New Delhi, July 13 -- Dear reader,

Last week, I wrote that there was an undertone of cautious optimism in the market data. Retail traders appeared hesitant, but overall nursed a bullish bias. There has been a slight change in sentiments since then. There is a degree of desolation as a small segment of traders abandoned their bullish bias and preferred to sit on the fence. US President Donald Trump's threats of imposing 10% additional tariffs on BRICS (Brazil, Russia, India, China, and South Africa) members (specifically mentioning India), as well as 500% penal tariffs on nations buying Russian oil, spooked bulls. These fears were visible in prices on Friday. All optimism of a trade deal with the US was brushed aside. Trump's threat to ta...