Varun K

Wall Street and global markets plummeted after President Trump’s announcement of new global tariffs, intensifying trade war fears. The S&P 500, Dow, and Nasdaq futures saw significant drops, while oil prices and the US dollar also fell. Economists warn that these tariffs could slow growth, increase inflation, and heighten economic uncertainty worldwide.

President Donald Trump announced broad tariffs affecting most nations, excluding Russia, citing existing sanctions that limit trade. Despite seeking enhanced trade relations with Russia, US trade figures with Russia have significantly declined, and experts question Trump’s strategy given the larger commercial opportunities with Canada, Mexico, and Europe.

Poonam Gupta, Director General of NCAER, has been appointed as Deputy Governor of the RBI for a three-year term. The position was vacant since January after M.D. Patra’s tenure ended. Gupta brings extensive experience in economic policy, having worked at the IMF and World Bank, and holding academic roles at prestigious institutions.

Starting April 1, 2025, changes in income tax slabs, UPI rules, and TDS thresholds will take effect. The highest tax rate of 30% applies to income above Rs 24 lakh. TDS thresholds for interest income have been increased. The Unified Pension Scheme begins and existing small savings scheme rates remain unchanged.

In March, Indian refiners increased US crude oil imports by 66% amidst US President Trump’s push for American energy exports. Incidentally, Russian oil imports to India also rose due to suppliers circumventing US sanctions.

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in trade on Wednesday a day after tanking over 1%. While the BSE Sensex crossed 76,650 intraday, Nifty50 touched 23,350.

Analysts have issued varying ratings on major companies like Tata Motors, GMR Airports, HAL, Bharti Airtel, and Vodafone Idea, underlining prospects based on recent developments. Factors such as expected tariffs, new orders, profitability forecasts, and government support significantly influence these ratings, indicating trends in the market.