 Fall Over 1%
The Hang Seng and CSI 300 fell sharply on Thursday as manufacturing activity slowed more than expected in China. The official Manufacturing Purchasing Index for July came at 49.3 against expectation of 49.7.
The Hang Seng and CSI 300 were trading 1.52% and 1.28% respectively as of 7:34 a.m.
US Market Update: Nasdaq 100 Futures Rises Over 1% As Tech Earnings Boosts Optimism
The Nasdaq 100 and S&P 500 futures rose sharply in Asia session as earnings from megacap technology firms boosted sentiments. Further, the dollar index steadied after the US Federal Reserve kept the interest rate steady.
The Nasdaq 100 and S&P 500 futures were trading 1.24% and 0.86% higher, respectively as of 7:28 a.m.
Stock Market Live: GIFT Nifty Implies Gap-Down Open; Indraprastha Gas, Kaynes Tech, Tata Motors In Focus
The GIFT Nifty was trading 0.04% or 11 points higher at 24,666 as of 6:34 a.m., which implied a positive open for the NSE Nifty 50.
Traders will monitor share prices of Indraprastha Gas Ltd., Tata Steel Ltd., Kaynes Technology India Ltd., and oil refineries and marketing stocks due to overnight news flow and first-quarter earnings.
India’s benchmark equity indices ended higher for a second consecutive session on Wednesday as better-than-expected earnings pulled up heavyweight Larsen & Toubro Ltd. to help offset decline in Tata Motors Ltd. and Reliance Industries Ltd.
The NSE Nifty 50 settled 140 points or 0.14% higher at 24,855, managing to hold above the support level of 24,750. The BSE Sensex added 144 points or 0.18% to close at 81,481.86.
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