NDTV Profit Pulse On April 03 —Top 8 Stories At 8 P.M. Under 8 Minutes
From the US indices dipping sharply at market open to pharma gaining a boost on tariff exemptions, here are today's top headlines.
In today's tariff-heavy edition of Profit Pulse, focus is on the sharp dip in oil prices, and US indices after US President Trump unveiled sweeping tariffs for global trade, with India standing in the middle with a 27% levy.
Read to see what analysts predict for Indian exports and gross domestic product, and how the Commerce Ministry expects the tariffs to be a mixed bag.
(There's some regular business updates, too.)
Here’s a quick roundup of today’s key headlines:
Oil Sees Sharp Drop
Oil prices plummeted, with West Texas Intermediate falling as much as 5.07% to $66.88 a barrel, following President Trump's implementation of significant tariffs on major trading partners like China and the European Union. These tariffs escalated a trade war, raising concerns about a decline in global demand.
Oil, natural gas and energy products are among exempted goods, the White House said, sparing fuel markets from the brunt of the measures.
Read on to know how liquid gold is faring as the global markets reel from the tariff spree.
US Stocks Open In The Red
US markets opened sharply lower, with the Dow Jones down 2.64%, the S&P 500 falling 3.53%, and the Nasdaq declining 4.67%. This downturn followed tariff announcements early in Trump's presidency, prompting equity strategists to revise their forecasts downward.
Indian indices also closed negatively, with the Nifty 50 down 0.35% and the Sensex down 0.42%.
Catch the whole market wrap here.
Exports And GDP To Take A Beating?
Experts believe the impact of the recent Trump trade tariffs in terms of export losses to the US is estimated at $30-35 billion for India, and in terms of GDP growth, the impact is currently estimated at 0.7-0.8%.
The tariffs are much higher than what would have been implied by reciprocal tariff differentials and likely include non-tariff barriers in the calculation, they add.
Read more to know what economists foresee for India and global trade after the tariffs.
Tariffs A Mixed Bag
Commerce Ministry officials suggest that the effects of the US's recently imposed reciprocal tariffs will be mixed, with some Indian sectors potentially impacted negatively, while others may gain a competitive advantage over nations like Vietnam and Indonesia.
India is monitoring the impact of the tariffs, which include a 10% baseline duty effective April 05 and an additional duty totaling 27%, following comparisons of India's 12% average tariff on US imports versus the US's previous 3% on Indian goods.
Trump Won't Win A Global Trade War: Jim Rogers
Veteran investor Jim Rogers predicts an impending recession in the United States, attributing it in part to President Donald Trump's trade policies. "I am sure of recession in the US. We haven't had a problem since 2009. A problem is overdue and it is coming," Rogers stated during an interview with NDTV Profit.
Rogers believes that Trump's actions are exacerbating the US economic challenges. "The challenge for the US economy is aggravated by the actions of Trump," he suggested, further adding that the president had "no idea what he wants" in terms of trade policy, ultimately pushing the world towards a global trade war.
Auto Tariff Impact
The new blanket tariff of 25% on foreign auto products could have an impact on Indian auto manufacturers, like Tata Motors, Sona BLW and Samvardhana Motherson among others, according to analysts.
Read to know how these key players in the auto space may be impacted going ahead.
Pharma Stocks Buck The Trend
The NSE Nifty Pharma index surged on Thursday, reaching a more than one-month high, fueled by sector-wide relief following its exclusion from President Trump's new tariffs.
Sun Pharmaceutical Industries Ltd. and Cipla Ltd. were key contributors to the index's gains. Defying the overall market's downward trend, the pharma benchmark peaked at an intraday high of 4.98% and closed 2.25% higher.
Read to see how drugmakers performed in the markets today.
DMart Stores Count At Four-Year High
In its quarterly business update, DMart parent Avenue Supermarts Ltd. stated that it added 28 stores in the fourth quarter fiscal 2025, the highest quarterly additions since it started reporting business updates more than four years ago.
The company's standalone revenue from operations rose 17% for the second straight quarter to Rs 14,462 crore, according to an exchange filing on Thursday.
Here's what growth concerns and competitive pressures analysts raise over Avenue Supermarts.
Here are other top stories that you cannot miss
Trump's Tariff Twist: From Greek Math To Deficit Division
SBI Likely To Go Cautious On US Tariff-Affected Sectors
India Not In Favour Of Retaliatory Duties Against US Amid Trade Pact Talks, Say Sources
Zomato's New Moniker 'Eternal' To Come Into Effect On April 9
Ola Electric Announces 'HyperDelivery' For Same Day Registration, Delivery
