Indian Markets Waver as Trump Tariff Threat Looms
Indian stock markets opened cautiously on Tuesday, reacting to potential tariff threats from the US. President Trump's recent comments have created uncertainty, leading to a mixed market performance. While some sectors faced declines, focus is shifting to domestically-oriented areas as global markets show varied movements.
- Country:
- India
On Tuesday, Indian stock markets opened cautiously amid investor concerns over potential tariff threats from U.S. President Donald Trump. The Nifty 50 index started almost flat, dipping slightly by 0.01% to 24,720.25, while the BSE Sensex fell by 0.09% to 80,946.43 at the opening bell.
Market experts attribute the investor unease to Trump's recent remarks, suggesting a possibility of secondary tariffs on India for purchasing Russian crude oil. Ajay Bagga, a banking and market expert, explained that these 'Trump Tantrums' have influenced global markets, although Indian markets rebounded from oversold levels on Monday.
In the broader market, sectoral indices experienced mixed results, with sectors like Nifty Auto and Nifty IT seeing declines. However, Nifty Media and sectors with domestic focus showed minor gains. In contrast, other major Asian markets were mainly positive, and U.S. markets closed strongly, signaling robust investor sentiment despite the tariff concerns.
(With inputs from agencies.)
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