E-Paper
What to expect from Indian stock markets today amid US-China trade war?
Major stock indexes in the US market and the dollar dropped on Thursday, with the S&P 500 ending below 3 per cent.
India's benchmark indexes are set to open higher on Friday after Donald Trump's 90-day tariff pause led to a rally in the US stock market early Thursday.
According to a Reuters report, shares of Tata Consultancy Services (TCS), India's largest IT services firm, will be in focus on Friday after it reported weaker-than-expected quarterly earnings and cited US tariff disruptions impacting client confidence.
Gift Nifty futures were trading at 22,933.5 as of 8:20 a.m. IST, indicating a 2.5% rise from the Nifty 50's Wednesday close of 22,399.15.
Indian stock markets were closed on Thursday for Mahavir Jayanti.
Pranay Aggarwal, CEO of Stoxkart, told Reuters that although sentiment has improved, the abrupt change in tariff policies has introduced further volatility into the markets.
The volatility index has jumped 55.8% this week to 21.43, set for highest weekly rise since March 2020.
On Wednesday, the BSE Sensex dropped 379.93 points or 0.51 per cent to settle at 73,847.15. During the day, it slumped 554.02 points or 0.74 per cent to a low of 73,673.06.
The NSE Nifty declined 136.70 points or 0.61 per cent to 22,399.15. Intra-day, it tanked 182.6 points or 0.81 per cent to 22,353.25.
How US and Asian markets fared overnight
Major stock indexes in the US market and the dollar dropped on Thursday, with the S&P 500 ending below 3 per cent.
According to Reuters, investors fled to safe havens with gold prices jumping nearly 3% to an all-time high and the dollar hitting a 10-year low against the Swiss franc.
Most US Treasury prices were slightly higher, with another strong bond auction on Thursday helping to ease demand concerns amid the tariff-related market volatility. Treasuries had sold off sharply earlier this week.
In the Asian market, Stocks fell on Friday, retreating after a sharp rebound in the previous session, as investor anxiety over tariff uncertainty and the broader fallout from the Sino-U.S. trade war prompted a pullback from risk assets.
Singapore's benchmark gauge dropped as much as 3%, a day after the index advanced more than 5%. Stocks in Malaysia and the Philippines fell around 2% each, while Indonesian shares posted marginal losses, Reuters reported.
Japan's Nikkei share average slumped nearly 5% on Friday in a brutal end to a volatile week.
(With agency inputs)
