The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,594 level, a discount of nearly 40 points from the Nifty futures’ previous close.

Today is the weekly options expiry of the Nifty 50 contracts. Over the last two sessions, the Nifty has given up everything that it had gained during Monday's trade. More levels on the downside could be tested today after US President Donald Trump signed an Executive Order to impose another 25% tariff on Indian exports,

Stock Market Alert: Nifty and Sensex opened lower on Thursday, August 7, as the investors reacted to the US President Donald Trump's 50% tariff announcement on Indian imports. Nifty opened 110 points lower at 24,464 points, whereas BSE Sensex was down around 80,263 points during the stock market opening today.