How will Trump’s tariff announcement impact Indian stock market?

July 31, 2025

Indian equities are expected to decline following Trump’s tariff announcement, as indicated by a drop in GIFT Nifty futures. Nilesh Shah of Kotak Mahindra AMC anticipates a negative market reaction, despite expectations of a trade deal due to aligned US-India strategic interests. Export-oriented sectors are likely to face the most significant impact.

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