The Indian stock market ended Wednesday’s trading session with mild gains, as the Nifty 50 edged up 0.08% to 25,215, while the Sensex closed 0.08% higher at 82,642. Fresh concerns over rising U.S. inflation led traders to scale back expectations of aggressive rate cuts by the Federal Reserve.
Adding to investor caution, Donald Trump announced that 200% tariffs on pharma products would be implemented this month, contrary to his earlier claim that such measures were 12 to 18 months away. He also reiterated his threat of imposing 100% secondary tariffs on countries doing business with Russia—particularly those importing crude oil—which further weighed on market sentiment.
Markets have been moving within a narrow range over the past two months, amid uncertainty surrounding a potential India–U.S. trade deal. Meanwhile, the June quarter earnings season has begun without strong signs of robust earnings growth, prompting investors to remain cautious on equities.
Separately, on Tuesday, Trump announced a 19% tariff on goods from Indonesia under a new bilateral agreement and hinted that more trade deals are in the pipeline. He also suggested that India could be among the countries with which the U.S. may strike a deal before reciprocal tariffs are imposed on August 1.
