GIFT Nifty Drops Over 80 Points After Donald Trump Levies Additional 25% Tariffs On India

Trump Tariff Impact: The Indian stock market eyes a gap-down opening on Thursday, Aug. 7, after US President Donald Trump imposed additional 25% tariffs on Indian goods for purchasing Russian crude oil.

At 7:45 pm, Gift Nifty trades around 24,548.50, down nearly 81 points, a discount of 79 points from the Nifty futures’ previous close at 24,628, indicating a muted start for the Indian stock market on Aug. 7, 2025.

GIFT Nifty operates in two trading sessions. The first session runs from 6:30 a.m. to 3:40 p.m. IST. The second session begins at 4:35 p.m. and continues until 2:45 a.m. the following day. The Indian stock market settled lower today dragged by rate-sensitive stocks after the RBI held key rates and maintained a 'neutral' stance, disappointing expectations of a dovish tilt, while concerns over ongoing US tariffs weighed on IT and pharma.

Trump's latest move comes a week after he announced 25% reciprocal tariffs against the country, starting from Aug. 7, citing wide "fiscal deficit" between India-US trading relations. After the order, the total tariff on Indian goods, barring a small exemption list, will effectively be 50%.