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Again, whether we will only have a shallow correction or a meaningful one remains to be seen, but for now we have seen worst of tariff news flow. And in a few months, rates will settle down to more acceptable levels. Any knee jerk correction in the market would be a good opportunity for increasing allocation to equity as the macro and the long term fundamentals of India are fairly strong.

The GIFT Nifty had slumped 200 points following US President Donald Trump’s tariff announcements on India.

The first ticks are yet to emerge this morning and that will indicate how are own markets are likely to start off.

The Nifty had a strong start to the week on Monday, registering healthy gains.

However, over the next two sessions, the index has given up all of those gains and is back to last Friday’s closing levels.

US President Donald Trump on Wednesday evening signed an executive order to impose another 25% tariff on Indian exports, which took the total levy to 50%.

The first half of the tariff levy takes effect from tonight, as it does for other countries as well.

The additional 25% levy on India will take effect in 21 days of signing of the Executive order, which is towards the end of August.

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