Sensex, Nifty Set To Open Lower On Trade Concerns

(RTTNews) - Indian shares look set to open on a sluggish note Friday as U.S. President has ruled out any possibility of trade negotiations with India and Prime Minister Narendra Modi said India would not compromise on the interests of its farmers, fishermen or livestock rearers, even if it meant paying "a heavy personal price."

India is exploring new markets for its exports—both goods and services—as a diversification strategy amid the United States' decision to levy high tariffs on Indian exports, said Dammu Ravi, Secretary (Economic Relations), Ministry of External Affairs.

Benchmark indexes Sensex and Nifty reversed early losses to end marginally higher on Thursday. The rupee consolidated in a narrow range before settling up 3 paise at 87.69 against the dollar.

Foreign Portfolio Investors (FPIs) were net sellers of Indian shares to the tune of Rs 4,997 crore on Thursday, while domestic institutional investors (DIIs) net bought shares worth Rs 10,864, according to provisional NSE data.

Asian markets were mostly lower this morning, though Japan's Nikkei surged more than 2 percent after clarity emerged over U.S. tariffs and SoftBank Group reported a swing back to profit in the first quarter.

Ten-year Treasuries were little changed while the dollar slipped for a sixth consecutive session and was on track for its longest losing streak since March 2024.

Gold ticked lower, while oil held steady but headed for the biggest weekly loss since June on fears of oversupply.

U.S. stocks ended mixed overnight as new U.S. tariffs hit dozens of trading partners and President Trump hinted at chip tariff carveouts.

Three Federal Reserve officials voiced concerns over the labor market as data showed continuing claims for unemployment benefits reached their highest level since November 2021.

Meanwhile, Trump tapped Stephen Miran, one of his top economic advisers, to temporarily serve on the Federal Reserve's Board of Governors.

The tech-heavy Nasdaq Composite rose 0.4 percent, while the S&P 500 finished marginally lower and the Dow fell half a percent.

European stocks closed mostly higher on Thursday after reports suggested that U.S. President Trump and Russian President Vladimir Putin are preparing to meet "in the coming days". The pan-European STOXX 600 gained 0.9 percent.

The German DAX climbed 1.1 percent and France's CAC 40 rallied 1 percent while the U.K.'s FTSE 100 declined 0.7 percent as the Bank of England cut its benchmark interest rate for the fifth time in a year and hinted that the easing cycle is nearing its end.