Stock Market Today: How BSE Sensex and Nifty50 Will Perform Amid Trump Tariffs, FOMC In Focus

Indian stock markets are likely to see a muted or flat opening on Tuesday, July 9, despite extending gains in the previous session. While domestic technical indicators remain positive, global uncertainty triggered by US President Donald Trump’s aggressive tariff policy, including a fresh 50% duty on copper imports, is clouding investor sentiment.

Market Recap: Gains Across the Board
On Monday, July 8, Indian benchmarks ended in the green. The Sensex gained 270.01 points (0.32%) to close at 83,712.51, while the Nifty added 61.20 points (0.24%), ending at 25,522.50.

According to Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research (Equity) at SBI Securities: “On Tuesday, the benchmark index Nifty traded in a narrow range of 71 points throughout the day. However, in the final hour of the session, the index gave a breakout and managed to end above the 25,500 mark.”

Key Levels to Watch: Nifty, Bank Nifty & Sensex
Shah highlighted strong bullish signals:
Nifty is trading above its crucial moving averages, with the daily RSI in an upward bullish trajectory.
Immediate support is seen at 25,400–25,370, while a breakout above 25,600 could lead to a sharp rally toward 25,750, and potentially 25,900.

In sectoral performance, Bank Nifty outpaced frontline indices, ending at 57,256, up 0.54%, forming a bullish candle.

“The daily RSI has surged above 60 and is in a rising trajectory,” Shah added. Support lies at 57,050–57,000, while a sustainable move above 57,600 could trigger upside targets of 58,000 and 58,300.

Sensex, too, moved in a tight 241-point band but closed with strength. “On the weekly expiry day, Sensex ended above the 83,700 mark. Going forward, the 83,900–84,000 zone is a crucial resistance, while 83,400–83,500 will act as key support,” said Shah.

FII-DII Activity: Domestic Buying Continues
On the institutional front:
FIIs (Foreign Institutional Investors) sold equities worth Rs 26.12 crore.
DIIs (Domestic Institutional Investors) bought shares worth Rs 1,366.82 crore, indicating robust domestic support despite global headwinds.

Global Cues: Trump’s Tariff Storm Clouds Market Mood
Markets across Asia traded mixed on Wednesday, following Trump’s latest trade pronouncements. The former president reaffirmed there would be no extension or revision on a fresh round of US tariffs targeting 14 countries—including Japan and South Korea—starting August 1.

In a Truth Social post on Tuesday, Trump stated: “We will be releasing a minimum of 7 countries having to do with trade tomorrow morning, with an additional number of countries being released in the afternoon.”

He also announced a 50% tariff on copper imports and threatened to impose up to 200% tariffs on pharmaceutical products, with a grace period of one to 1.5 years.

US Market Recap: Flat Close Amid Tariff Uncertainty
On Tuesday:
The S&P 500 fell 0.07%
The Nasdaq Composite added a mere 0.03%
The Dow Jones dipped 0.4%

“On Tuesday, all three major US indices experienced a choppy trading session and ultimately closed flat, as investors remained cautious amid ongoing uncertainty surrounding President Donald Trump's trade policies,” Shah commented.

Despite the volatility, the S&P 500 remains bullish, with key resistance seen between 6,270–6,290, while support is expected in the 6,200–6,180 zone.

Commodities & Currency Watch
Brent crude ended higher for a second session but remains stuck in a sideways trend. The RSI indicates range-bound action.
Resistance: $68.70–68.90 (200-day EMA)
Support: $67.30–67.50

The U.S. Dollar Index (DXY) touched its 20-day EMA, then rebounded modestly.
Immediate resistance: 97.70–97.80
Support zone: 97–96.80

Outlook: Sectors to Watch & Technical Favorites
According to Shah, in the short term, the following sectors could outperform:
Private Banks
Financial Services
Oil & Gas
Infrastructure
CPSE, PSE stocks
India Tourism

These sectors are buoyed by strong technical formations and rising RSI patterns across daily charts.
 

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What’s Ahead: FOMC Minutes, More Tariff Signals
Investors will closely monitor:
The release of FOMC minutes from the Fed’s last meeting.
Any additional announcements from Trump regarding sector-specific tariffs, especially in technology, pharma, and EVs.
Reactions in copper and pharma stocks as Trump’s tariff threats gain traction.
 

Despite technical strength in key domestic indices, Indian markets could remain cautious in the near term, especially if the global risk-off sentiment deepens due to U.S. trade policy. The 25,600 level on Nifty and 57,600 on Bank Nifty are key breakout triggers to watch, as is global investor sentiment around Trump’s next tariff bombshell.
 

Disclaimer

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