Indian shares are expected to open lower as President Trump imposed a 25% tariff on India for purchasing Russian oil. The Ministry of External Affairs called it “extremely unfortunate.” The tariffs now total 50%, potentially impacting India’s $87 billion exports to the U.S. The GDP may be impacted by 30-40 bps if sustained for a year. Trump also announced a 100% levy on chip imports. Sensex and Nifty dipped on Wednesday, while the rupee closed higher. Foreign investors sold shares worth Rs. 4,999 crore, while domestic investors bought Rs. 6,794 crore. Asian markets were mostly higher, and oil rebounded after Trump’s warning on Russian oil sanctions. US stocks rose, with Nasdaq up 1.2%, S&P 500 up 0.7%, and Dow up 0.2%. In Europe, stocks closed mostly higher, with the STOXX 600 marginally lower.

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