New Delhi: Investor caution about possible U.S. tariffs on BRICS countries kept Indian stock markets flat in the green on Friday. The BSE Sensex began at 76,888.89, up 129.08 points (0.17%), while the Nifty 50 index opened at 23,296.75, up 47.25 points (0.2%).
Market analysts emphasized the uncertainty around the potential tariff announcement by the Trump administration on February 1, which might have an effect on inflation and international commerce. Delaying the tariffs might increase risk-on attitude.
ANI was informed by Ajay Bagga, a banking and market expert. “Markets are in danger from Trump’s tariffs. On February 1, the Trump administration could make some tariff announcements. Given the potential effects of protectionism on supply chains, trade balances, and inflation on the global economy, markets are on edge. If the tariffs are delayed, sentiment risk will increase even more. The February 1 Union Budget is the market-moving event. For the first time since 2021, the Nifty has closed down for four consecutive months, setting a 23-year record.
“The idea that the BRICS countries are trying to move away from the dollar, while we stand by and watch, is OVER,” U.S. President Donald Trump wrote on social media on Thursday. We will demand that these ostensibly antagonistic nations promise not to develop a new BRICS currency or support any other currency to displace the powerful U.S. dollar. If they do, they will be subject to 100% tariffs and will likely have to bid farewell to selling into the fantastic U.S. economy.”
At the time this article was filed, shares of banking, metal, realty, oil, and gas were under pressure in the sectoral indexes on the NSE. Twenty-seven companies on the Nifty 50 list started higher, while twenty-four were under pressure.
“After finishing higher for the third day in a row, the index is now aiming for a resistance zone between 23387 and 23433, which also happens to be the peak of the bearish engulfing candle from January 21st. Akshay Chinchalkar, Head of Research at Axis Securities, said, “Keep in mind that yesterday’s peak was at the declining 20-day average, which for the day is close to 23300. That will be the immediate hurdle, which should give way given Gift Nifty’s 180-point jump.”
“Support sits near 23108,” he continued. Notably, the December close was 23644, so if we can’t close above this level today, the Nifty would have dropped for four straight months for the first time since September 2001.
Sun Pharmaceutical Industries, ONGC, Nestle India, Vedanta, PNB, Cholamandalam Investment, Marico, IndusInd Bank, Vishal Mega Mart, UPL, IRB Infrastructure, LIC Housing Finance, Aster DM Healthcare, and Poonawalla Fincorp are among the major firms scheduled to release their Q3 results.
With a 1.7 percent increase, Singapore’s Straits Times Index dominated Asian markets, while South Korea’s KOSPI trailed behind. The Taiwan Weighted Index and Hong Kong’s Hang Seng finished higher, while Japan’s index stayed unchanged.
