Markets shrugg off early jitters: Nifty near 23,600, Sensex up 320 points

The Indian equity indices opened Thursday’s trade on a negative note as market sentiments were weak owing to US President Donald Trump imposing a 25% tariff on auto imports. Domestic markets followed suit, the Asian markets were trading in the red as soon as markets opened. The Nifty 50 traded near 23,400 and Sensex fell 140 points.

Here are key factors to watch out for trade-

US tariffs: US President Donald Trump announced 25% tariffs on all vehicles and foreign-made auto parts imported into the United States. This move was made by the White House to foster domestic manufacturing, but it could also put a financial squeeze on automakers that depend on global supply chains.

Asia markets: Following the US levying new import duties, the Asian markets were trading on a lower note.

Japan’s Nikkei 225 was trading 1.15% lower at 37,585. The Asia Dow was trading 0.13% lower at 3,722.29. South Korea’s Kospi was down 0.90% at 2,620. The Shanghai Composite was trading 0.16% lower at 3,363.

FII buying: The foreign institutional investors (FIIs) have turned buyers for the fifth straight session. In March, they have bought Rs 21,377.38 crore. They were the net seller in the cash market for the last five months, excluding March. They were the net seller of more than Rs 3 lakh crore.