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Domestic equity markets are set to open on a cautious note Thursday, as US President Donald Trump's 50 per cent tariffs on select Indian exports take effect today, weighing heavily on export-driven sectors.

At 7:25 AM, GIFT Nifty futures were trading 70 points lower, down 0.29 per cent, indicating a soft start for the benchmark indices.

While Indian equities remain under pressure, most Asian markets traded higher following a mixed overnight session on Wall Street.

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Japan's Nikkei: +0.3 per cent

South Korea's Kospi: +0.3 per cent

MSCI Asia Pacific Index: Firm tone led by regional gains

US markets closed modestly higher on Wednesday, with the S&P 500 up 0.24 per cent and the Nasdaq rising 0.21 per cent. However, US equity futures dipped in Asia hours after Nvidia's sales guidance disappointed, raising concerns over the sustainability of AI-led growth.

The new 50 per cent US tariffs, among the steepest in Asia, target Indian goods in response to continued Russian oil imports. The move poses a risk to labour-intensive sectors such as:

Apparel & Textiles

Auto Components

Engineering Goods

Gems & Jewellery

Shrimp & Carpets

According to GTRI, the US accounts for $81 billion of India’s $443 billion in merchandise exports — equivalent to 2 per cent of India’s GDP.

Mainboard IPOs:

Anlon Healthcare and Vikran Engineering enter Day 2

Mangal Electrical Industries to list today

SME IPOs:

Globtier Infotech and NIS Management close today

Oval Projects Engineering opens for bidding

Current Infraprojects and Sattva Engineering Construction enter Day 2

What to Watch Today

Opening reactions to US tariffs

Movement in export-heavy stocks

Market breadth amid global divergence

Listing performance of Mangal Electrical

Subscription data from ongoing IPOs

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Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.