(RTTNews) – Indian shares may open on a weak note on Thursday after U.S. President Donald Trump’s 50 percent tariffs on Indian goods came into effect on Wednesday.
U.S. Treasury Secretary Scott Bessent said the bilateral ties remain “complicated”, but expressed confidence that the two countries would come together “at the end of the day”.
Indian markets were closed on Wednesday for Ganesh Chaturthi. Benchmark indexes Sensex and Nifty both fell over 1 percent on Tuesday after the Trump administration officially issued a notice regarding the imposition of an additional 25 percent tariffs on Indian imports.
The rupee fell by 12 paise to close at 87.68 against the greenback due to strong dollar demand from importers.
Foreign institutional investors (FIIs) offloaded shares worth Rs. 6,516.49 crore on a net basis on Tuesday, while domestic institutional investors (DIIs) bought shares to the tune of Rs 7,060.37 crore, as per provisional data.
Asian markets were mixed this morning as Nvidia’s sales outlook missed lofty expectations and reports suggested that the Mexican government is pushing for higher tariffs on Chinese imports.
Short-dated Treasuries retreated after two days of gains. The dollar index fell as investors bet on a near-term Fed rate cut.
Oil gave up some of the gains from the previous session while gold was slightly lower below $3400 per troy ounce.
U.S. stocks ended higher overnight as investors looked past President Trump’s unprecedented move to fire Fed Board Governor Lisa Cook from the central bank’s board and braced for Nvidia results.
The S&P 500 inched up 0.2 percent to reach a new record closing high while the Dow added 0.3 percent and the tech-heavy Nasdaq Composite edged up by 0.2 percent.
European stocks ended mixed on Wednesday as investors continued to assess the political crisis in France.
The pan European STOXX 600 gained 0.1 percent. The German DAX dipped 0.4 percent and the U.K.’s FTSE 100 slipped 0.1 percent while France’s CAC 40 rose 0.4 percent.
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