The report also noted that investor sentiment will remain cautious until there is clarity on the tariff situation.
Indian Markets Open In Red latest news: The Indian stock markets opened flat and in the red on Friday, ANI reported. The market indices are largely reacting to global uncertainty, triggered by uncertainty in U.S. policies.
According to the report, the National Stock Exchange Fifty (Nifty 50) index slipped by 21.00 points or 0.08 percent to 24,812.60, while the Bombay Stock Exchange (BSE) Sensex slipped by 167.33 points or 0.20 percent to 81,465.69.
The Nifty PSU Bank Index opened in the green on the sectoral front. Nifty IT saw the highest selling, declining by 0.9 percent.
The decision of the U.S. Court of Appeals for the Federal Circuit to allow the Trump administration to temporarily continue with its tariffs has impacted the global market.
The report stated that investors are now awaiting further clarity from the higher court on the decision, which will determine the outcome of legal challenges against these tariffs.
The negative impact triggered by the ruling of the U.S. Court of Appeals in favor of the Trump administration was seen across Asian markets.
The report also noted that investor sentiment will remain cautious until there is clarity on the tariff situation.
Ajay Bagga, banking and market expert, told ANI, as quoted in its report, “U.S. markets gave up gains, and Asian markets are down this morning due to this uncertainty. Indian markets saw reduced volatility despite today being an expiry day. Stronger inflows, expectations of a good India GDP number later this evening, and resilient domestic flows are making the outlook for Indian markets optimistic. However, the U.S. policy chaos remains an overhang on all risk markets for now. Hopefully, clarity will emerge by July on the tariff front, and markets will start positioning for that in June itself.”
The U.S. Court of Appeals for the Federal Circuit in Washington, in its ruling, said it was pausing the lower court's decision to consider the government's appeal, and ordered the plaintiffs in the case to respond by June 5 and the administration by June 9.
Yesterday, on May 29, Indian markets opened on a strong note, reacting to positive momentum largely triggered by the major ruling by the Manhattan-based U.S. trade court and upbeat quarterly earnings from U.S. tech giant Nvidia, which exceeded Wall Street expectations.
The Court of International Trade held that the U.S. Constitution grants Congress exclusive authority to regulate trade with foreign nations and that this power cannot be overridden by the President’s emergency powers, which are intended to safeguard the U.S. economy.
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