On the institutional activity front, FIIs net sold shares worth ₹4,994.24 crore, while DIIs net bought equities of ₹3,097.24 crore, on April 8.
It could be easier for India to deal with reciprocal tariffs by increasing imports from the US to protect its existing exports to the US, said analysts at Kotak Institutional Equities.
The US claims India charges a 52% per cent tariff on US imports, but where does this figure come from? Let's find out
Goods from Canada and Mexico are not currently subject to reciprocal tariffs because Trump's prior 25 per cent fentanyl-related duties remain in place on their goods
In the previous session, Sensex gained 592.93 points (0.78 per cent) to close at 76,617.44, while Nifty50 rose 166.65 points (0.72 per cent) to settle at 23,332.35
US-India trade talks continue as India assesses the impact of the tariffs imposed by the Trump administration on Indian imports
The Federation of Indian Export Organisations (FIEO), the apex body representing Indian exporters, acknowledged that the new tariffs would impact Indian businesses
The new duties are due to take effect immediately after Trump announces them, while a separate 25 per cent global tariff on auto imports will take effect on April 3
Trump confirms global rollout of 'Liberation Day' tariffs from April 2, sparking concern over trade wars; India considers lowering import duties to avoid impact
Analysts at Barclays, meanwhile, estimate that nearly $22 billion worth of India's exports (30 per cent of exports to the US and 5 per cent of total goods exports) are most at risk
In the previous session, the Sensex dropped 728.69 points (0.93 per cent) to close at 77,288.50, while the Nifty50 ended 181.8 points (0.77 per cent) lower at 23,486.85
The fall in auto stocks came after the US President Donald Trump, on Wednesday, announced that he would impose a 25% tariff on all cars imported into the US that are not manufactured domestically
The government decided to remove import duty on EV batteries and mobile phones to help local producers withstand the potential impact of reciprocal US tariffs
In an internal analysis, New Delhi estimated such reciprocal tariffs would hit 87 per cent of its total exports to the United States worth $66 billion
JPMorgan Chase CEO Jamie Dimon's comments come as stock markets have been affected by changing tariff policies and investor confidence remains shaky amid trade tensions
China on Saturday announced retaliatory tariffs on some Canadian farm and food imports, after Canada imposed duties in October on Chinese-made electric vehicles and steel and aluminum products. The new duties become effective March 20, according to a statement by the Customs Tariff Commission of the State Council. Additional 100% tariffs will be imposed on Canadian rapeseed oil, oil cakes and peas, and additional 25% tariffs will apply to pork and aquatic products. The tariffs add to global trade tensions already high, with rounds of tariff announcements by the United States, China, Canada and Mexico. The duties come in retaliation for Ottawa imposing tariffs against Chinese imports in October, including a 100% surtax on all Chinese-made EVs and 25% on steel and aluminum imports. Despite China's repeated opposition and dissuasion, Canada has taken unilateral restrictive measures on electric vehicles, steel, aluminum and other products imported from China without investigation, ...
ArcelorMittal Nippon Steel India, a 60-40 joint venture between Luxembourg-based ArcelorMittal and Japan's Nippon Steel, did not respond to a request for comment
Investigation reveals that nearly all illegal fentanyl ingredients are made by Chinese companies and then sent to Mexican drug cartels, which produce and distribute fentanyl in the US
The government would take into account the impact of the decision on food inflation, said another government source who also did not wish to be identified, citing official rules
The latest report by SBI's Economic Research Department suggests that the overall bilateral negotiations between India and US could provide further collateral benefit to India