Mumbai, April 3 -- GIFT Nifty:

The GIFT Nifty April 2025 futures contract is down 55 points, indicating a negative opening in the Nifty 50 index today.

US President Donald Trump announced a 26% reciprocal tariff on India, citing the higher import duties India imposes on US goods. Additionally, he introduced a 25% tariff on automobile imports into the US. The latest tariff announcement could pressure sectors like IT and automobiles in the stock market.

Importantly, no new reciprocal tariffs were announced for the pharmaceutical sector. According to a White House fact sheet, drugs and certain other products-some of which are already subject to existing tariffs-will not be affected by the latest levies. However, Trump has hinted that futu...