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Trump New Tariffs On Pharma-Copper: Global trading trends on the Indian stock market are going to have a big impact on Wednesday. Investors will also keep an eye on crude oil to foreign institutional investors and domestic institutional investors. Due to the trading of gift Nifty at 25,584.50, it is expected that the domestic market may start weak today. The Indian market closed with an edge a day earlier, where the Sensex closed down by 0.32 percent i.e. 270.01 points, while the Nifty also climbed 0.24 percent i.e. 61.20 points to close at 25,522.20.
Mixed business in Asian market
A mixed business has been seen in the Asian market on Wednesday. While Nikkei of Japan jumped 0.33 percent, the topics index also climbed up a little. South Korea’s Kospi also gained an edge. At the same time, Kosdack rose 0.29 percent. On the other hand, Australia’s stock market was a decline and ASX 200 slipped around 0.26 percent. The market is maintaining vigilance after US President Donald Trump refuses to extend the new rates of tariffs from August 1.
10 percent new tariffs above BRICS countries
Here, President Donald Trump has announced a 10 percent new tariffs over India, China, Russia, Brazil and South Africa, which is included in BRICS countries, indicating new tension. He said that soon a new tariff will be announced on the BRICS countries and all its member countries will be applicable. He will neither delay the implementation of tariffs on social media trousers nor will its time limit be extended.
Along with this, Trump has announced a 50 percent tariff on copper and threatened to impose a tariff of up to 200 percent on pharmaceutical products coming in America. However, he has also talked about giving exemption in the time limit of one to one and a half years for this.
Decline in crude oil
On Wednesday morning, crude oil saw a decline, WTI i.e. West Texas Intermediate Crude was trading at $ 68.12 by going down 0.09 percent. While Brent crude is being sold down 0.12 percent to $ 69.94 per barrel.
Pressure on US market
The US market closed on Tuesday amid pressure. S&P 500 fell by 0.07 percent and it closed at 6,225.52, while Nasdech saw a slight increase of 0.03 percent and it closed at 6,225.52. However, Nasdaq rose up 0.03 percent and closed at 20,418.46. While Nasdaq fell 165.60 points i.e. 0.37 percent to 44,240.75.
Also read: Bangladesh will be pauper with this decision of Trump, but the ways of India become rich!
