Sensex 350 pts lower at 75,750; Nifty at 22,900; SMIDs down 2%; Pharma, Auto drag

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Benchmark equity indices BSE Sensex and Nifty50 were trading lower on Friday, after US President Donald Trump proposed a plan to impose tariffs on trading partners, amid PM Narendra Modi’s official visit to the US.

At 11 AM, the BSE Sensex was 313.70 points, or 0.41 per cent lower, at 75,825.27, and the Nifty50 was at 22,911.90, lower by 119.50 points or 0.52 per cent.

Investors will assess the impact of US President Donald Trump’s plans to impose reciprocal tariffs on India and other trading partners that levy taxes on American exports. Prime Minister Narendra Modi is on an official visit to the US on an invitation extended by the US President.

Investors will continue to keep an eye on global market moves, continued selling by foreign institutional investors, the last few December quarter results from Indian firms, and macroeconomic data including wholesale inflation, export-import numbers, apart from passenger vehicle sales numbers, among other cues that are expected to drive markets.

In the mainline section of the primary markets today, Hexaware Technologies IPO will close for subscription, and Quality Power Electrical Equipments IPO will open for subscription. In the SME section, Eleganz Interiors IPO will list on the bourses, while Maxvolt Energy Industries IPO, Voler Car IPO, and PS Raj Steels IPO, will have see the last day of their subscription window.

Tejas Cargo India IPO and Royalarc Electrodes IPO will open for subscription and Shanmuga Hospital IPO and L.K. Mehta Polymers IPO will see Day 2 of their subscription window.

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