Overview
- President Trump signed an executive order imposing 25% tariffs on U.S.-bound Indian exports, effective August 7, with additional levies linked to India’s energy purchases.
- India’s benchmark indices fell sharply on August 1, with the Sensex dropping 586 points to about 80,600 and the Nifty sliding 203 points to 24,565.
- Foreign portfolio investors sold ₹5,588.91 crore of Indian equities while domestic institutional investors bought ₹6,372.71 crore, reflecting a shift in capital flows.
- The offshore rupee weakened by nearly 1%, trading at its weakest forward level since February on renewed trade-policy uncertainty.
- MSCI’s Asia-Pacific index declined around 0.4% as regional markets extended losses and investors awaited U.S. jobs data for clues on the Fed’s next move.