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The Indian rupee strengthened to 85.43 per dollar as the dollar index fell to a six-month low of 101.5. Concerns over US trade policy impacting growth reduced the dollar s safe haven status. President Trump announced 26% tariffs on US imports from India. Inflows into Indian debt and mild dollar sales from oil companies supported the rupee s appreciation.

Equities tumbled from Asia to Europe to the US as investors were taken aback by the magnitude of the tariffs. US equities and the dollar bore some of the worst selling on speculation the president s trade offensive will stunt the American economy.

Bids offered for this OMO were worth ₹80,820 crore, against the notified amount of ₹20,000 crore, RBI data showed. On the other hand, after reviewing liquidity conditions, the

The domestic market ended slightly lower due to weak global cues amid major news developments. Highlighted stocks include HDFC Bank, Mazagon Dock, Bajaj Finance, DMart, and UltraTech Cement, with significant updates on stake proposals, acquisitions, financial performance, and quarterly results influencing market movements.

Shares of Indian pharmaceutical companies surged on Thursday after the US exempted the sector from new trade tariffs. The Nifty Pharma index rose by 2.3%, with major gains for IPCA Laboratories, Lupin, Sun Pharmaceutical, and Cipla. Analysts see growth potential and recommend investing in pharma stocks.

The US has criticized India s financial industry policies, highlighting favourable treatment towards domestic firms like LIC and data storage requirements hampering foreign payment companies. The report also mentions barriers for foreign banks and insurers, unequal opportunities for foreign reinsurers, and lack of enforcement of market share limits for foreign digital payment firms.

So, shares of textile makers stood out Thursday, surging as much as 18%, as the 26% tariffs were on home furnishings and readymade garments from India paled in comparison with 54% levies on China, 46% for Vietnam, 37% for Bangladesh, and 30% for Pakistan.

The S&P 500 ended down almost 5% after U.S. President Donald Trump s sweeping tariffs ignited fears of an all-out trade war and a global economic recession.

Shares in Australia and Japan fell at the open. US equity-index futures were steady as trading kicked off in Asia after the S&P 500 declined 4.9% on Thursday and the Nasdaq 100 slumped 5.5%, the biggest drop since 2020 for each.

U.S. stock markets experienced sharp declines, with the S&P 500 and Dow Jones suffering their largest losses since June 2020 due to new tariffs announced by President Trump. The Nasdaq Composite also saw a significant drop. Investors are worried about potential global economic turmoil and are awaiting further guidance from the Federal Reserve on interest rate cuts.