Trump Xi truce fails to lift markets
Indian stock markets opened with modest losses on Friday as investors assessed a temporary trade agreement between the United States and China. President Donald Trump and Chinese leader Xi Jinping reached a deal to pause their tariff battle for one year rather than resolve underlying disputes.
The Sensex fell 25 points to 84,379.79 at the opening bell while the Nifty declined 14 points to 25,863.80. Both indexes recovered losses within minutes as traders purchased shares in automobile manufacturers and financial companies.
Market analysts said participants felt disappointed the summit produced only a brief pause instead of comprehensive reforms. The agreement still provided relief by reducing immediate tensions between the world’s two largest economies.
Automobile and technology stocks led gains with Maruti Suzuki, Tata Motors and TCS advancing. Energy producer NTPC, steelmaker Tata Steel and telecom provider Bharti Airtel posted declines. Mid-sized and smaller companies outperformed larger firms with their indexes rising 0.4 percent.
Foreign institutional investors have resumed selling Indian equities as the Nifty approaches its September 2024 peak of 26,277 points. Traders should buy shares when prices dip and lock in gains when the market rallies, strategists advised.
