Mumbai, July 31 -- GIFT Nifty:

GIFT Nifty August 2025 futures were currently trading 16.50 points (or 0.07%) higher, suggesting a muted start for the Nifty 50 today.

Trump Tariffs:

The U.S. President Donald Trump announced on Wednesday that India will face a 25% tariff starting August 1, along with an additional 'penalty' over what he considers unfair trade practices and India's purchases of military equipment and energy from Russia.

The 25% tariff is slightly lower than the 26% rate he declared on "Liberation Day" for the key trading partner but remains at the higher end of the range he was weighing. On Tuesday, Trump had indicated he was considering a rate between 20% and 25%.

India's Ministry of Commerce and Industry has reportedl...