Gift Nifty was trading around 24,685 level, a discount of nearly 23 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

President Donald Trump imposed an additional 25% tariff on India as punishment for importing Russian oil, according to a document posted on the White House website — an escalation of his trade battle with New Delhi and his first use of so-called secondary sanctions on countries the US says are fueling Moscow’s war machine.