Tariffs, Tumbles, and Triggers—What’s Next?

Markets Overview

We’ve ended the month of July on a disappointing note. After four consecutive positive months, July turned negative for Indian markets. The 25% tariff announcement from the U.S. continues to weigh on sentiment. While the market initially shrugged it off and rallied the day of the announcement, the very next day it came to terms with the implications and gave up gains. Although many see the U.S. move as a negotiation tactic to ultimately bring tariffs down from the initially declared level, India’s own internal challenges—especially on the growth front—are adding to the market’s worries.

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Nifty fell, confirming that yesterday’s pullback was short-lived. With no overnight recovery and continued U.S. pressure on India, markets appear to be grinding lower gradually, lacking strong undercurrents to support a rebound.

Rebalance Update for the week