Stock market today: Sensex, Nifty 50 trade rangebound amid Trump's tariffs uncertainty; experts unveil this strategy

Stock market today: The Sensex and the Nifty 50- frontline indices of the Indian stock market- continued trading rangebound Tuesday (July 8) morning as persisting uncertainty over India-US trade deal weighed on investors' risk appetite even as the broader outlook of the domestic market remains positive due to healthy fundamentals.

Both indices swung between gains and losses, staying rangebound.

The Sensex opened 55 points lower at 83,387.03 against its previous close of 83,442.50, while the Nifty 50 opened 33 points lower at 25,427.85 against its previous close of 25,461.30.

Around 10 AM, the Sensex traded 9 points lower at 83,433, while the Nifty 50 traded 13 points, or 0.05 per cent, down at 25,448.

US President Trump's tariff moves have been keeping the market nervous. Trump has announced sweeping new tariffs, effective 1 August, on imports from 14 countries, including key Asian economies such as Japan and South Korea.

He extended the date for all reciprocal tariffs, with the exception of China, to August 1.

Track Donald Trump Tariff News Live Updates Here

Meanwhile, Trump said the US was close to making a deal with India.

“We are close to making a deal with India. We've made a deal with the United Kingdom. We've made a deal with China,” Trump said answering reporters' questions at the White House on Monday.

Experts highlighted that a deal between the US and India is highly likely. However, the market appears to have largely discounted it, even as some sectors, such as pharma and textiles, are expected to react after the details of possible sectoral tariffs are revealed.

"The announcement of unilateral tariffs on 14 countries and the exclusion of India from the list, along with President Trump’s remark that the US was close to a deal with India, indicate that a trade deal between India and the US will be announced soon. This has already been largely discounted by the market; the unknown areas are the details of possible sectoral tariffs on segments like pharmaceuticals. Market reaction will depend on these details," said VK Vijayakumar, chief investment strategist at Geojit Investments.

(This is a developing story. Please check back for fresh updates.)

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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