Indian Markets Open Flat Amid Tariff Tensions: Eyes on Feb 1st

Indian stock markets opened flat as investors remain wary of potential U.S. tariffs on BRICS nations. Sentiment hinges on Trump's announcements and February 1st Union Budget. Key market indices Nifty and Sensex show cautious optimism, although downward trends persist. Major companies prepare to announce Q3 results.

Indian stock markets opened on a cautious note Friday, with the Nifty 50 index registering a slight gain of 0.2% at 23,296.75 and the BSE Sensex advancing 0.17% at 76,888.89. Investors remain apprehensive due to potential U.S. tariffs on BRICS nations, keeping market movements subdued.

Market analysts emphasized the uncertainty surrounding the Trump administration's anticipated tariff announcement on February 1, which could significantly affect global trade and inflation. Ajay Bagga, Banking and Market Expert, expressed concern over the potential tariffs, stating that their delay could lift market sentiment. Meanwhile, the upcoming Union Budget on February 1 is anticipated as a pivotal market event.

On social media, U.S. President Donald Trump warned BRICS nations against creating a new currency to rival the U.S. dollar, threatening 100% tariffs otherwise. Sectoral indices on NSE, notably Banking, Metal, Realty, Oil, and Gas, showed pressure, even as 27 Nifty 50 stocks opened with gains against 24 under pressure. Major companies like Sun Pharma and ONGC will soon announce their Q3 results, while Asian markets presented mixed performances.

(With inputs from agencies.)