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Indian equity markets started the day weak but recovered to positive territory, with both Sensex and Nifty trading in the green. The BSE Midcap index remained stable, while the Smallcap index rose by 0.6%. In contrast, Asian markets declined, influenced by Wall Street’s downturn, with Japan’s Nikkei and Topix, South Korea’s Kospi and Kosdaq, and Hong Kong’s Hang Seng and China’s Shanghai Composite all facing losses due to trade and economic growth concerns. This negative global trend may impact Indian equities at the market’s opening.
Key points to monitor include:
- Dollar Index: The dollar index stabilized at 104 as investors awaited the monthly jobs report, having dipped earlier due to disappointing labor data and trade tensions. The US dollar faces pressure from economic concerns and President Trump’s unpredictable policies, including his recent decision to postpone tariffs on Mexican and Canadian automakers.
- Trump’s Tariff Situation: Trump has temporarily suspended tariffs on imports from Canada and Mexico, easing market fears amid escalating trade tensions. These tariffs, introduced under the North American trade agreement, could have reached up to 25%.
- Oil Prices: Oil prices remained stable but are set for their largest weekly decline since October, with uncertainty over US tariff policies raising concerns about global demand growth.
(Newsroom staff only edited this story for style from a syndicated feed)
