Global Cues: US markets ended lower (S&P -0.5%, Nasdaq -0.5%) as stronger-than-expected jobless claims created fresh doubts on Fed’s rate cut timing. Trump announced 100% tariffs on pharma imports effective Oct 1, unless firms set up US manufacturing – sentiment negative for global pharma.

DRREDDY

LUPIN

US Q2 GDP revised higher to 3.8% vs 3.3% earlier; US 10Y yield firm at 4.17%. Brent Crude at $69.5, Dollar Index at 98.5 – both supportive for India. Key US data today: Core PCE Price Index (Fed’s preferred inflation gauge). Domestic Setup: GIFT Nifty down 95 pts at 24,863, signaling a weak start. Focus on pharma, financials, and IT after global cues. Spot Index Levels: Nifty 50: Support 24,800 / 24,700; Resistance 25,000 / 25,150 Bank Nifty: Support 54,800 / 54,500; Resistance 55,300 / 55,500 Nifty Fin Service: Support 26,200 / 26,100; Resistance 26,300 / 26,400 Sensex: Support 81,000 / 80,800; Resistance 81,300 / 81,500 Outlook: Weak global cues + tariff news may pressure sentiment at open. Watch for Nifty holding 24,800 zone; breach could trigger further slide. Financials and IT in focus, while pharma may see selling pressure on tariff overhang.

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