The White House on Thursday imposed a series of price floors and a 15% tariff on products made from polysilicon, the raw material used in semiconductors and solar panels that is primarily produced by China.
Trump rolls out trade measures to counter China on solar and chips, slaps 15% tariff on polysilicon – Daily Market Update 7th Aug 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled on a flat to negative note.
- European equity markets, barring FTSE, ended on a positive note.
- Majority of Asian equity markets are trading in green.
- GIFT Nifty is down by 80 points, Nifty futures is likely to open around 24650 levels.
Nifty index traded in a thin range of just 75 points throughout the session to settle at 24636 spot levels well within the price resistance zone of 24600-24700 spot levels.
Performance on the broader front was mix as Mid cap index was down 0.44%, on the other hand, Small cap index was up 0.48%.
The majority of sectoral indices tracked at NSE ended in red. Among them, Nifty Auto, Media, Realty, Metal and IT index were down around 1% each. On the flip side, PSU Banks and Chemical index were up 2.20% & 1.30% respectively.
Going ahead, a decisive break above 24700 spot levels could lead it towards 24850 and higher levels in near term. Conversely, 24400 would continue to act as strong support on the downside and a fall below the same could drag it back to 24150-24050 spot levels in near term.
Derivatives Overview & Outlook
Yesterday, long buildup was seen in Finnifty futures with an increase in open interest by around 6.5% along with some short covering in Nifty and Banknifty futures as both shed 3.5% and 3% of open interest respectively. On the other hand, no significant changes was observed in Midcapnifty futures on open interest front.
Performance on the sectoral front was mix. Amongst them, Metals, Power and Realty stocks witnessed maximum addition of short positions, whereas some long buildup was seen in Capital Goods stocks.
On options front, put writing along with some call unwinding was seen at multiple OTM strikes. Maximum positions are at 25000 CE followed by 26000 & 24700 CE and 24000 PE followed by 24600 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 18 Cr in the cash segment, bought index futures worth Rs 2254 Cr and also bought stocks futures worth Rs 242 Cr. DIIs were net buyers in the cash segment to the tune of Rs 4014 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24800-24900; Supports 24600-24500
Banknifty – Resistances 58400-58800; Supports 57600-57200
Finnifty – Resistances 27100-27200; Supports 26800- 26700
F&O stocks in ban today: LICI
Important Results Today: BECTORFOOD, BEML, CUPID, DALMIASUG, HINDALCO, JKTYRE, LICI, KAYNES, LEMONTREE, PARAS & SBIN.
Disclosure
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