US President Donald Trump on Monday indicated that he will likely impose a blanket tariff between 15% and 20% on imports from countries that haven’t signed separate trade agreements with the United States.
The proposed rate marks a significant jump from the 10% baseline tariff Trump had announced back in April, raising concerns for smaller nations that had been expecting a more moderate approach.
Trump indicated 15-20% baseline tariff likely for countries without trade deals- Daily Market Update 29th July 2025
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat note.
- European equity markets ended lower in range 0.40% to 1%.
- Majority of Asian equity markets are trading in red.
- GIFT Nifty is down by 40 points, Nifty futures likely to open around 24670 levels.
Benchmark Nifty index ended lower at 24681 spot levels after a cut of 156 points from its previous closing values.
Broader markets underperformed the benchmark as Mid and Small cap indices fell 0.84% & 1.26% respectively.
Majority of sectoral indices, tracked at NSE, ended in red. Amongst them, Realty index was the worst performer, fell over 4% followed by Media index that fell 2.70%. On the other hand, Pharma & FMCG index settled with marginal gains.
Nifty index decisively closed below 24800 spot levels. Going ahead, we reiterate our short term negative view on Nifty index and expect it to test 24400 and lower levels in immediate near term. Hence, traders are advised to maintain sell on rise trading approach.
Derivatives Overview & Outlook
Yesterday, all index futures moved southward on short buildup as Nifty, Banknifty, Finnifty and Midcapnifty futures added 1.4%, 2.3%, 1.5% and 4% of of open interest respectively.
Majority of the sectoral indices ended lower on long unwinding, barring FMCG and Pharma stocks that witnessed some long buildup.
On the option front, call writing was seen at multiple strike implying multiple resistances at higher side. Maximum positions are at 25000 CE and 24000 PE closely followed by 24500 PE. Options data is still showing negative sentiments and suggest to maintain sell on rise trading approach.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 6082 Cr in the cash segment, sold index futures worth Rs 1179 Cr and bought stocks futures worth Rs 2124 Cr. DIIs were net buyers in the cash segment to the tune of Rs 6765 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24820-25000; Supports 24600-24500
Banknifty – Resistances 56400-56800; Supports 56000-55800
Finnifty – Resistances 26500- 26400; Supports 26720-26850
F&O Security in Ban Today: RBLBANK
IMPORTANT RESULTS TODAY: ASIANPAINT, DEEPAKFERT, GMRAIRPORT, LT, NTPC, PEL, VBL.
Disclosure
Globe Capital Market Limited (“GCML”) is a Stock Broker registered with BSE, NSE, MCX, NCDEX, and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager and Research Analyst. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates.
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