Markets bounce back late despite Trump's tariff turmoil

The domestic share market rebounded in the final hour after a day of weakness,despite lingering concerns over the U.S. President’s move to hike tariffs on Russian oil imports and the potential 100% duties on semiconductors.At close, the Sensex was up 79.27 points or 0.10 percent at 80,623.26, and the Nifty was up 21.95 points or 0.09 percent at 24,596.15.
Hero MotoCorp, Tech Mahindra, Wipro, Eternal, JSW Steel were the top gainers on the Nifty, while losers included Adani Enterprises, Adani Ports, Trent, Tata Motors and Grasim Industries.On the sectoral front,all the sectoral indices recovered most of the intraday losses with IT, media, pharma rising 0.5-1 percent.BSE Midcap index up 0.3 percent and smallcap index ended on flat note.
Rupee Close:
On 7 Aug'25,the Indian rupee consolidated in a narrow range and settled for the day higher by just 3 paise at 87.70 against the US dollar on Thursday, after US President Donald Trump imposed an additional 25 per cent duty -- doubling it to 50 per cent -- on Indian goods, denting market sentiments.Forex traders said weak crude oil prices and a decline in the US Dollar index supported the rupee. However, muted domestic markets and foreign fund outflows capped sharp gains.Moreover, Trump's aggressive move, which kicks in 21 days, threatens to raise total duties on select Indian exports to as high as 50 per cent making them among the most heavily taxed US imports globally, further dented market sentiments.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated, domestic equities recovered sharply from the intraday lows amid a volatile weekly expiry day. Although the earlier trade was weighed down by broad-based selling following steep US tariff hikes on India, sentiment improved toward the close as reports of potential peace talks involving Trump, Putin, and Zelensky which raised hopes of a softer US stance on trade.This renewed optimism triggered a strong rebound in the auto, pharma, metals, and energy sectors and aided the market in recalling its trajectory and concluding in the green.
Market experts recommended five shares to buy on Thursday-Paradeep Phosphates, Cupid, Zuari Agro Chemicals, Global Health, and Metropolis Healthcare.

(Business Correspondent)