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Sensex, Nifty End Modestly Lower Due To Tariff Uncertainty
(RTTNews) - Indian shares ended modestly lower on Friday due to uncertainty surrounding a court battle about U.S. President Donald Trump's tariffs and rising concerns about U.S. economic stability.
Weak global cues and a stronger dollar kept investors on edge after an U.S. Appeals court temporarily halted lower court's decision of tariff injunction, giving the court time to review legal arguments and filings.
The Trump administration must submit its briefings by June 9, after which the court will determine the next step.
The White House is confident that they will manage to keep tariffs in any way. "You can assume that even if we lose [in court], we will do it [tariffs] another way," Reuters quoted Washington trade negotiator Peter Navarro as saying.
The benchmark 30-share BSE Sensex dipped 182.01 points, or 0.22 percent, to 81,451.01 while the broader NSE Nifty index ended down 82.90 points, or 0.33 percent, at 24,750.70.
The BSE mid-cap index eased 0.4 percent while the small-cap index edged up by 0.2 percent.
The market breadth was weak on the BSE, with 2,171 shares declining while 1,820 shares gained 128 shares closed unchanged.
IT stocks came under selling pressure, with TCS, Infosys, Tech Mahinda and HCL Technologies falling 1-2 percent.
Metal stocks also fell broadly, with Tata Steel losing 1.3 percent and Hindalco tumbling 2.6 percent after U.S. Treasury Secretary Scott Bessent said trade talks between China and the U.S. have stalled and a direct call between the two countries' presidents may be needed to close a deal.
Thai Stock Market May Spin Its Wheels On Friday
Continued Consolidation Called For Indonesia Stock Market
Japanese Market Sharply Higher; Up 2%
Consolidation Likely For Hong Kong Shares
Australian Market Notably Lower
Rally May Stall For China Stock Market
Taiwan Stock Market May Hand Back Thursday's Gains
