Indian markets open with gains amidst US tariff deadline concerns

Indian stock markets opened with gains on Thursday but caution prevailed as investors remained concerned about the looming US tariff deadlineThe Nifty 50 index began the day at 2550510 rising by 5170 points or 020 per cent Similarly the BSE Sensex opened at 8354074 marking a marginal gain of 13105 points or 016 per centMarket experts noted that while domestic factors are supporting the market global volatility especially uncertainties surrounding a potential USIndia trade deal is keeping traders on edgeAjay Bagga a Banking and Market Expert told ANI Indian markets are under the global volatility haze and waiting for a signal on a USIndia trade deal Domestic factors are favouring markets to scale back above alltime highs in the next few weeksBagga further highlighted the impact of recent developments in US trade policyHe said Trumps announcement of a trade deal with Vietnam which involves 20 per cent tariffs on Vietnamese goods exports and 40 per cent tariffs on transshipped goods transiting through Vietnam en route to the US and offers 0 per cent full market access to US goods to the Vietnam markets enthused markets We are in the last five days of the US tariff deadline of July 8th night Most trade deals have stalled on hardening positions on both sides Next week expect volatility as the deadline looms We expect a postponement of the reciprocal tariffs or the levying of a universal tariff of 10 per cent to 20 per centOn the National Stock Exchange NSE broader market indices also opened with gains The Nifty 100 rose by 02 per cent the Nifty Midcap 100 surged by 017 per cent and the Nifty Smallcap 100 increased by 019 per centAmong the sectoral indices Nifty IT showed the strongest performance with a 069 per cent gain Nifty Auto rose by 066 per cent Nifty Metal was up by 045 per cent and Nifty FMCG also gained by 027 per cent in the opening sessionAkshay Chinchalkar Head of Research at Axis Securities provided a technical view on the markets He said The Nifty fell yesterday in what is now a threeday retreat Technically speaking we are only consolidating the bullish rectangle breakout and as long as the 2520025270 area is protected bulls are merely taking a breatherUnder 25200 we risk 25000 On the upside the recent swing high at 25670 is where the bullish trigger lies With the deadline for the tariff pause expiring next week it will be interesting to see if the current optimism globally holds up Today is weekly derivatives expiry so higher than usual volatility may be seenAsian markets showed a mixed trend Japans Nikkei 225 index was flat and in the red at the time of reporting Hong Kongs Hang Seng index declined by 088 per cent and Singapores Straits Times index was down by 011 per centOn the positive side Taiwans Taiwan Weighted index jumped by 09 per cent while South Koreas KOSPI rose by 095 per centOverall Indian markets opened on a positive note but investors are keeping a close watch on the approaching tariff deadline and global trade developments which may determine the next move for the marketsThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever