Markets trade under pressure amid fresh tariff announced by Trump

Indian equity benchmarks made a negative start on Friday and were trading under pressure with cut of around half a percent each in early deals after U.S. President Donald Trump announced a new round of tariffs, and said that the United States will impose a 100 percent tariff on imported branded drugs, 25 percent tariff on imports of all heavy-duty trucks and 50 percent tariff on kitchen cabinets. Trump also said he would start charging a 30 percent tariff on upholstered furniture next week. Foregin fund outflows also dented domestic sentiments. Foreign investors net sold shares worth Rs 4,995 crore on Thursday. Traders overlooked Finance Minister Nirmala Sitharaman’s statement that India's resilience stands out due to its strong macroeconomic fundamentals amid increasing global uncertainties. She said the economic resilience has continued, particularly in the April-June quarter this year, as well, where India's GDP has grown by 7.8 per cent.

On the global front, Asian markets were trading mostly in red, following the broadly negative cues from Wall Street overnight, after overall inflation in the Tokyo region of Japan was up 2.5 percent on year in September. Core CPI, which excludes the volatile cost of food, also was up 2.5 percent on year. The preliminary read on Japan's overall inflation suggested a 1.0 percent increase on year. Back home, on the sectoral front, food processing sector were in focus as Union Minister Chirag Paswan said India's food processing sector is expected to attract investment proposals of more than Rs 1 lakh crore during the World Food India summit in the national capital.

The BSE Sensex is currently trading at 80763.64, down by 396.04 points or 0.49% after trading in a range of 80708.34 and 81033.09. There were 6 stocks advancing against 24 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.74%, while Small cap index was down by 1.02%.

The sole gaining sectoral index on the BSE was Auto up by 0.04%, while Healthcare down by 1.67%, IT down by 1.46%, TECK down by 1.12%, Telecom down by 0.97% and Consumer Durables down by 0.80% were the top losing indices on BSE.

The top gainers on the Sensex were Tata Motors up by 1.42%, Larsen & Toubro up by 1.36%, Maruti Suzuki up by 0.70%, Adani Ports & SEZ up by 0.08% and Trent up by 0.06%. On the flip side, Sun Pharma down by 2.01%, Infosys down by 1.73%, Tech Mahindra down by 1.54%, Asian Paints down by 1.54% and Power Grid down by 1.39% were the top losers.

Meanwhile, Finance Minister Nirmala Sitharaman has said that India's resilience stands out due to its strong macroeconomic fundamentals amid increasing global uncertainties. She said the uncertainty in the global environment has increased over the past year, and its impact is being felt across countries. She noted ‘But amidst all these uncertain global situations, India's resilience stands out and several favourable factors, such as strong macroeconomic fundamentals, a young demography, and greater reliance on domestic demand, provide the core strength to the Indian economy’. She said the economic resilience has continued, particularly in the April-June quarter this year, as well, where India's GDP has grown by 7.8 per cent.

She said ‘India's resilience is not accidental. They reflect proactive fiscal and monetary policies, bold structural reforms, massive infrastructure creation, both physical and digital, improved governance and enhanced competitiveness over the last decade’. She also highlighted that S&P upgraded India's sovereign credit rating to 'BBB' (from BBB-) in August 2025 after 18 years, and Morningstar DBRS upgraded India to 'BBB' from BBB (low) in May 2025. Recently, Japanese credit rating agency Rating and Investment Information (R&I) upgraded India's long-term sovereign credit rating to 'BBB+' from 'BBB'.

She further said that with uncertainty remaining a defining feature of the global landscape, the role of banks becomes even more critical, not just as custodians of savings, but as engines of growth, providing the finance and support that businesses and entrepreneurs need to navigate volatility, seize opportunities and drive innovation. She said ‘One principle, which we can never forget to adhere to, is adhering to the core principle of customer trust, which is the foundation of banking’. She emphasised that every complaint must be seen as an opportunity to improve, innovate and reinforce trust.

The CNX Nifty is currently trading at 24781.90, down by 108.95 points or 0.44% after trading in a range of 24759.00 and 24868.60. There were 12 stocks advancing against 37 stocks declining, while 1 stock remain unchanged on the index.

The top gainers on Nifty were Larsen & Toubro up by 1.42%, HDFC Life Insurance up by 1.26%, Tata Motors up by 1.23%, Eicher Motors up by 0.79% and Hero MotoCorp up by 0.72%. On the flip side, Sun Pharma down by 1.93%, Infosys down by 1.72%, Wipro down by 1.61%, Tech Mahindra down by 1.59% and Asian Paints down by 1.56% were the top losers.

Asian markets are trading mostly in red; Taiwan Weighted lost 494.04 points or 1.9% to 25,529.81, Nikkei 225 slipped 176.93 points or 0.39% to 45,578.00, Hang Seng declined 173.68 points or 0.66% to 26,311.00, KOSPI dropped 92.12 points or 2.65% to 3,378.99 and Shanghai Composite weakened 6.97 points or 0.18% to 3,846.33. On the other hand, Jakarta Composite gained 25.29 points or 0.31% to 8,065.96 and Straits Times was up by 4.5 points or 0.11% to 4,278.36.