Nifty ends below 24,800 despite mid-day recovery, tariff woes

The domestic share market indices ended on a lower note on Thursday, as Trump's tariff move weighed on sentiment and pushed Nifty below 24,800. At close, the Sensex was down 296.28 points or 0.36 percent at 81,185.58, and the Nifty was down 86.70 points or 0.35 percent at 24,768.35. For the month of July, Sensex and Nifty lost nearly 3 percent each.
HUL, Jio Financial, Eternal, JSW Steel, ITC were the top gainers on the Nifty, while losers included Adani Enterprises, Dr Reddy's Labs, Adani Ports, Tata Steel, Sun Pharma.On the sectoral front, FMCG rose 1.4 percent, while IT, metal, oil & gas, PSU Bank, pharma, realty, telecom declined 0.5-1.8 percent. On the sectoral front,among sectors, FMCG rose 1.4 percent, while IT, metal, oil & gas, PSU Bank, pharma, realty, telecom declined 0.5-1.8 percent. The BSE Mid and Smallcap indices shed 0.7 percent each, underperforming the main indices.
Rupee Close:
On 31 July'25,the Indian rupee recovered 22 paise from its all-time low to 87.58  against the US dollar on Thursday, amid lower crude prices and suspected RBI interventions, after US President Donald Trump's announcement of 25 per cent tariffs on Indian imports and a penalty for buying Russian Crude.Forex traders say following the US' imposition of a 25 per cent tariff on Indian exports triggered risk-off sentiment and heightened concerns regarding further rupee depreciation.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments stated, following a turbulent start driven by fresh tariff threats, the Indian market started on a pessimistic note. However, domestic market attempted a strong recovery but by the end of the day it closed with marginal losses, on a monthly expiry day.Investors gravitated toward domestically oriented, non-discretionary players, especially FMCG, which offered attractive valuations, demand outlook and relative insulation from tariff risks. In contrast, oil & gas stocks were the worst hit due to US warnings over Indian energy imports. Overall, the market reflected a cautious yet selective approach. Market continues to hold high hopes for a more favorable tariff outcome in the near-term.
Market experts recommended three shares to buy on Thursday, VETO, FACT, and Havells India.

(Business Correspondent)