Items like steel, aluminium, autos, and auto parts already face higher sectoral levies, ranging from 25 per cent to 50 per cent since April
India Stock Market Opens Flat, Currently in a “Wait and Watch” Phase
India Stock Market on July 7 latest news: Indian stock markets opened flat on Monday as investors remained cautious amid growing uncertainty over U.S. tariffs and ahead of the July 9 U.S. tariff deadline. According to experts, the market is likely to remain volatile.
U.S. President Donald Trump also warned countries aligning with BRICS nations of an additional 10% tariff on Monday. His warning comes after India signed a BRICS declaration condemning Trump's tariff measures.
According to an ANI report, on Monday, the Nifty 50 index opened at 25,439.40, showing almost no change, while the BSE Sensex was also trading flat at 83,371.63, down by 61.26 points or 0.07 per cent.
Market expert Ajay Bagga told ANI that for this week and for July President Trump’s focus will shift back to tariffs and trade.
“Trump has triumphed in getting his 'One Big Beautiful' tax and spending bill passed by the U.S. Congress. Now he will focus on tariffs. There is constant news flow on this front, and we expect many reversals,” Bagga said.
He added, “What seems to be the action plan is, first, over 100 countries will receive letters levying 10 per cent universal tariffs effective August 1 on their imports to the U.S. Second, the top 12 major trading partners will be pressured into signing deals with the Trump administration before August 1, with threats of higher tariffs.”
Bagga further noted that India has time until August 1 to negotiate, giving it a few weeks for further discussions.
As per the report, Bagga also stated that items like steel, aluminium, autos, and auto parts already face higher sectoral levies, ranging from 25 per cent to 50 per cent since April this year. He also mentioned that countries such as the EU, Japan, South Korea, and India are standing firm in their trade negotiations with the U.S.
The report added that among sectoral indices on the NSE, most sectors were in the red. Nifty Media fell by 0.76 per cent, while Nifty IT declined by 0.49 per cent. However, a few sectors showed strength — Nifty FMCG, Nifty PSU Bank, and Nifty Realty were trading in the green at the time of filing this report.
Sunil Gurjar, SEBI-registered research analyst and founder of Alphamojo Financial Services, stated that the Indian market is currently in a “wait and watch” phase as investors pause ahead of key developments.
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