The domestic equity indices ended a choppy session with moderate losses on Friday, driven by mixed market sentiment as investors remained cautious amid uncertainty surrounding US President Donald Trump's tariff plan. The rupee strengthened against the US dollar and gold hit an all-time high today. The Nifty settled below the 23,550 mark. Media, IT and realty shares declined while FMCG and private bank shares advanced.
The barometer index, the S&P BSE Sensex, slipped 191.51 points or 0.25% to 77,414.92. The Nifty 50 index declined 72.60 points, or 0.31%, to 23,519.35.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.68%, and the S&P BSE Small-Cap index shed 0.35%. The market breadth was negative.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.37% to 12.72.
The stock exchanges will be shut on Monday, 31 March, 2025 on the occasion of Eid.
Among the sectoral indices, the Nifty FMCG index (up 0.59%), the Nifty Private Bank index (up 0.15%) and the Nifty Oil & Gas index (down 0.03%) outperformed the Nifty 50 index.
Meanwhile, the Nifty Media index (down 2.29%), the Nifty IT Index (down 1.76%) and the Nifty Realty index (down 1.42%) underperformed the Nifty 50 index.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.12% to 6.693 as compared with the previous close of 6.701.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4900, compared with its close of 85.7450 during the previous trading session.
MCX Gold futures for the 4 April 2025 settlement rose 0.34% to Rs 88,683.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.16% to 104.43.
The United States 10-year bond yield fell 0.80% to 4.334.
In the commodities market, Brent crude for May 2025 settlement lost 13 cents or 0.18% to $73.21 a barrel.
Global Markets:
European shares traded lower on Friday as global markets prepare for U.S. President Donald Trump's tariffs on automakers set to take effect on April 2.
Trump's new tariffs on foreign automakers are weighing on markets, with the newly elected White House leader announcing on Wednesday 25% duties on all cars 'not made in the United States,' which is set to go into effect from April 2.
France's harmonized inflation rate, adjusted for comparison with other eurozone countries, rose by 0.9% in March, the same as in February, according to data from the statistics agency Insee.
Meanwhile, service prices increased by 2.3%, compared to 2.2% in February. However, energy prices were 6.2% lower, compared to a 5.8% decline the previous month.
Spain's harmonized inflation rate dropped to 2.2% in March, compared with 2.9% in February, according to data from the National Statistics Institute (INE). Non-harmonized inflation declined to 2.3% in March from 3% in February. INE pinned the figures on a decline in electricity prices largely, as well as lower fuel and lubricant prices to a lesser extent.
The European Central Bank (ECB) has cut rates six times over the past nine months, as eurozone headline inflation remains below the 3% mark. The ECB is scheduled to meet again in April.
U.K. retail sales volumes increased by 1% month-on-month in January, the Office for National Statistics said Friday. It follows a 1.4% monthly uptick in January. The February rise was driven by non-food store sales, while supermarkets saw a decline after a strong January.
The ONS released several data sets on Friday, confirming its previous reading of 0.1% economic growth for the U.K. economy in the fourth quarter of 2024.
Consumers' real incomes were meanwhile shown to have risen by 1.9% in the fourth quarter. Consumer spending ticked up by 0.1%, while business investment declined.
Most Asian stocks ended lower as the latest tariff salvo from U.S. President Donald Trump stoked investor worries of an all-out trade war.
Trump moved ahead with a 25% tariff on auto imports due to kick in next week, drawing fierce criticism from politicians and industry executives across the globe and a warning from global car makers that price hikes were likely on the way.
The widening of the global trade war that Trump kicked off upon regaining the White House has jolted the markets, with shares of global automakers hit particularly hard.
The Stock Exchange of Thailand announced the immediate suspension of all trading activities following a strong earthquake in Myanmar.
Gold is up more than 17% in the first quarter of the year, heading for its best quarterly performance since 1986.
Data on Friday showed core consumer inflation in Tokyo accelerated in March, remaining above the central bank's target on steady gains in food costs. That kept alive market expectations of a near-term rate hike.
Markets in the US continued to record some selling on Thursday, with U.S. President Donald Trump's administration expanding the trade war to autos with its latest round of tariffs.
The Dow Jones Industrial Average (.DJI), opening a new tab, fell 155.09 points, or 0.37%, to 42,299.70; the S&P 500 (.SPX), opening a new tab, fell 18.89 points, or 0.33%, to 5,693.31; and the Nasdaq Composite (.IXIC), opening a new tab, fell 94.98 points, or 0.53%, to 17,804.03.
The major U.S. indexes are on track for their first back-to-back monthly declines since the two-month period that ended in October 2023.
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