Indian Markets Expected to Open in Green, Trump Announces Plans for Tariffs on Canada and Mexico

Mumbai, January 21 - Indian stock markets are expected to open in the green on Tuesday, mirroring the trend seen in Asian peers. The move comes after US President Donald Trump announced that he is considering enacting previously threatened tariffs on Canada and Mexico starting next month, citing concerns over illegal immigration at the US border.

Trump also mentioned China but did not provide further details. The news led to a jump in the value of the US dollar, with the Dollar Index soaring to 108.5 on Monday. This has been happening despite some losses from the previous session.

The strengthening of the US dollar has put immense pressure on emerging market currencies like the Indian Rupee. Experts have warned that this could lead to volatility in the markets if not managed properly.

On the earnings front, several Indian companies are set to announce their quarterly results today. Among them is Tata Technologies, South Indian Bank, UCO Bank, and Dalmia Bharat, all of which will be reporting their December Q3FY25 numbers.

In real estate news, Oberoi Realty has reported a 71.7% year-on-year rise in its consolidated net profit for the third quarter ended December (Q3FY25) to Rs 618.38 crore. Dixon Technologies has also announced a 77.5% year-on-year jump in its consolidated net profit (attributable to owners of the company) for Q3FY25 to Rs 171.19 crore.

On the sectoral front, India's biggest domestic institutional investor Life Insurance Corporation of India (LIC) has reduced its stake in fertiliser company National Fertilisers Limited (NFL). Also, Landmark Cars has received a letter of intent from JSW MG Motor India Pvt. Ltd. to open new dealerships for their luxury brand MG Select.

Meanwhile, Reliance Power appointed Shri Neeraj Parakh as an Executive Director and CEO in its Board of Directors. Venus Remedies announced the successful renewal of its European Good Manufacturing Practices (GMP) certification by Infarmed, Portugal.

In other news, Waaree Energies has received a Letter of Award for the supply of solar modules for 180 MWp from a renowned customer engaged in renewable power projects. Vodafone Idea released a clarification regarding recent reports of government talks over its Arrears dues.

The markets are sure to be closely watched today as these companies set out to make significant announcements, which could impact market sentiment and investor sentiments.