Indian equity benchmark -- Nifty -- witnessed recovery in last leg of trade but failed to end in green on Tuesday amid volatility. Index made a slightly positive start and soon entered into red, as traders were cautious amid continued selling by foreign institutional investors (FIIs). Some pessimism came as India’s exports declined for the third month in a row in January by 2.38% to $37.32 billion due to volatility in petroleum prices and global uncertainties.
In afternoon session, market remained lower, as sentiments remained subdued amid prevailing uncertainty about U.S. President Donald Trump's tariff plans. Traders overlooked private report that Finance Minister Nirmala Sitharaman emphasized that the duty cuts and rationalisation are part of a continuous process aimed at strengthening India’s position in global trade. The move comes as a response to US President Donald Trump’s proposed reciprocal tariffs on trading partners. However, in final hour of the trade, market managed to trim most of its losses and ended flat.
