Sensex, Nifty Recover From Early Slide

(RTTNews) - Indian shares recovered from an early slide to end modestly higher on Friday.

A cautious undertone prevailed as uncertainty prevailed over the approaching July 9 deadline for U.S. reciprocal tariffs and robust U.S. jobs data dampened hopes for an imminent Fed interest-rate cut.

U.S. President Donald Trump said late Thursday that his administration will start sending out letters to different countries starting Friday, telling them what import tax (tariff) rates they will have to pay to sell goods in the U.S.

The benchmark 30-share BSE Sensex ended the session up 193.42 points, or 0.23 percent, at 83,432.89, after having hit a low of 83,015.83 during intraday trade.

The broader NSE Nifty index fell to 25,331.65 before reversing course to close up 55.70 points, or 0.22 percent, at 25,461 on optimism about India's upcoming trade deal with the United States.

Negotiators from India and the U.S. are engaged in around-the-clock discussions in Washington, with hopes high that the deal will be sealed within the next 48 hours.

The BSE mid-cap and small-cap indexes ended up around 0.2 percent each.

The market breadth was positive on the BSE, with 2,271 shares climbing while 1,782 shares declined and 136 shares closed unchanged.

Bajaj Finance jumped 1.6 percent after a strong Q1 business update.

UltraTech Cement, HCL Technologies, ICICI Bank, Hindustan Unilever and Infosys all rose around 1 percent. Trent, Tata Group's retail arm, plunged nearly 12 percent after its AGM revealed a projected revenue growth slowdown to 20 percent for Q1FY26.

Tata Steel declined 1.7 percent, Tech Mahindra dropped 1.1 percent and Maruti Suzuki India shed 0.9 percent.