Undermining firm cues from the global markets, the Indian benchmark indices—the BSE Sensex and the NSE Nifty—are poised for a muted start on Tuesday after U.S. President Donald Trump threatened to sharply increase tariffs on Indian exports. At 8:10, GIFT Nifty futures were down 20.5 points at 24,763.50, indicating a flat-to-lower opening for the Indian share markets.

Four days after Trump announced a sweeping 25% tariff on all Indian goods exported to the U.S., he revealed intentions to further increase tariffs to penalise India for buying crude oil from Russia. In his latest post on Truth Social, Trump accused India of purchasing "massive amounts of Russian oil" and selling it in the open markets.

On Monday, the Indian equity markets witnessed broad-based buying, with the benchmark indices, the Sensex and the Nifty50, ending their two-session losing streak. The 30-share Sensex rose 419 points to end at 81,018.72, while the Nifty50 closed at 24,722.75, up 157 points. Outperforming the benchmark indices, the broader markets ended with strong gains. The BSE Midcap index rallied 1.11%, while the BSE Smallcap index added 0.76%.

U.S. stocks rally on Fed rate cut hopes

In overnight trade, Wall Street ended on a strong note amid value buying by investors, helping the market regain most of last week’s steep losses triggered by weak jobs data and trade tensions. Rising optimism about an imminent interest rate cut by the U.S. Federal Reserve and decent corporate earnings numbers also fuelled the rally in American stocks. The S&P 500 surged 1.5%, the Dow Jones Industrial Average climbed 1.3%, and the Nasdaq Composite jumped 2%.

Asian markets follow Wall Street higher

Tracking strong cues from U.S. stocks, the Asian markets witnessed positive trading on Tuesday, except Hong Kong. The growing optimism over a potential interest rate cut by the U.S. Federal Reserve and the ‘buy on dip’ strategy boosted investors’ appetite for equities.

Japan’s Nikkei 225 rose 0.6%, while South Korea’s KOSPI was the best performer in the region with a gain of over 1.1%. Australia’s ASX 200 rallied 0.9%, while China’s Shanghai Composite and Singapore’s Straits Times rose around 0.4% each.

Among others, Taiwan’s Weighted Index and Indonesia’ Jakarta Composite added 0.7% and 0.5%, respectively, while Hong Kong’s Hang Seng was down nearly 0.3%.

Stocks to watch

Q1 results: Bharti Airtel, Adani Ports and SEZ, Lupin, Bharti Hexacom, Torrent Power, Britannia Industries, Container Corporation of India, Exide Industries, Gland Pharma, Britannia Industries, Alembic Pharmaceuticals, Berger Paints India, CARE Ratings, Gujarat Gas, Jindal Saw, NCC, Prestige Estates Projects, and many others will announce their quarterly earnings today.

IPO listing: Shares of Aditya Infotech and Laxmi India Finance will make their debut on the domestic stock exchanges, the BSE and the NSE, today.

DLF: The real estate major posted an 18.1% YoY rise in Q1 profit to ₹762.7 crore from ₹645.6 crore, while revenue nearly doubled, spiking 99.4% to ₹2,716.7 crore from ₹1,362.4 crore.

Sona BLW Precision Forgings: The auto parts manufacturer reported a 12.1% decline in Q1 profit to ₹124.7 crore from ₹142 crore, with revenue falling 4.2% to ₹853.9 crore versus ₹891.2 crore.

Aurobindo Pharma: The drug maker has reported a 10.2% year-on-year (YoY) decline in its consolidated Q1 profit at ₹824.2 crore, compared to ₹918.2 crore, while revenue grew 4% to ₹7,868.1 crore from ₹7,567 crore.

Delta Corp: The gaming company’s Q1 profit surged 35.9% to ₹29.5 crore from ₹21.7 crore, while revenue rose 3.5% to ₹184.2 crore from ₹178 crore.

Bosch: The company posted a strong performance with Q1 profit surging 140% to ₹1,115.3 crore versus ₹465.4 crore, and revenue rising 10.9% to ₹4,788.6 crore from ₹4,316.8 crore.

Siemens Energy India: The energy firm’s Q3 profit jumped 80% YoY to ₹263 crore from ₹146 crore, as revenue increased 20% to ₹1,785 crore from ₹1,484 crore.

Godfrey Phillips India: The tobacco company posted a 55.9% jump in profit to ₹356.3 crore from ₹228.6 crore, with revenue growing 36.5% to ₹1,486.2 crore versus ₹1,088.4 crore.

GPT Infraprojects: The infra company posted a 40% YoY rise in Q1 profit to ₹23.5 crore from ₹16.8 crore, as revenue grew 29.3% to ₹312.6 crore from ₹241.7 crore.

One 97 Communications (Paytm): The fintech stock will be in focus as Antfin, part of the Alibaba Group, is likely to sell its entire 5.84% stake in the company through block deals.

Kaynes Technology India: The company’s subsidiary, Kaynes Circuits India, has signed a non-binding Memorandum of Understanding (MoU) with the Government of Tamil Nadu to invest ₹4,995 crore over six years.

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