From Gift Nifty’s dip to global trade worries and soaring copper prices, here’s what changed overnight and how it may shape Indian markets on July 9.
July-9, 2025: India’s stock market is expected to see a muted or lower opening on Wednesday as global sentiment turned cautious after US President Donald Trump refused to extend the August 1 deadline for imposing fresh tariffs. This move triggered volatility in commodities and currency markets and set a cautious tone for Asian trading.
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Here are the 8 key developments you need to know before markets open:
1. Gift Nifty Signals Weak Start
Gift Nifty was trading around 25,581, nearly 30 points lower than the Nifty futures’ previous close, indicating a slightly negative opening for the Indian indices.
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2. Asian Markets Mixed
Asian markets reflected nervousness over Trump’s tariff push.
- Nikkei 225 rose 0.33%
- Topix Index up 0.17%
- Kospi remained flat
- Kosdaq gained 0.29%
- Hang Seng hinted at a strong open
3. Wall Street Flat But Fragile
US stock markets ended mixed.
- Dow Jones: -0.37%
- S&P 500: -0.07%
- Nasdaq Composite: +0.03%
Tech stocks performed modestly:
- Tesla +1.3%, Nvidia +1.11%, AMD +2.24%
- Amazon dropped 1.84%
4. Trump’s Tariff Shock
President Donald Trump reaffirmed a 50% tariff on copper imports and warned of a 200% tariff on pharmaceuticals, both of which directly impact Indian exports. He refused to delay the August 1 deadline for new tariffs, sending a chill through global trade.
5. Copper Prices Spike
Copper futures in New York saw a record intraday spike of 17%, before easing 4% in early Wednesday trade.
- NY Copper: $5.5085/lb
- London Metal Exchange: down 1.7% to $9,627/ton
This volatility has traders on edge, especially Indian exporters.
6. Gold Prices Edge Lower
Gold remained under pressure post-Trump’s announcement:
- Spot gold: $3,300.23/ounce (flat to marginally lower)
7. Crude Oil Dips
Concerns over rising US stockpiles kept oil prices soft:
- Brent crude: -0.20% to $70.01/barrel
- WTI crude: -0.25% to $68.16/barrel
8. Dollar Strengthens Again
The US Dollar Index firmed up for the third consecutive day:
- Dollar-Yen: 146.85 (+0.2%)
- Euro: $1.1720 (steady)
- Pound Sterling: $1.3579 (-0.1%)
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