Sensex, Nifty under pressure, European mrkt opens higher

The headline equity indices traded with significant cuts in the afternoon trade as investor sentiment weakened following fresh tariff threats from U.S. President Donald Trump over India's continued imports of Russian oil. However, market participants will monitor the ongoing earnings season.

The Nifty traded below the 24,650 mark. Consumer durables and auto shares advanced, while oil & gas, FMCG and realty shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex, dropped 415.04 points or 0.51% to 80,602.41. The Nifty 50 index declined 117.85 points or 0.48% to 24,605.25.

In the broader market, the S&P BSE Mid-Cap index fell 0.38% and the S&P BSE Small-Cap index shed 0.32%.

The market breadth was negative. On the BSE, 1,678 shares rose and 2,229 shares fell. A total of 157 shares were unchanged.

Gainers & Losers:

Titan Company (up 2.40%), Trent (up 1.64%), Maruti Suzuki India (up 1.49%), IndusInd Bank (up 1.22%) and SBI Life Insurance Company (up 0.76%) were the major Nifty50 gainers.

Cipla (down 0.158%), Dr. Reddy's Laboratories (down 1.53%), Infosys (down 1.51%), Reliance Industries (down 1.34%) and Adani Enterprises (down 1.16%) were the major Nifty50 losers.

IndusInd Bank rose 1.22% after the bank's board of directors announced the appointment of Rajiv Anand as managing director (MD) and chief executive officer (CEO), effective 25 August 2025, for a term of 3 years.

Trump Tariffs:

U.S. President Donald Trump has announced his plans to significantly raise tariffs on Indian exports to the country.

India is not only buying massive amounts of Russian oil, but they are then, for much of the oil purchased, selling it on the open market for big profits,' Trump reportedly wrote on a social media platform.

India said it was being 'targeted' by the U.S. and the European Union over its imports of Russian oil after U.S. President Donald Trump, in an overnight social media post, threatened New Delhi with much steeper tariffs.

India began importing oil from Russia only after traditional supplies were diverted to Europe following the outbreak of the Russia-Ukraine war in 2022, the Indian foreign ministry reportedly said in a statement.

The ministry stated that it was revealing that the very nations criticizing India'namely the EU and the U.S.'were themselves engaging in trade with Russia.

The EU's bilateral trade with Russia stood at 67.5 billion euros ($78.1 billion) in 2024, while its services trade in 2023 was at 17.2 billion euros, according to European Commission data. Citing that data, India said the bloc's trade was 'significantly more' than India's total trade with Russia.

Economy

The seasonally adjusted HSBC India Services PMI Business Activity Index edged up to 60.5 in July 2025 from 60.4 in June, indicating a sustained expansion in the country's services sector.

Indian service providers reported a notable improvement in international demand, securing new business from Asia, Canada, Europe, the UAE, and the US. The pace of expansion in external sales was sharp, marking the second-fastest growth in a year, trailing only May's performance.

The HSBC India Composite PMI Output Index was up fractionally from 61.0 in June to 61.1 in July, indicating a sharp rate of expansion that was the quickest since April 2024.

Stocks in Spotlight:

Aurobindo Pharma fell 1.76% after the company's consolidated net profit tumbled 10.3% to Rs 824.75 crore despite of 4.5% increase in revenue from operations to Rs 7791.77 crore in Q1 FY26 over Q1 FY25.

Azad Engineering jumped 3.41% after the company's consolidated net profit surged 73.59% to Rs 29.72 crore on 39.30% increase in revenue from operations to Rs 137.09 crore in Q1 FY26 over Q1 FY25.

Angel One shed 1%. The broker's client base jumped 28.18% to 33.06 million in July 2025, compared with 25.79 million in the same month last year. <> GPT Infraprojects jumped 5.19% after the company's consolidated net profit surged 39.84% to Rs 23.48 crore in Q1 FY26 as against Rs 23.48 crore posted in Q1 FY25. Revenue from operations jumped 29.33% YoY to Rs 312.63 crore in the quarter ended 30 June 2025.

Global Markets:

European markets opened higher on Tuesday as investors absorbed a fresh wave of corporate earnings ahead of the release of final regional activity data.

Asian shares advanced, marking a second straight day of gains, as investor optimism grew that the Federal Reserve will take steps to support the world's largest economy.

A few Bank of Japan board members said the central bank would consider resuming interest rate increases if trade friction de-escalates, minutes of its June policy meeting reportedly showed on Tuesday.

At the June 16-17 meeting, the BOJ kept interest rates steady at 0.5% and decided to decelerate the pace of its balance sheet drawdown next year, signaling its preference to move cautiously in removing remnants of its massive stimulus.

Meanwhile, South Korea's consumer prices rose 2.1% in July from a year earlier, slightly slower than the rise of 2.2% in June, government data showed on Tuesday.

On Wall Street, all three major averages soared into the green on Monday, with the Dow Jones Industrial Average recouping its losses from Friday's session.

The blue-chip index climbed 585.06 points, or 1.34%, to finish the day at 44,173.64. Additionally, the broad market S&P 500 and the tech-heavy Nasdaq Composite rocketed higher by 1.47% and 1.95%, ending at 6,329.94 and 21,053.58, respectively.

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