Mood in the Indian markets remained muted on Friday morning. As investors geared for the last trading session of the week, the indices gave indications of a muted day ahead for equities. The BSE Sensex started the day near 80,150, inching up more than 50 points, while the NSE Nifty50 opened just above 24,500, climbing merely 11 points.
Sentiment remained volatile as the Indian economy tried to mitigate the aftermath of double tariffs implemented by the US this week. The GIFT Nifty slid 44 points and tested 24,650, around 9:07 AM. Meanwhile, the Sensex slipped 57 points to hover near 80k and the Nifty remained nearly flat around 24,500, during the same time in the pre-open session.
Investor mood soured after Washington’s additional 25 per cent levy on Indian goods came into effect on Wednesday, raising the total tariff burden to 50 per cent. The move, tied to India’s continued imports of Russian oil, has heightened trade concerns and weighed heavily on market sentiment.
How Did Markets Fare Yesterday?
In the previous session on Thursday, benchmarks closed sharply lower, dragged down by weak global cues, sustained foreign fund outflows, and the impact of fresh US tariffs on Indian exports.
The Sensex fell 705.97 points, or 0.87 per cent, to settle at 80,080.57. In intraday trade, the index slipped as much as 773.52 points to touch 80,013.02. The Nifty lost 211.15 points, or 0.85 per cent, ending the session at 24,500.90.
“Domestic equities ended lower as pessimism took hold following the implementation of tariffs on Indian goods, dampening investor sentiments. While the cotton import duty exemption briefly lifted hopes of policy support, investor mood remained fragile, with largecaps declining and mid and smallcaps underperforming amid risk-off sentiment,” said Vinod Nair, Head of Research, Geojit Investments.
To cushion exporters, the government has extended duty-free imports of cotton until December 31, offering some relief to the textile sector, which is grappling with steep tariffs in the US.
