Gift Nifty indicates a flat to positive start for the Indian market; US Market closed lower; Asian markets opened higher

PRE MARKET

Gift Nifty indicates a flat to positive start for the broader index in India, with a loss of 18.5 points or 0.07 percent. The Nifty futures were trading around 25,497.50 level.

Wall Street’s major indexes closed sharply lower on Monday, after U.S. President Donald Trump announced hefty tariffs against Japan, South Korea, and other trading partners. Meanwhile, Tesla shares sank after CEO Elon Musk announced he was forming a new U.S. political party.

Indexes added to losses after Trump announced the tariff rates against Japanese and South Korean imports, which are set to take effect on August 1. Stocks wobbled further in the late afternoon when he announced hefty tariffs on Malaysia, Kazakhstan, South Africa, Laos, and Myanmar.

The Dow Jones Industrial Average fell 422.17 points, or 0.94%, to 44,406.36, the S&P 500 lost 49.37 points, or 0.79%, to 6,229.98 and the Nasdaq Composite lost 188.59 points, or 0.91%, to 20,412.52.

Asian shares edged higher as President Donald Trump left the door open for additional negotiations after imposing new tariff rates on partners including Japan and South Korea.

Japan’s Nikkei, Hong Kong’s Hang Seng, and the KOSPI index went up 0.31, 0.68 and 1.10 percent respectively.

STOCKS TODAY

Navin Fluorine International

The company launched its Qualified Institutional Placement (QIP) on July 7 to raise to Rs 750 crore. The floor price has been fixed at Rs 4,798.28 per share.

Refex Industries

The company has secured an order worth Rs 250 crore for comprehensive ash disposal along with operation and maintenance of fly ash systems from a prominent GENCO. The contract is for a tenure of three years.

SPML Infra

The company has received sanction for enhanced credit facilities amounting to Rs 205 crore to boost its project execution capabilities.

JSW Infrastructure

The company has received a Letter of Award from the Syama Prasad Mookerjee Port Authority for the reconstruction of Berth 8 and mechanization of Berths 7 and 8 at Netaji Subhas Dock, Kolkata. The project comes with a 30-year concession period, and the estimated capital expenditure (capex) is Rs 740 crore.

Source – Moneycontrol