The Indian equity benchmarks relinquished early gains and slipped into negative territory on Thursday, with the Sensex declining by over 300 points and the Nifty falling below the 22,300 mark.
Losses in heavyweight stocks such as HDFC Bank, Bharti Airtel, ITC, and Infosys dragged the indices lower.
The downturn follows the latest announcement from the White House, which stated that U.S. President Donald Trump is open to considering further exemptions on tariffs introduced earlier this week.
The development has spurred optimism in Asian markets, with the MSCI Asia ex-Japan index climbing by 1%.
Meanwhile, a global bond sell-off intensified in Asian markets, pushing Japanese benchmark yields to their highest level in over a decade. The volatility was triggered by heavy selling in German bunds, which subsequently rippled across the fixed-income segment.
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However, Asian equities found some relief as the U.S. administration announced a delay in the implementation of certain tariffs on Mexico and Canada.
At 9:37 a.m. Tokyo time, S&P 500 futures remained largely unchanged, while Hang Seng futures surged by 1.5%. Japan’s Topix index climbed by 1.2%, and the Euro Stoxx 50 futures posted a 0.6% gain. Conversely, Australia’s S&P/ASX 200 index slipped by 0.4%.
Sensex slides 800 points from day’s high
The Sensex, which initially opened on a positive note, struggled to sustain momentum and tumbled over 800 points from the day's peak.
The broader market sentiment remained cautious amid global uncertainties and fluctuating investor confidence.
IRFC shares surge on non-railway lending plans
Shares of the Indian Railway Finance Corporation (IRFC) surged by 3% following reports that the company intends to bolster margins by diversifying its lending portfolio beyond railway projects.
The newly designated Navratna public sector enterprise is reportedly considering financing metro projects and other railway-related infrastructure.
According to officials, IRFC’s strategic shift is aimed at enhancing financial sustainability while supporting the government’s broader infrastructure expansion initiatives.
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