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2h ago

Markets Set for Muted Start as U.S. Tariff Truce Nears Expiry

The July 9 expiry of the U.S. tariff reprieve is adding caution to markets ahead of June manufacturing PMI following significant corporate deal activity.

A person rests under the intense sun near an electronic stock board displaying Japan's Nikkei index at a securities firm Tuesday, July 1, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, July 1, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
A person looks at an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, July 1, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
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Overview

  • Sensex and Nifty hit intraday highs on June 30 but profit-taking in bank and auto stocks snapped Sensex’s four-day rally, although small and midcap indices closed modestly higher.
  • The S&P 500, Nasdaq Composite and Dow Jones all closed at record highs as optimism over extended U.S. tariff relief and renewed trade negotiations followed Canada’s rollback of its digital services tax.
  • Asian Paints agreed to acquire the remaining 40% stake in Obgenix Software for ₹188 crore, Mazagon Dock approved a $52.96 million controlling stake purchase in Colombo Dockyard and BHEL secured orders to supply equipment for six 800 MW thermal power units.
  • Hindustan Aeronautics declared a final dividend of ₹15 per share, Waaree Solar Americas booked a 540 MW U.S. solar module contract and Jyoti CNC non-promoters lined up a roughly 6% block deal stake sale.
  • An SEC court filing confirmed that summons and complaints against Gautam and Sagar Adani in the alleged $265 million bribery case have yet to be served, keeping legal scrutiny on the Adani Group in focus.