US President Donald Trump on Tuesday imposed 50% tariff on copper imports, while threatening to slap 200% tariff on pharmaceutical products.
The announcement came in a press briefing following a Cabinet meeting. Trump said the pharmaceutical companies exports to the US will have a year-and-a-half before they face the tariffs.
The US president also said that he will also announce tariffs on chips, among other products.
Trump threatens 200% tariff on Pharma imports; imposes 50% levy on Copper – Daily Market Update 9th July 2025
Overview and Outlook
Global Stock Market Today
- US equity markets ended on a mix note.
- European equity markets ended higher by 0.5% each.
- Asian equity markets are trading on a flat note.
- GIFT Nifty is little changed, Nifty futures likely to open around 25588 levels.
Benchmark Nifty index ended slightly higher at 25522 spot levels after a lackluster trading session.
Broader markets underperformed the benchmark as Mid and Small cap indices were down 0.17% & 0.29% respectively.
Performance on the sectoral front was mix. Consumer Durables index was the worst performer, down over 2% followed by Healthcare and Pharma index that fell nearly 1% each. On the other hand, Realty and Pvt Bank index provided the needed support to the bulls, rose in range 0.5% to 1%.
Nifty index breached the Eight days long Declining Channel pattern in day trade on the higher side. Going ahead, cross and sustenance above 25550 spot zone will be positive development that might take it up to 25800-26000 spot levels in near term.
Derivatives Overview & Outlook
Yesterday, Nifty and Banknifty futures added around 4% and 2.5% of open interest respectively as long positions along with short covering in Finnifty futures by around 5.5% of open interest.
On the sectoral front, long buildup was seen among Textile, Power and Realty stocks while short buildup was seen among FMCG, Chemicals and Pharma stocks.
On options front, put writing was seen at multiple strikes. Maximum positions are at 25400 PE and 26000 CE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 26 Cr, sold stocks futures worth Rs 1656 Cr and also sold index futures worth Rs 269 Cr. On the other hand, DIIs were net buyers in the cash segment to the tune of Rs 1367 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25700-25765; Supports 25540-25450
Banknifty – Resistances 57750-58000; Supports 57200-56800
Finnifty – Resistances 27200- 27280; Supports 27000-26900
F&O Security in Ban Today: RBLBANK
Disclosure
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