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Pre-market update: Indian benchmark indices are set for a subdued start on Thursday, tracking weak global cues and escalating trade tensions. Sentiment soured after US President Donald Trump imposed an additional 25 per cent tariff on Indian exports, citing continued purchases of Russian crude by New Delhi. With this move, the total tariff burden now stands at 50 per cent, severely denting India’s competitive edge in the US export market.

India has strongly objected to the development, calling the action “unfair, unjustified, and unreasonable.”

At 7:38 AM, GIFT Nifty futures were quoting 60 points lower at 24,573, indicating a negative open for domestic markets.

Markets across the Asia-Pacific region showed mixed trends as traders digested fresh tariff threats from Trump, who vowed to impose 100 per cent tariffs on semiconductor and chip imports. However, companies manufacturing within the US would be exempt.

Japan’s Nikkei 225: Flat

Australia’s S&P/ASX 200: Flat

South Korea’s Kospi: Down 0.12 per cent

On Wall Street, major US indices closed higher on Wednesday, buoyed by strong quarterly earnings:

Nasdaq Composite: +1.21 per cent

S&P 500: +0.73 per cent

Dow Jones: +0.18 per cent

Markets will react to earnings from heavyweights such as Hero MotoCorp, Bajaj Auto, Trent, BHEL, Divi’s Lab, Bharat Forge, and PVR Inox, among others.

Key results expected today include:

LIC, Biocon, Page Industries, Indigo Paints, Apollo Tyres, HPCL, Cummins India, Godrej Consumer, Emcure Pharma, and Kalyan Jewellers.

FII-DII Activity (August 6)

FIIs: Net sellers worth Rs 4,196.77 crore

DIIs: Net buyers worth Rs 5,954.61 crore

Primary Market: IPO Action

Mainboard:

JSW Cement and All Time Plastics IPOs open today

Highway Infrastructure IPO closes

SME Segment:

Sawaliya Foods and Connplex Cinemas IPOs open

Basis of allotment expected for Bhadora Industries, Parth Electricals, Jyoti Global Plast, Aaradhya Disposal Industries, Essex Marine, and BLT Logistics

Commodities Check

Brent Crude: Up 0.91 per cent at $67.50/barrel

WTI Crude: Up 0.93 per cent at $64.95/barrel

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